Fostering Corporate Governance and Enhancing Board Effectiveness Survey findings
75% of board members agree a coherent environmental, social and governance (ESG) strategy with clear priorities helps create sustainable organizational value and stronger financial outcomes
Business strategy is a more commonly cited influence on ESG priorities than regulatory compliance
*4/5 – To a very great extent on a 5 point scale.
Respondents report lacking skills and expertise for addressing climate issues
Today: 48% In three years: 18%
Most commonly cited criteria for evaluating board effectiveness: the assessment of board composition, skills and diversity
The number of respondents citing third-party assessments and facilitated workshops as a top three method for assessing board effectiveness is expected to double in three years
Top 3 technique or tool used today to assess board effectiveness | Top 3 technique or tool used over the next three years to assess board effectiveness | |
---|---|---|
Third party assessment of board dynamics and culture | 8% | 21% |
Facilitated board workshop to review areas for improvement | 10% | 25% |
But 3 in 5 organizations that use a combination of full board and committees expect to have a standalone ESG, corporate social responsibility (CSR) or sustainability committee in three years
Note: Based on those with overlapping responsibilities
Only 3 in 5 board members think their board has dedicated sufficient time and resources to governance in the context of their ESG priorities and agenda
62% - Strongly disagree/disagree
About the survey: A total of 349 board members from 44 countries across six continents participated in the Fostering Corporate Governance and Enhancing Board Effectiveness Survey, which was conducted between February 15 and April 7, 2023.
Title | File Type | File Size |
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Infographic: Boards see improvement opportunities in climate and governance areas | .1 MB |