From innovation to collaboration, CohnReznick is committed to advancing sustainability across industries, services, and geographies. Earlier this year, we celebrated the sustainability impact of external stakeholders through the Sustainability Gamechanger Awards. Meet the winners: https://lnkd.in/gPuSBi6y #NexiaWeek2024
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The Sustainability Board's new report "Sustainability Board Preparedness in Large Public Family Businesses" reveals: 1. The world's largest public family businesses have made significant strides in aligning their boards for sustainability oversight 2. While directors were engaged early in sustainability efforts, their engagement levels have plateaued, suggesting a need for renewed focus and innovation 3. Notably, individual board leadership in sustainability is significantly more gender-equal in family businesses compared to non-family businesses Download the full report including recommendations on our new 'Institute for Sustainable Family Business' website - link in the comments.
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Integrating sustainability into the boardroom More and more companies are recognizing the imperative for sustainability expertise at the board level. As the push for sustainable practices intensifies, there's a growing need for dedicated champions with hands-on experience. It's a valuable yet scarce resource that can drive impactful change in boardrooms nationwide.
Professor and Associate Dean at Copenhagen Business School I focused on ESG and corporate sustainability
Should boards set up a separate sustainability committee? - As research for my new book 'Sustainability in the Boardroom' continues, I realise that many boards prefer a 'full integration' approach (i.e. all directors discuss sustainability during regular board meetings). In theory, such an approach is great as it does not isolate sustainability. In practice, however, it can be difficult for boards to truly integrate sustainability discussions, especially if the board has not yet developed broad enough sustainability expertise. There is a risk that a full integration approach makes sustainability too implicit so that discussions do not connect well to strategic decisions. Forming a sustainability committee (or extending an existing committee) are viable alternatives, especially for boards that are still building up capacity and that are in the process of finding their way on sustainability. Committees also have downsides, but they allow for more granular discussions of how material ESG topics and corporate value drivers interact. #sustainability, #esg
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The Role of Sustainability Committees in Corporate Governance While full integration aims to avoid isolating sustainability, practical challenges may hinder meaningful discussions. Establishing dedicated committees allows for focused, in-depth analysis of material ESG topics, particularly for boards with limited expertise in sustainability. As sustainability gains prominence in corporate agendas, the effectiveness of board oversight in this area is under scrutiny. This paper evaluates the merits of integrating sustainability discussions into regular board meetings versus establishing separate sustainability committees. Full Integration Approach: Advocates of full integration propose discussing sustainability matters within regular board meetings. However, this approach may lead to superficial discussions and disconnected decisions, especially for boards lacking sustainability expertise. Advantages of Sustainability Committees: Establishing separate sustainability committees allows for deeper analyses of material ESG issues and specialized expertise development. It provides a dedicated forum for stakeholder engagement and aligning sustainability with corporate strategy. The decision between full integration and separate committees depends on balancing inclusivity and depth of analysis. For boards navigating sustainability complexities, dedicated committees offer a pragmatic solution to enhance governance effectiveness in addressing sustainability challenges. #Sustainability #CorporateGovernance #Sustainability #Committee, #ESG
Professor and Associate Dean at Copenhagen Business School I focused on ESG and corporate sustainability
Should boards set up a separate sustainability committee? - As research for my new book 'Sustainability in the Boardroom' continues, I realise that many boards prefer a 'full integration' approach (i.e. all directors discuss sustainability during regular board meetings). In theory, such an approach is great as it does not isolate sustainability. In practice, however, it can be difficult for boards to truly integrate sustainability discussions, especially if the board has not yet developed broad enough sustainability expertise. There is a risk that a full integration approach makes sustainability too implicit so that discussions do not connect well to strategic decisions. Forming a sustainability committee (or extending an existing committee) are viable alternatives, especially for boards that are still building up capacity and that are in the process of finding their way on sustainability. Committees also have downsides, but they allow for more granular discussions of how material ESG topics and corporate value drivers interact. #sustainability, #esg
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There are different ways of integrating sustainability into a board. Check out Andreas Rasche‘s latest research on the stages of integration. Where are you with your board? Reach out to us if a conversation can help you forward! #positiveimpact
Professor and Associate Dean at Copenhagen Business School I focused on ESG and corporate sustainability
Should boards set up a separate sustainability committee? - As research for my new book 'Sustainability in the Boardroom' continues, I realise that many boards prefer a 'full integration' approach (i.e. all directors discuss sustainability during regular board meetings). In theory, such an approach is great as it does not isolate sustainability. In practice, however, it can be difficult for boards to truly integrate sustainability discussions, especially if the board has not yet developed broad enough sustainability expertise. There is a risk that a full integration approach makes sustainability too implicit so that discussions do not connect well to strategic decisions. Forming a sustainability committee (or extending an existing committee) are viable alternatives, especially for boards that are still building up capacity and that are in the process of finding their way on sustainability. Committees also have downsides, but they allow for more granular discussions of how material ESG topics and corporate value drivers interact. #sustainability, #esg
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Professor and Associate Dean at Copenhagen Business School I focused on ESG and corporate sustainability
