In today’s rapidly changing world it is clear that many corporate boards struggle with ESG (Environmental, Social and Governance) for two key reasons.
A vicious circle of skills shortages: directors generally lack sustainability expertise and people with sustainability expertise generally lack board-ready credentials. Until these two groups come together and learn from each other, the knowledge gap will only get wider.
A paralysis trap of speed and complexity: the combination of rapid change and huge variety of ESG challenges demands contrasting skills – intuitive, quick thinking versus disciplined logic and deep understanding. These competing demands often lead to inaction. of these problems can be solved by improvements in board structures and practices.