ENGAGING THE BOARD AND EXECUTIVE MANAGEMENT
Why should finance engage the board and executive management?
The board and executive management are responsible for the organization’s long-term viability. Amidst the evolving landscape of sustainability risks, such as climate change and global pandemics, the business case for a shift towards resilient business models and a sustainable economy is getting stronger. In response, the board and executive management team must set the tone and define a clear strategy for implementation. The finance team has the ability to articulate the financial impact of sustainability risks and opportunities that are material to the business and provide insights to formulate the right approach.
This project aims to create tools and guidance to prepare CFOs and finance teams to engage their board and executive management team to help embed sustainability into their regular decision making.
To do this, the project team are exploring:
- How finance can engage the board and executive management on sustainability as a driver of value
- How to embed this engagement into internal structures and processes to integrate sustainability into regular decision making
A process for engagement
We have created guidance to illustrate how finance teams can use regular board activities to demonstrate that sustainability is a key driver of value. It includes practical guidance through a three-step framework and case studies to show successful implementation.
The guide shows how an engaged board and executive management can bring a myriad of financial benefits to a business, including growth opportunities, cost savings, an improved organizational reputation, increased investor interest and access to new sources of finance.
The guide is brought to life with six case studies which offers practical guidance of how leading organizations have engaged and embedded sustainability into board activities.