Competent Boards just published an insightful piece on the Agenda: “It’s Time to Raise the Bar on Your Board’s Sustainability Competence.” This article delves into the urgent need for corporate boards to not just understand but actively lead in sustainability.
- A recent study by Copenhagen Business School & Competent Boards reveals a concerning gap: 1 in 8 board members of Fortune 500 companies show little sustainability competence.
- The disparity in sustainability expertise across sectors like pharmaceuticals vs. oil and gas is startling.
- The article explores five critical factors for assessing board members’ sustainability performance, from past roles to educational background.
Why It Matters:
- Global sustainability disclosure standards and increasing regulatory pressures are transforming corporate governance.
- Boards should gear up to integrate sustainability into their strategic objectives, aligning with global standards like IFRS S1, IFRS S2, and European Sustainability Reporting Standards.
Call to Action:
- It’s not just about compliance; it’s about leadership in sustainability.
- Boards need to bridge the knowledge gap and become champions of sustainability, adapting to today’s complex regulatory landscape.
Read the full article to understand why and how boards can and must evolve in their approach to sustainability.
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