AltoPartners: Boards are struggling with sustainability – what should they do about it?
Sustainability has become a priority for the majority of companies and boards. From a 2018 sustainable business report, only 13% of boards had robust oversight of ESG issues. A similar report done in 2021 from EcoAct found that things have improved and found that 94% of companies showed board-level oversight of climate-related issues. However, the same report also found that 81% of these companies lacked a robust plan for net-zero and 19% had long-term emissions reduction targets to meet net-zero goals.
It is clear that while ESG is an important topic to discuss, the frameworks and policies needed to guide companies are missing. Having guidelines set by the government could help, but there are more objectives boards can target to improve sustainability in the companies they oversee.
AltoPartners outlines sustainability and shares advice for boards to properly combat these issues:
- What is sustainability?
- What does that mean for boards?
- Why are boards short on sustainability members?
- What do boards need to do?
- What needs to be done to attract and retain sustainability candidates?