A recent survey by BDO looked at ESG issues among 200 public company Directors and found a big gap between concern and competence:
- Nearly ⅔ of Directors are unsure how to prioritise risks and reflect them in longer-term corporate strategy
- Over 70% feel that their boards are ineffective at integrating sustainability into governance and strategy building.
- While there has been a growth in understanding among corporate Directors over the past few years, this hasn’t translated into financial oversight in boardrooms
- Sustainability needs be the mindset across the Board. Laura Sanderson, Co-leader of the Board & CEO Advisory Practice for Russell Reynolds says “Simply recruiting a sustainability Director, someone who perhaps served as a chief sustainability officer, will likely result in them being marginalized in the boardroom. You don’t need an expert, you need great Directors.”
- Many Directors feel that they lack the education and experience to enact sustainable changes.
Our new Boards for Climate Programme is designed to build leadership capability through climate literacy to drive transformational change – is your board climate literate?
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