Issues like climate change and inequality are not just existential challenges that humanity is dealing with, they are business imperatives. Businesses need to take notice and solve such challenges — and their boards ought to step up as stewards of sustainability, according to a new research paper by Stewardship Asia Centre, part of the Temasek Trust ecosystem.
Titled Boards as Stewards of Sustainability: View Across Asia Pacific, the report highlighted that the board of directors, as the senior-most representative group in any organisation, holds implicit accountability towards enhancing value for all stakeholders. They are responsible for addressing the needs of stakeholders, society, future generations and the environment.
Yet, the board’s role in driving the sustainability agenda has traditionally been underplayed and rarely talked about.
To truly steward sustainability, boards must shift their mindset, viewing sustainability as more than just compliance, the report noted.
True steward boards, often found in long-lasting organisations, adopt a mindset that views sustainability as the primary means to future-proof the organisation. Within these boards, sustainability is not just a topic of discussion; it is deeply ingrained into the fabric of decision-making processes.
It proposed a four-step process that boards may embrace if they aspire to drive compelling action on solving environmental and social challenges.
Stewardship Asia Centre collaborated with 13 organisations across the Asia-Pacific for this research study. They collected inputs from over 700 directors in the region. Read the full report here.
Stewardship Asia Centre, part of the Temasek Trust ecosystem, is a non-profit organisation dedicated to helping business and government leaders, investors, and individuals accelerate leadership action on environmental and social challenges through catalytic knowledge and advisory.
To learn more, visit its website. Follow Stewardship Asia Centre on LinkedIn for its latest updates.
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