Every year since 2019, The Sustainability Board has assessed the ESG preparedness of the 100 largest public companies [1] in its Annual ESG Preparedness Report following a proprietary set of criteria. This assessment included an evaluation of formalised ESG oversight, such as the establishment of a sustainability committee or the delegation of ESG responsibilities to existing committees. We assess, from publicly available information, the materiality and quality of such companies’ oversight policy and screen for board diversity, committee composition, and individual directors' engagement on sustainability issues. This memorandum outlines mechanisms that can enhance boards' accountability for ESG, highlighting our opinion as to the leading companies in each area based on our 2023 research*. We encourage other organisations and directors to review these practices for potential adoption or comparison. Relevant Committee Charter Materiality We assess the presence of a board ESG policy through the presence of a relevant board committee that stipulates ESG issues either in its committee charter, proxy statement, corporate governance policy, or annual report. Terminology for ‘sustainability committee’ varies. Some committees are named ‘ESG’ or ‘CSR’ committees. Some sustainability responsibilities are part of shared or common committees such as Corporate Governance, Nomination, Risk, Audit, or Public Policy/Affairs committees. As long as ESG oversight is clearly stipulated in their policies (mostly committee charters), these are referred to as ’relevant committees’. We screen the charters for narrative and whether material sustainability issues, as per Sustainability Accounting Standards Board (SASB), are stated. This gives an indication of the committee’s accountability. Boards with comprehensive charters that include at least 40% of material issues: Comcast Microsoft Equinor BHP Group Director ESG engagement This is an assessment of all directors’ ESG engagement who are members of a relevant committee and hence arguably tasked with ESG oversight. ESG engagement of directors is evaluated using a checklist [2], which assesses them based on three distinct criteria. A director is considered ESG-engaged if they meet at least one of these criteria. In our ESG Preparedness Report for 2023, we noted the following: 85% of directors worldwide, and 88% in the US, qualify as ESG-engaged due to their corporate experience in sustainability strategy. This engagement largely stems from their roles as either a current or retired CEO. We also look at whether the director is a member of a relevant non-profit organisation dedicated to industry specific sustainability issues. The share of directors who satisfy this criterion declined from 58% in 2022 to 53% in 2023 and is 47% in the US. The criterion with the least representation is formal certifications or credentials, with only 7% of directors meeting it. Not much progress has been made over the last 3 years in this area. Within this category, we also include lecturers, professors, and other faculty members who teach sustainability topics. Interestingly, these educators outnumber the individuals who possess formal (disclosed) certifications or credentials in the field. Boards with a high number of ESG engaged directors on their respective relevant committee (number of ESG engaged directors vs total number of committee members): China Construction Bank (5/5) Johnson & Johnson (4/4) BHP Group (4/4) Total Energies (5/6) Board gender diversity Our research shows a strong correlation between directors’ ESG engagement and gender. Women are 64% more likely to be engaged in ESG oversight than their male peers*. Hence, more women on boards will make the governance system more ESG engaged by default. Female directors were also 13% more likely to be part of a relevant committee (this number was at 24% in 2022)*. Boards that stand out with full gender equality: BNP Paribas Coca-Cola Chevron Boards with majority female directors: Citigroup AXA Sustainability or ESG report sign-off This data point confirms whether the board has signed off the company’s sustainability or ESG report. 71 out of our sample of 100 companies had their reports signed off by the board, mostly by the chair, or in rarer cases the relevant committee chair. This signifies that the board has likely reviewed the report and is up to date with targets and progress, as well as accountable for its contents. It further adds credibility to the sustainability strategy. All information is per our research cycle from September and October 2023. The full dataset can be found in our 2023 Annual ESG Preparedness Report. A note on stakeholder governance and engagement Of course, the mentioned mechanisms are not the only ones which can be used to evaluate ESG preparedness. A detailed stakeholder engagement plan is also important, albeit beyond the scope of our assessment. Essential to a corporation’s survival is maintaining its license to operate. To do this, it must gain and retain the trust of its material stakeholders: those (1) who can reasonably be expected to be significantly affected by its activities, products and services; and (2) whose actions can reasonably be expected to affect the ability of the corporation to implement its strategies and achieve its objectives. For example, the UK directors are required to include a “section 172 statement”  in the strategic report of the company’s annual return. This statement, in essence, must set out how directors have shown regard to the company’s key stakeholders whilst exercising their duty to promote the best interests of the company for the benefit of shareholders as a