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Effective Executive Magazine

Environmental Sustainability and Climate Change: Leading with Innovation

Article Details

Pub. Date	: Jun, 2019
Product Name	: Effective Executive
Product Type	: Coaching and Mentoring
Product Code	: EECM31906
Author Name	:Colin Coulson-Thomas
Availability	: YES
Subject/Domain	: Management
Download Format	: PDF Format
No. of Pages	: 17

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Abstract

Public and stakeholder concern over the environment and climate change and the global nature of related challenges and opportunities have implications for many directors and boards. They raise a variety of issues that boards should address, including the adequacy of governance arrangements, contribution to the UN’s Sustainable Development Goals and the nature of the leadership required to align business and social priorities, objectives and outcomes and the nature, scale and timing of required responses. In regard to climate resilient smart cities, sustainable energy supply choices, pollution prevention, waste and water management, green growth and market solutions, there is scope for collective as well as corporate action and for creative strategies, innovation and entrepreneurship. Boards need to reassess corporate capabilities to participate in collaborative responses. The exercise of environmental leadership might rebuild reputation, trust and intergenerational rapport, ensure a more sustainable, inclusive, fulfilling and healthier future for mankind, and benefit damaged ecosystems.

Description

Globally, business and other human activities continue to pollute the environment and concentrations of CO2 and other long-lived greenhouse gases continue to increase (UNEP, 2019). For many stakeholders of contemporary companies the number one longer-term issue, and an increasingly urgent one, is protecting the environment and climate change. In the UK, the Financial Reporting Council has been consulting on proposed revisions to the UK Stewardship Code focused on how effective stewardship can deliver sustainable value for beneficiaries, the economy and society (FRC, 2019). Signatories are expected to take material Environmental, Social and Governance (ESG) factors into account.