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    Corporate Boards Raise Concerning Knowledge Gaps When It Comes to Sustainability, New Global Research Finds

    A new report by Heidrick & Struggles, INSEAD, and BCG, found that more than two-thirds of directors (68%) feel that sustainability has little impact on financial performance today, and only 10% believe sustainability will negatively affect medium- to long-term financial resultsThe survey also found that only 29% of global board directors feel knowledgeable enough to challenge or monitor execution on sustainability, and 89% rely only on management updates to stay informed on the topic of ESGA combined 48% of respondents confirmed that knowledge or experience with sustainability is either “not at all” or just “slightly” part of the competency matrix for their board selectionCHICAGO—Though significant progress has been made on boardroom awareness and acceptance of the sustainability agenda, capacity challenges and a self-declared lack of expertise at the board level has revealed a gap between intentions and prioritization of the environmental, social, and governance (ESG) agenda. That is according to a new global survey of board directors published today by Heidrick & Struggles (Nasdaq: HSII), a premier provider of global leadership advisory and on-demand talent solutions, in partnership with Boston Consulting Group (BCG), one of the world’s leading management consulting firms, and the INSEAD Corporate Governance Centre, a global INSEAD center of excellence for research, innovation, and impact in corporate governance.
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    Global Financial Wealth Market Sees First Decline in More Than a Decade

    Global Financial Wealth Falls 4% to $255 Trillion in 2022, but a 5% Rebound Is Expected in 2023The Value of Real Assets Rose by 5.5% to $261 TrillionAbsolute Global Wealth Rose by 1% Overall, to Reach $516 TrillionBCG’s 23rd Annual Global Wealth Report Highlights How Wealth Managers Can Reset the Course to Create Sustainable GrowthBOSTON—The value of global financial wealth shrank for the first time in 15 years in 2022, declining by 4% to $255 trillion. Drivers include spiking inflation, the resulting rise in interest rates, and poor equity market performance against the backdrop of geopolitical uncertainty sparked by the war in Ukraine. However, the decline is expected to be short lived, with a 5% rebound to $267 trillion expected in 2023.