{"id":131078,"date":"2024-06-04T09:10:14","date_gmt":"2024-06-04T06:10:14","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/study-boards-recognise-risk-of-ignoring-esg-issues\/"},"modified":"2024-06-04T09:10:14","modified_gmt":"2024-06-04T06:10:14","slug":"study-boards-recognise-risk-of-ignoring-esg-issues","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/study-boards-recognise-risk-of-ignoring-esg-issues\/","title":{"rendered":"Study: Boards recognise risk of ignoring ESG issues"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/131078\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nNearly half of UK boards expect a continued or stronger focus on environmental, social, and governance (ESG) issues over the next five years, with diversity, equity, and inclusion (DEI) and climate change topping the list of corporate priorities, according to a new report from Diligent and Spencer Stuart.<\/p>\n<p>The report &#8211; titled Sustainability in the Spotlight 2024 &#8211; highlights how corporate sustainability efforts have been complicated by new greenwash and sustainability standards, more robust reporting requirements, and heightened public scrutiny. But it stresses that very few companies are backing away from their ESG ambitions, despite them often becoming harder to achieve. The study revealed 36 per cent of UK companies aspire to be seen as sustainability leaders, despite claims sustainability reporting has &#8220;inadvertently become a burden for organisations&#8221; and warnings of &#8220;legislation lethargy&#8221;.<\/p>\n<p>Diligent and Spencer Stuart&#8217;s survey of more than 800 global board members, including representatives from 70 UK boards, also found that just seven per cent of UK-based respondents cite &#8216;backlash&#8217; against ESG as a major obstacle to their plans. When asked about the effects of greater public scrutiny, 47 per cent said their organisations have stayed the course with their current ESG strategy. However, almost one-in-five firms said their organisation had changed the terminology or level of publicity around their ESG goals, without changing the underlying strategy, as a result of increased public pressure.<\/p>\n<p>The study also shed light on the degree to which UK boards understand the organisational risk in not pursuing ESG goals, finding that fewer than one-in-10 directors thought their firm saw ESG more in terms of opportunities than risks. The largest obstacle to progress towards ESG goals was identified as winning internal buy-in, with almost a quarter of respondents naming competing business or strategic interests as the number one barrier to executing an ESG strategy. The results chime with previous research by Kantar and the Climate Governance Initiative, which claimed a &#8220;mindset shift&#8221; is needed as directors struggle to convert green business opportunities into action.<\/p>\n<p>&#8220;Corporate boards today recognise both the risk of ignoring ESG initiatives and the reward that comes from standing strong in upholding them,&#8221; said Dottie Schindlinger, executive director of the Diligent Institute. &#8220;The data shows us that while ESG oversight has become an established board function, directors still need more clarity and insights to respond to regulatory demands and become better stewards of their organisations&#8217; ESG efforts.&#8221;<\/p>\n<p>More broadly, the study found that European and Asia-Pacific boards remain more engaged with ESG than their US counterparts. For example, boards of companies in Europe and the Asia-Pacific region were found to be more likely than those in North America to be taking action in response to ESG regulations. ESG is among the top priorities for 51 per cent of the Asia-Pacific board members quizzed and almost half of those in Europe. Yet among North America respondents, only 22 per cent named ESG as a high-level concern compared to 52 per cent who defined it as mid-level issue for the board.<\/p>\n<p>&#8220;Our insights suggest that despite some headwinds, companies across the globe are continuing to strengthen their sustainability commitments, as the bar steadily rises for compliance and performance,&#8221; said Jason Baumgarten, head of Spencer Stuart&#8217;s global board and CEO Practice. &#8220;Board directors are ensuring their organisation stays the course in calibrating and achieving sustainability goals, and their stewardship will play an outsized role in striking the right balance between risk mitigation and growth opportunities going forward.&#8221;<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.businessgreen.com\/news\/4267568\/study-boards-recognise-risk-ignoring-esg-issues\">Business Green<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/vaufien\/study-boards-recognise-risk-of-ignoring-esg-issues\/\">Study: Boards recognise risk of ignoring ESG issues<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[1842,14779,606,607,608],"class_list":["post-131078","post","type-post","status-publish","format-standard","hentry","category-news","tag-board","tag-esg-issues","tag-vau_viikkokatsaus","tag-vauen","tag-vaufien"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/131078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=131078"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/131078\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=131078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=131078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=131078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}