whole. Developing a stakeholder engagement framework for boards involves two key aspects: conducting a materiality assessment to determine relevant stakeholders and engaging with these stakeholders so that their views are available to directors when they consider key decisions for the business. Assessing who the key stakeholders are in the delivery of purpose and strategy, and selecting the appropriate mechanisms for engagement, are crucial. Different stakeholder groups may require different approaches. For instance, engaging with institutional investors might involve investor roadshows, while engaging with the workforce might include employee councils and panels. The board needs to ensure that engagement mechanisms are effective and convenient for the stakeholders, not just for the company. Learn more about our custom ESG preparedness benchmarks. Endnotes: *The Sustainability Board 2023 Annual ESG Preparedness Report [1] As per the top 100 companies of Forbes 2000;  This sample has an overweight on US, European and Chinese companies. [2] More details can be found here

We are delighted to announce the release of the much anticipated 2023 Annual ESG Preparedness Report. This year marks the fifth anniversary of the report, which has become a pivotal resource for boards and sustainability advisors worldwide. This year's report is supported by Chapter Zero and provides an in-depth analysis of ESG oversight within major global corporations, with an additional focus on US boards. It highlights key trends, advancements and areas requiring urgent action: Remarkable Growth: Sustainability oversight in global corporations has soared to 88% from 50% in 2019. Urgent Need for Director Engagement: Despite progress, there's a stagnation in individual director involvement in ESG issues. Women Leading ESG Initiatives: Women board members are at the forefront of driving ESG engagement. US Boards embrace ESG: The top 100 US companies showcase strong ESG integration, but also lack director’s engagement. Call for Sustainable Leadership: The report emphasises the need for committed knowledgeable leadership in sustainability. Visit our report website and download the report. Please also join our launch webinar on the 29th of November.

After their podcast interview in December, our Executive Director Frederik Otto spoke to Alison Taylor again. This time the discussion focused on risk, opportunities, public relations, and diversity & inclusion. Alison is a clinical associate professor at NYU Stern School of Business, and the executive director at Ethical Systems. She is an outspoken sceptic of strategic communications and public relations on societal issues. Alison is concerned about the overwhelming focus on public commitments at the expense of actually getting things done on sustainability. Let’s look at the 2024 World Economic Forum in Davos that just concluded. This year’s theme was ‘Rebuilding Trust’. Where do you stand on the notion of trust? Trust is very difficult to define, and academics don't really agree what it is. There is an overall tendency to equate trust with reputational risk management, with attractive messaging, with forms of public relations (PR) designed to appeal to stakeholders. My biggest concern about trust is the way that it is commonly misused by the media and by the PR industry. Trust in reality includes an expectation of reciprocity, the idea that there is a mutuality, a relationship. The way that trust is commonly used is more about messaging and more about treating stakeholders as passive recipients of information, which in turn prioritises putting out attractive messages solely to protect brand value. We're clearly in a very, very low trust environment as the WEF has pointed out in their own Global Risk Report, outlining the risk of misinformation and disinformation in undermining trust. So, I think we're having a problematic conversation. We’ve allowed the strategic communications industry to take over the concept of trust. And I think we need to do some work to reclaim what it actually means. Several risk forecasts came out this month. What are the key risks for business in 2024 in your opinion, and which do you expect businesses to prepare most for? It depends where you are, but I think geopolitical turmoil is a huge issue in 2024, and two thirds of the world's population are going to the polls. Businesses will have to navigate their involvement in political influence, corporate political responsibility, responsible tax, corruption. I think those are some of the biggest issues. This obviously speaks to what businesses are and aren’t doing on questions of climate policy, inequality, and social impact more broadly. What should the scope be of businesses taking a stance on politics or societal issues? I think that businesses need to be much more cautious about taking a stance. The notion of corporations “speaking up” implies that we're again treating all these issues as PR issues. I would suggest that companies limit their public stances to issues that they can influence. I would suggest that businesses are much more restrained and cautious and honest about the degree to which they are profit making entities, and what pressing societal challenges they can really solve. What are the opportunities for sustainable business in 2024 broadly? I think there is finally a chance to reshape the narrative, to get substance behind sustainability commitments. To be much sharper about whether those commitments are opportunities, risk management, or managing negative impacts. I think there is an opportunity to be more restrained and honest and thoughtful about the kind of positions you take. There