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Strategic Competence for Sustainable Business

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Strategic Competence for Sustainable Business

  1. 1. Strategic Competence for a Sustainable Future The Nordic chapter of the Climate Governance Initiative, in collaboration with World Economic Forum. The purpose is to engage board directors in Nordics and internationally, to accelerate climate actions and innovation for sustainable business and a sustainable world. © All rights reserved by Boards Impact Forum
  2. 2. Introduction by Operations Director Cecilia Wideback & Chair Liselotte Engstam Leading in a fundamentally changing world Board, Chair, NED & Education perspectives Poll, Moderated discussion & Q&A with panel Conclusion & Next *Share on social media #BoardsImpactForum #ClimateGovernance #ResponsibleGovernance *Questions via Q&A where Operations Director Cecilia Wideback West will help handle https://boardsimpactforum.com/joinus/ www.linkedin.com/company/boards-impact-forum www.twitter.com/ImpactBoards © All rights reserved by Boards Impact Forum Strategic Competence for a Sustainable Future - Agenda
  3. 3. Boards Impact Forum Peer Group Exchanges 1 Climate accountability on boards 2 Command of the subject 3 Board structure 4 Material risk and opportunity assessment 5 Strategic integration 6 Incentivization 7 Reporting and disclosure 8 Exchange Impact via WEF Climate Governance Principles – applied to full Sustainability scope Website w blog & Member Section Webinars & partner events Surveys, Research & Tools © All rights reserved by Boards Impact Forum
  4. 4. You 54 % Nordic 46% Rest of World from tot 38 countries © All rights reserved by Boards Impact Forum
  5. 5. Meet your presenter © All rights reserved by Boards Impact Forum Lise Kingo Independent Board Director at Sanofi SA (France), Covestro AG (Germany) and Aker Horizons ASA (Norway). She is Chair of the Advisory Board of the Leonardo Centre for Business in Society at Imperial College London and advisor to the Novo Nordisk Foundation. Ms Kingo is the former CEO of United Nations Global Compact, and former Executive Vice President & ExCo member of Novo Nordisk A/S, Denmark.
  6. 6. LEADING IN A FUNDAMENTALLY CHANGING WORLD - NEW COMPETENSIES REQUIRED Lise Kingo Independent Board Director Former CEO & Executive Director of UN Global Compact
  7. 7. OUR WORLD IS CHANGING RAPIDLY Climate change cost the world $210 billion in damage in 2020 “Natural catastrophe losses in 2020 were significantly higher than in the previous year. Climate change will play an increasing role in all of these hazards. It is time to act.” Torsten Jeworrek, Board member, Munich Re “The new UN Report from IPCC says that 1,5C of warming within 20 years will trigger 8 times more extreme weather - how do we plan for what is coming?” FT Aug. 14, 2021 UN DESA Sustainable Development Goals Report 2020
  8. 8. THE BUSINESS OF BUSINESS IS CHANGING “There is only one social responsibility of business, and that is to increase its profits” The Milton Freedman Doctrine September 1960 “Companies failing to meet investor expectations on environmental, social and governance (ESG) factors risk losing access to capital markets” Ernst & Young Global Institutional Investors survey 2020 Uniting Business in the Decade of Action, UN Global Compact, DNV-GL June 2020
  9. 9. BOARD OVERSIGHT MUST CHANGE TO INCLUDE ESG Sustainable business has become a top strategic priority. Boards must ensure full integration, target setting and monitoring of ESG across strategy, operations and stakeholder engagement of the company Failing to consider ESG may constitute a breach of directors duties, and thus AGM elected board members are required to ensure a high level of ESG performance and oversight Forming a “Sustainability Board Committee” is a new unfolding trend that can be both separate or integrated with e.g. governance and nominations committees ANCHORING AMBITION IN STRATEGY AND GOVERNANCE DEEPENING INTEGRATION ACROSS OPERATIONS ENHANCING STAKEHOLDER ENGAGEMENT PURPOSE GOVERNANCE v In Articles of Association v In vision/mission statement v In company values v On Board agenda and committees v In Board competencies and diversity v In executive recruitment and incentives v In ambitious goals and targets integrated