Strategic Focus: The Evolving Role Of The Board In An ESG & Sustainability Landscape
03 Jan, 2024
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Executive Summary
With ESG and sustainability becoming increasingly critical parameters for business performance, the role of the board of directors has evolved to directly engage with these matters. However, the terms of such engagement are still terra incognita. This report is designed to help key decision-makers in firms navigate this ambiguity effectively and efficiently. Specifically, boards should read this report to prepare themselves for an updated way of functioning, encompassing ESG and sustainability concerns.
In a rapidly changing business environment, the role of the board is evolving to tackle sustainability head-on
ESG and sustainability have risen in status on board agendas
Board engagement with ESG and sustainability can differ
Conscious and continuous effort is crucial for boards to effectively engage with ESG and sustainability matters
Boards must be more accountable for sustainability issues
ESG and sustainability have risen in status on board agendas
Board engagement with ESG and sustainability can differ
Conscious and continuous effort is crucial for boards to effectively engage with ESG and sustainability matters
Boards must be more accountable for sustainability issues
Figure 1. Drivers of the increasing prominence of ESG on board agendas
Figure 2. Role of the board in accelerating a firm’s sustainability journey
Figure 3. Equipping boards to take smarter sustainability decisions
Figure 4. The ESG information boards need
Figure 2. Role of the board in accelerating a firm’s sustainability journey
Figure 3. Equipping boards to take smarter sustainability decisions
Figure 4. The ESG information boards need
IKEA, Egon Zehnder, Roche, UN Principles for Responsible Investment (PRI), EY, University of Oxford, Chapter Zero, KPMG, Chevron, Enacting Purpose Initiative, Apple, Boston Consulting Group (BCG), Border to Coast Pensions Partnership, ConocoPhillips, University of California, Force on Climate-related Financial Disclosures (TCFD), Institute of Directors, Transition Plan Taskforce (TPT), Shell, Merlys, ExxonMobil, Sustainability Accounting Standards Board (SASB), Tesco, INSEAD Corporate Governance Centre, AstraZeneca, Merck, BP, GSK, US Securities and Exchange Commission (SEC), Deloitte, Berkeley, Universities Superannuation Scheme (USS), Unilever, Standard & Poor’s, PwC, ClientEarth, NASDAQ
About the Authors
Priyanka Bawa
Senior Analyst
Priyanka is a Senior Analyst at Verdantix, where she leads research to enable sustainability leaders and services firms to analyse shifting market dynamics and evaluate innova…
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Kim Knickle
Research Director
Kim Knickle is a Research Director at Verdantix, bringing more than two decades of analyst experience to the evolving world of sustainability. Her current research spans ESG a…
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