is an opportunity to engage in a much more transparent, honest, and thoughtful way with the political and policy making process. I think those businesses will be in a stronger position from businesses that continue to overpromise and treat all these topics as PR. One opportunity and potentially a risk is diversity, equity - or equality - and inclusion (DE&I). Particularly in the US we see a backlash similar to ESG. What are your thoughts on the current developments? It's certainly related to the backlash on ESG. I could answer this in a very specific US context, whereas we know the Supreme Court has reversed its position on affirmative action. I think a lot of members of the right wing are seeing a lot of opportunity here to frame DE&I as a problem. I think there is quite some ground for arguing that the way DE&I has been implemented in American corporations is legalistic, is focused on “protected classes” and has done more harm than good. We have ended up with an overwhelming focus on social identity. What I hear in the classroom that these legalistic, tick box approaches may be affecting women and people of colour negatively and increasing internal divisions. So, there's plenty to criticise about the scope and range of DE&I efforts. I would not want those comments to be understood as thinking that there isn't a very real problem to solve. I would really challenge everybody that is currently attacking DE&I to explain what their proposal is for changing the reality. Leadership positions in business, in government, in the media, any sector that you can think of is still dominated by white middle aged men. Hence, everybody criticising DE&I needs to explain what they're going to do to address that issue. What are the positions that CEOs or boards should take on these issues? I think what we need to do is to focus on the actual benefits of diversity, which are better risk management, better decision making, a broader range of perspectives, more creativity, better conversations. We certainly need to do work to elevate people that have been marginalised. My students want to see people in senior leadership that look like them and their friends. We need to do a lot of work on what kind of behaviours get rewarded. We need to work on the pipeline, how we retain and motivate workers. Overall, we need to do a lot of work on psychological safety and speaking up and making people feel comfortable to share their ideas in an organisational setting. Finally, talk to us about your new book coming out very soon. It's called Higher Ground - How Business Can Do the Right Thing in a Turbulent World. I intent to answer all the difficult ethical dilemmas facing global corporations today, and I aim to be controversial. I would love it if your audience would read it, download it, and debate me on it.

Dear Follower, This month, we revealed our new identify as The Sustainability Board. Formerly known as The Sustainability Board Report, we are excited to announce our new name. As our organisation has evolved and grown, we now embrace a broader mission as a comprehensive resource for policy and research, thought leadership, and intelligence services supporting sustainable leadership and governance. While we initially gained recognition through our groundbreaking report on ESG engagement of boards, our new identity as 'The Sustainability Board' reflects our commitment to go beyond reporting. Our vision is to foster a community of sustainable leaders, empowering them to drive positive change. As we embark on this journey, we look forward to offering invaluable insights, innovative solutions, and a forthcoming membership programme that focuses on cultivating and nurturing sustainable leadership. Thank you for joining us in this exciting phase, and we invite you to explore our enriched platform as we continue our dedicated efforts to build a more sustainable and resilient future. News Bloomberg CEOs Sharpen ESG Positions as Conservative Backlash Intensifies In the US, executives from Home Depot, Booking(dot)com, and other corporations have faced significant investor pushback on their ESG policies this proxy season. While some companies downplayed their ESG commitments due to backlash, a phenomenon termed 'greenhushing', others robustly defended their strategies. Experts emphasize the importance of linking ESG initiatives directly to shareholder value. The rise of virtual investor meetings has broadened shareholder participation, leading to diverse queries for executives. ESG Today Over Half of M&A Dealmakers Have Cancelled Deals on ESG Due Diligence Findings: KPMG Survey A recent KPMG survey indicates that ESG factors are playing a pivotal role in M&A decisions. Over half of the surveyed M&A professionals cancelled deals due to significant findings during ESG due diligence. Furthermore, around 60% of investors are ready to pay a premium for companies demonstrating advanced ESG maturity. The study also revealed that the frequency of ESG due diligence is likely to rise, with challenges including data robustness and understanding the scope of ESG evaluations. KPMG underscores that sustainable practices are now essential for business resilience and growth. Climate Governance Initiative SEC Climate Disclosure Proposal: Key Insights In March 2022, the U.S. Securities and Exchange Commission (SEC) proposed that US public companies incorporate climate-related disclosures in registration statements and periodic reports. This move emphasises corporate boards' role in ensuring transparent climate-disclosures to stakeholders. The rule mandates directors to embed climate change within corporate strategy, oversight, and disclosure. Key board