Should boards set up a separate sustainability committee? - As research for my new book 'Sustainability in the Boardroom' continues, I realise that many boards prefer a 'full integration' approach (i.e. all directors discuss sustainability during regular board meetings). In theory, such an approach is great as it does not isolate sustainability. In practice, however, it can be difficult for boards to truly integrate sustainability discussions, especially if the board has not yet developed broad enough sustainability expertise. There is a risk that a full integration approach makes sustainability too implicit so that discussions do not connect well to strategic decisions. Forming a sustainability committee (or extending an existing committee) are viable alternatives, especially for boards that are still building up capacity and that are in the process of finding their way on sustainability. Committees also have downsides, but they allow for more granular discussions of how material ESG topics and corporate value drivers interact. #sustainability, #esg
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Great visualization - which can also be applied to how #PlanetaryHealth is integrated into medicine, #PublicHealth and other health sciences
Professor and Associate Dean at Copenhagen Business School I focused on ESG and corporate sustainability
Should boards set up a separate sustainability committee? - As research for my new book 'Sustainability in the Boardroom' continues, I realise that many boards prefer a 'full integration' approach (i.e. all directors discuss sustainability during regular board meetings). In theory, such an approach is great as it does not isolate sustainability. In practice, however, it can be difficult for boards to truly integrate sustainability discussions, especially if the board has not yet developed broad enough sustainability expertise. There is a risk that a full integration approach makes sustainability too implicit so that discussions do not connect well to strategic decisions. Forming a sustainability committee (or extending an existing committee) are viable alternatives, especially for boards that are still building up capacity and that are in the process of finding their way on sustainability. Committees also have downsides, but they allow for more granular discussions of how material ESG topics and corporate value drivers interact. #sustainability, #esg
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Founder & CEO at positive impacts (PI) GmbH - your tour guide to integrate Sustainability / ESG into strategy & processes in order to achieve double dividends
Integration into corporate strategy: This is quite commonly misunderstood as if everybody should do the same. Ask yourself: Would it be called strategy if everybody did the same? At positive impacts (PI) GmbH we provide five alternative ways to do this, and we have even scientifically proven that our framework can lead to double dividends (for investors and society). The double-edged sword of regulation: Do not let the legal department determine the mindset of your sustainability strategy (see above). We have also proven that a compliance mindset (doing something to become compliant) leads to double losses (for investors and society). Impacts & dependencies: To better understand risks and opportunities, ensure context-based impact valuation that is free from impact-washing (we're happy to show you our not yet public PI Model). Investor relations: make sure to help them identify your PAIs (happy to help) Investors: Happy to help you identify the most relevant PAIs of your assets Thank you, Johannes Pieper ♻️ for pointing this out and for Ellen Weinreb for the good summary! You can find more here: https://lnkd.in/dednFnP4
One year ago, we asked Chief Sustainability Officers to predict what their challenges will be in the future. Are you seeing these topics rise in relevance yet? Amongst their answers: — "The alignment of the sustainability strategy to the corporate strategy is critically important." — "The regulatory environment is adding more rigor and structure to our roles." — "I see more investors wanting to have 1-on-1 meetings to hear about what we're willing to commit to." Many thanks to Jamie M Ezefili (Northern Trust), Jill Kolling (James Hardie), Nancy Mahon (The Estée Lauder Companies Inc.), Dave Stangis (Apollo Global Management, Inc., Sophie Beckham (International Paper), and Susan Uthayakumar (Prologis) for sharing their insights here. Watch the video and share your thoughts on 2024 and predictions for the future in the comments.
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On our 'New Realities' website, we feature issues that we regularly hear about from our engagement with non-executive directors, chairs, senior executives, and other advisors. Concerns vary by industry and by the specific role of the decision maker. Do any of them sound familiar? We provide more context and reading recommendations for each item. Do let us know about YOUR new realities in the comments and click 'Visit my Website' on top of the post to learn more. The Sustainability Board Global Advisors
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ESG | Sustainability | Innovation | Product Strategy | Leadership | Executive Coach | Digital Solutions
#CSOs speak out: aligning corporate and sustainabiliy strategies is critical in 2024. What challenges is your team confronting in linking these strategies? Send me your thoughts!
One year ago, we asked Chief Sustainability Officers to predict what their challenges will be in the future. Are you seeing these topics rise in relevance yet? Amongst their answers: — "The alignment of the sustainability strategy to the corporate strategy is critically important." — "The regulatory environment is adding more rigor and structure to our roles." — "I see more investors wanting to have 1-on-1 meetings to hear about what we're willing to commit to." Many thanks to Jamie M Ezefili (Northern Trust), Jill Kolling (James Hardie), Nancy Mahon (The Estée Lauder Companies Inc.), Dave Stangis (Apollo Global Management, Inc., Sophie Beckham (International Paper), and Susan Uthayakumar (Prologis) for sharing their insights here. Watch the video and share your thoughts on 2024 and predictions for the future in the comments.
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One year ago, we asked Chief Sustainability Officers to predict what their challenges will be in the future. Are you seeing these topics rise in relevance yet? Amongst their answers: — "The alignment of the sustainability strategy to the corporate strategy is critically important." — "The regulatory environment is adding more rigor and structure to our roles." — "I see more investors wanting to have 1-on-1 meetings to hear about what we're willing to commit to." Many thanks to Jamie M Ezefili (Northern Trust), Jill Kolling (James Hardie), Nancy Mahon (The Estée Lauder Companies Inc.), Dave Stangis (Apollo Global Management, Inc., Sophie Beckham (International Paper), and Susan Uthayakumar (Prologis) for sharing their insights here. Watch the video and share your thoughts on 2024 and predictions for the future in the comments.