into a balanced scorecard v In innovative business models v Integrated in unit business strategies PEOPLE MANAGEMENT v In development and innovation processes v In supply chain management and across procurement v In Total Quality Management System v In performance management and remuneration v In training and learning v In company culture and communications v In key business investments v In allocation of capital and financial strategy v In managing risk and revenue v To investors and shareholders in financial statements v In non-financial statements and 3rd party reporting v In public relations and communication v In all brand and product promotion v In all customer engagements v In consumer education and behaviours v In forming alliances to accelerate impact v In relationships with communities and stakeholders v In ensuring social licence to operate PRODUCTS AND SERVICES CORPORATE STRATEGY AND GOALS REPORTING AND CORPORATAE COMMUNICATONS SALES AND MARKETING CORPORATE FINANCE PARTNERSHIPS AND STAKEHOLDER RELATIONS SDG IMPLEMENTATION FRAMEWORK
  10. 10. LEADERSHIP CAPABILITY REQUIREMENTS MUST CHANGE According to a UNGC/Russell Reynolds Associates study FROM June 2020 of 4,000 role specifications – across industries and the globe – only 15% of executive and non-executive role specifications made reference to sustainability - and only in 4% of instances was sustainability experience or mindset an actual requirement. Today in 16% of instances. * Leadership for the decade of action, a UNGC-Russell Reynolds Associates study
  11. 11. Meet your next presenter © All rights reserved by Boards Impact Forum Mette Morsing Professor, Head of Principles for Responsible Management Education at UN Global Compact, Board Member LEGO Foundation Former Mistra Chair of Sustainable Markets, Executive Director of the Mistra Center for Sustainable Markets at Stockholm School of Economics, Professor at Copenhagen Business School (CBS), Founder of CBS Center for Corporate Social Responsibility. Distinguished Visiting Professor at Royal Holloway, University of London. Member of the Danish Government's Council for Social Responsibility
  12. 12. Meet your next presenter © All rights reserved by Boards Impact Forum Arne Karlsson Chairman Ecolean, Einar Mattson, ROL, TAK Ltd, World´s Children´s Prize Foundation et al NED A P Möller-Maersk, Girovent Holding, Swedish Securities Council et al Executive Advisory board for the European Spallation Source Former Chair of Swedish Corporate Governance Code, CEO of Ratos, board member of private equity & industrial companies Bachelor in Business and Economics, Stockholm School of
  13. 13. Your perspective? © All rights reserved by Boards Impact Forum Our LEADERS have a sustainable mindset & sustainable leadership attributes Our BOARD has a sustainable mindset & sustainable leadership attributes Fully agree – fully disagree + don’t know Our BOARDS processes and structure drives a sustainability impacted strategy and vision
  14. 14. Panel Discussion NED Sanofi, Covestro, Aker Horizon Chair Ecolean, Einar Mattson et al, NED Maersk Head PRME UN Compact, NED Lego Foundation © All rights reserved by Boards Impact Forum
  15. 15. Thanks to all Presenters, Advisors & Partners Thanks to our Presenters & Panelists Lise Kingo Arne Karlsson Mette Morsing Thanks to The Audience Operations Committee & Board Ø Service based on a business model supported by sponsorships and grants. We extend our deep gratitude to our Partners: © All rights reserved by Boards Impact Forum
  16. 16. Next at the Boards Impact Forum 20 Sept kl 12-13 “Owner Perspectives, Stewardship & Collaboration with Boards on Sustainability and Climate Change” Open Webinar with Professor Corp Governance Morten Huse, Viveka Hirdman Ryrberg Sustainability Director Investor, Jens Schlyter , Department Director State Owned Companies, Sustainability Expert, NED Svenska Spel, Christoph Vitzhum, Chair Kone Cranes, Varma, CEO Fazer, NED Nordstjernan, Oras Invest et al And when signed up as member, join our upcoming peer-to-peer meetings and more International CGI events Sign up as member or supporter https://boardsimpactforum.com/joinus/ Follow www.linkedin.com/company/boards-impact-forum www.twitter.com/ImpactBoards © All rights reserved by Boards Impact Forum

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