concerns include readiness for mandatory disclosures, clarity on climate-related risks and impacts, board oversight on climate-related assessments, and reporting capabilities. The SEC's initiative aligns with its responsibility to provide timely material information to investors and counteracts greenwashing. The proposal mirrors global disclosure frameworks like TCFD and GHG Protocol. The rule is currently under review with a decision anticipated in Autumn 2023. TSB Thought Leadership Upcoming Webinar 31st of August 2023 11am ET / 4pm BST Business Resilience and Adaptation in an Era of Extreme Heat Events As the mercury rises across the globe, extreme heat events are becoming a new normal. It's not just an environmental crisis; it's a business one, too. From disrupted supply chains and operational challenges to increased employee health risks, the impact of extreme heat on business operations is significant and far reaching. Adapting to these changes is not a choice but a necessity for businesses. But what does adaptation look like in the context of extreme heat? What role do business leaders and boards play in fostering resilience, and how can these adaptation strategies be implemented across various industries? Podcast Leadership Conversations Live: Building a Sustainability Culture In the first live session of our podcast we discuss the secrets to 'Building a Sustainability Culture'. We explore the highlights and insights from a new report with Paul Washington from The Conference Board' and Srinand Yalamanchili from Baker Tilly. We discuss how boards, management, and the entire organisation play crucial roles in shaping this culture, as well as the role of purpose and incentives. Leadership Conversations by TSBR Beth Sasfai of Cooley on Ambitious Sustainability Goals In this episode we speak to Beth Sasfai, Partner at the renowned law firm Cooley. We talk about the challenge of sustainability reporting requirements and how most companies have lost the idea of big ambitious goals. We also discuss the difference in sustainability governance and ESG strategy between public and private businesses, and common blind spots in start-ups that create risk. Beth talks about her personal experiences counselling for clients on ESG; which stakeholders she considers to be the most influential right now; and she shares her recommendations for sustainability oversight on board level. Our new Membership (available soon) Our memberships will be tiered into 'corporate' and 'individual' with distinct benefits. Both tiers will enjoy member-only thought leadership, insights, and best practice as well as preferred access to our policy and research. Our individual membership is tailored to empower executives and board directors, equipping them with essential sustainable leadership skills and the capacity to effectively implement and oversee stakeholder driven ESG agendas. We will aid in personal leadership transformation and provide custom coaching sessions through our advisor network.

This article was first published in Board Agenda in August 2023. The board has a crucial role in identifying, assessing, and monitoring sustainability strategy, including ESG, technology and diversity. We live in a time marked by high levels of uncertainty across various domains, including geopolitics, technological advancements, and environmental and social concerns. These factors, in combination with the rapid pace of change, have led to the emergence of new realities for businesses. One critical response to this evolving landscape is the implementation of a solid sustainability strategy, informed by the principles of ESG (environmental, social and governance). In the present context, we would also urge boards to consider the impacts of technology. Boards need to be able to identify, assess and monitor all that will impact stakeholders, be they shareholders, clients, employees or others. To add to the complexity, sustainability is not only multidimensional but also transformative. Boards ought to keep a short and long term perspective. We recommend the following approach to structure an informed and cogent approach to sustainability: Step 1: Identify ESG engagement of boards: over the past four years, The Sustainability Board reported a material acceleration in ESG engagement of boards, from 16% in 2019 to 45% in 2022. This means that there is a recognition of boards to seek an ESG/sustainability knowledge base. It is important to understand who the specific knowledge owners are, and the overall ESG competence level of the entire board, including its chair. AI has been a hot topic on earnings calls lately and we expect this trend to endure. Technology, a sustainability issue: in addition to climate and social concerns, we have seen concerns emerge about cybersecurity and technology such as artificial intelligence (AI). For instance, AI has a been hot topic on earnings calls lately and we expect this trend to endure and evolve with constantly emerging technology. Diversity and gender equality: Although women have been found to drive the sustainability agenda, they are still underrepresented on most boards, typically by 50%. Research by The Sustainability Board indicates that female board directors tend to be 60% more likely to be engaged in ESG matters than their male peers. Therefore, by increasing female representation on the board and within leadership teams, organisations can naturally enhance their commitment to sustainability. After identifying key sustainability issues, the board’s next step is to assess the potential impacts of these issues, both from a short- and long-term perspective. Step 2: Assess Board directors should