THE SUSTAINABILITY INTERVIEW
Q . WHAT ROLE DO BOARDS PLAY IN COMPANIES MEETING SUSTAINABILITY GOALS ?
» The bar has risen for ambition , accountability and action , and with it , the need for companies to respond with credible plans , evidenced action and progress . Effective collaboration between CSOs and the board is essential , requiring close interaction to align Environmental , Social , and Governance ( ESG ) goals with the organisation ’ s strategic direction . The CSO role has the potential for identifying how organisations gain competitive advantage by putting ESG at the heart of value creation . This type of alignment means Chief Sustainability Officers ( CSOs ) are empowered by CEOs and boards to be transformative across the business . It signifies a clear mandate , meaningful influence , and involvement in corporate strategy , and enables the CSO to hold the C-Suite accountable for sustainability progress .
Boards can and must actively support CSOs in achieving targets at an appropriate pace , integrating them into the business as usual whether it ’ s through investment , acquisitions , innovation , policy and stakeholder engagement . The right governance structures are essential to reinforce integration , progress and organisational engagement . Bringing wider perspectives from dedicated committees and creating strategic connections can demonstrate to employees and stakeholders the purpose , plan , and progress of commitments .
Q . HOW CAN BOARDS GET THEIR COMPANIES MOVING IN THE DIRECTION OF SUSTAINABILITY , TODAY ?
» Boards play a central role in fostering strategic alignment , accountability , and innovation in sustainability efforts . Boards can propel their companies towards
18 Janaury 2024