The Sustainable Board
For a large and growing number of customers, suppliers, employees, investors, and others, sustainability has become a key criterion when determining whether or not they wish to be associated with an organization. Few other issues are expected to have as significant an effect on organizations, the way they operate and the products and services they provide as sustainability. Sustainability has been called the next megatrend, which will transform organizations, their markets and the economy in a way comparable to past megatrends, such as the advent of mass production, the IT revolution and globalization.
Sustainability is increasingly becoming a top-of-mind issue for boards that are seeking to enhance performance and reputation, mitigate risks, and foster innovation and growth.
“Traditionally, only boards of organizations in industries that directly impact the environment were concerned about sustainability,” said Dan Konigsburg, Managing Director of the Deloitte Global Center for Corporate Governance, DTTL. “But today, sustainability has become a key issue for all organizations as a result of increased pressure from customers, suppliers, employees, investors, local communities, and regulators. To respond to these pressures, it is critical that boards have the necessary tools and knowledge so they can guide the development and execution of a strategic sustainability mandate across their organizations.”