ESG COMPETENCE IN THE BOARDROOM
The objective is to offer an arena where board directors, investors and top managers can gather updated insight, and exchange knowledge and experience on how the ESG-agenda can and should affect the boards’ role, composition and work processes.
Why
The latest white paper on the Norwegian State direct ownership (Stortingsmelding 8) underlines that the SDGs “will affect most of the companies in the state’s portfolio.” So that “…….the state expects the companies to have an overarching agenda for sustainable value creation.”
Thus, it is encouraging that a good number of companies are including sustainability in their overall strategies. However, recent studies show that these strategies have not yet led to actual transformation of the business models.
Furthermore, the same studies points to a lack of sustainability competence among top managers and board directors.
How
To address this challenge, the program will
Collect and distribute research, articles, documentation and insight on the boards’ responsibilities with regards to long term value creation
Organize learning and discussion arenas, such as; masterclass lectures, roundtable discussions, mini-seminars, work-shops and webinars
Develop and distribute best practice recommendations and guidelines
Timeline 2024
18 September 2024 - Work Stream 1: Developing and ESG based strategy
16. October 2024 - Work Stream 2: Board composition and functioning in an ESG context
6. November 2024 - Work Stream 3: Understandable, reliable and verifiable corporate reporting
The workstreams are built around the boards’ key tasks, and they have two purposes:
Secure that network participants have the competence needed around the five tasks for board directors
Secure input to the common best practice guideline/recommendations for how boards can contribute to achieve the SDGs
Founding partners and facilitators
Initiated by FutureBoards and co-founded by DNV, UN Global Compact Norway and SKIFT, the objective of the program is to strengthen the sustainability thinking and competence in the board rooms. The program is facilitated by FutureBoards, represented by Turid E. Solvang and DNV represented by Ulrike Haugen, who also chairs The Advisory Board that includes: Sven Mollekleiv, DNV, Idar Kreutzer, Finance Norway | Gisele Marchand, Board Director | Kim Gabrielli, UNGC Norway | Bjørn Haugland, SKIFT | Kiran Aziz, KLP | Christin Bøsterud, EY | Frithjof Lund, McKinsey | Nina Jensen, REV Ocean | Martin Skancke, PRI.
