Reskilling the Board on Risk, Reputation and Responsibility

Boards usually have governance expertise on accounting matters. After India’s CSR legislation that required board oversight, some of them had started focusing on CSR as well. However, ESG is not CSR. It is about corporate strategy and management oversight of core business in the context of environmental, social and governance standards. With ESG standards gaining momentum across institutional investors, it is now expected that ESG should be a part of the board agenda. Boards need to be trained on the following:

  • The difference between ESG, CSR, Sustainability and Brand promise
  • What are the company/sector’s core issues and how this will change in the next ten years.
  • Global risks, country risks and corporate risks.
  • Reputational challenges that can emerge from business as usual.
  • The opportunities for change.
  • Global momentum on ESG and expectations.
  • The challenges of measuring environmental and social risk.