acquire a deeper understanding of sustainability related issues and technological innovations. This may require them to upskill and, more importantly, regularly inform themselves about new developments in areas such as AI and cybersecurity, climate change, natural capital, and social values. Scenario planning is a useful exercise to imagine plausible futures within these areas. If a lack of diversity is identified, boards should implement a strategy to change their culture and add gender and ethnic diversity. It is essential to have a mix of individuals from diverse backgrounds and experiences who have managed to break through traditional barriers in their respective contexts to foster ‘out of the box’ thinking and consider wider perspectives. The most clear-cut case, however, is for empowering women. Although women have been found to drive the sustainability agenda, they are still underrepresented on most boards. As a third step, boards might need to put a new governance framework in place that will allow them to monitor closely the implementation of sustainability commitments, as well as the progress of culture changes that inevitably come with it. Step 3: Monitor Seek a reality check by identifying the organisation’s position in key areas previously identified and assessed. These might include climate change, technology, social equity, and assurance of the governance structure’s soundness. It is advisable to mandate an independent third party to provide an assessment of the current oversight processes. This snapshot could be used as starting point to build the implementation plan and its monitoring framework. KPIs for sustainability commitments: To monitor the implementation or operationalisation of an organisation’s sustainability commitments, boards should employ quantitative and qualitative key performance indicators (KPIs). These can be designed to help identify any gaps or discrepancies in the business’s efforts to implement the board’s strategy. Qualitative KPIs should, further, be designed to capture the necessary evolution of the organisation’s culture, as this will underpin all transformation. It is advisable to mandate an independent third party to provide an assessment of the current oversight processes. Frequency of monitoring: boards might want to closely and more frequently monitor the strategy and its implementation. This will detect hurdles and hidden obstacles in the organisation’s actions early on, such as red flags in client engagement, or dubious products. Most boards still only meet four times a year. Considering the urgency and impact of the sustainability challenge—and, specifically, climate-related issues—meeting frequency might need to be increased. It might also be necessary to give directors access to ‘aides’ sitting in different divisions of the organisation, and to external educational and other resources. With governments and regulators worldwide imposing stricter rules for companies to address sustainability risks and demonstrate responsible practices, the onus is on board directors to ensure compliance with these evolving legal and regulatory requirements. Their strategy should include frequent and continuous monitoring, independent assurance, and fostering diverse perspectives. As such, it is time for boards to stay attuned to external global dynamics and internal realities, make informed decisions, seize opportunities amid uncertainty, and lead the charge towards a more sustainable future for all. About the Authors Frederik Otto is the founder and executive director of The Sustainability Board an independent think tank, supporting sustainable leadership and governance. Frederik is a leader in consulting multinational companies on organisation and human capital strategy with a focus on sustainability and ESG. He is also a member of the Council for Inclusive Capitalism and a fellow of Salzburg Global Seminar. Fatima Hadj is a senior executive in the banking and asset management industry, with experience in scaling businesses across financial services that have a positive impact for investors. Fatima is a member at ChapterZero, the Chair of the Principles for Responsible Investments (PRI)’s committee for ESG integration in securitised products, and was named a Goalkeeper of the Bill & Melinda Gates Foundation.

In this episode we speak with Frank White, a space philosopher. Frank has coined the term ‘The Overview effect’ which describes the awe-inspiring experience of viewing the Earth from space. He has found that with great consistency, this experience profoundly affects space travellers’ perceptions of themselves, our world, and our future. He talks to us about the magnitude of overview effect experiences, sustainable space migration, and why all his narratives aim to create a sustainable future on earth. Frank also suggests we need an 18th UN Sustainable Development Goal: Space. Listen to the podcast here: Apple Podcasts Spotify Soundcloud About Frank White Frank White is an educator, writer, and communications consultant. He has authored or coauthored numerous books on topics ranging from space exploration to artificial intelligence to Zen Buddhism. His best-known work is The Overview Effect: Space Exploration and Human Evolution. He is the co-founder, president, and board chair of The Human Space Program, Inc. www.humanspaceprogram.org www.frankwhiteauthor.com About 'Leadership Conversations by TSB' The Sustainability Board is an independent non-profit organisation, supporting sustainable leadership and governance through research, thought leadership, and intelligence services. We believe that poor leadership is a systemic risk, and that business is a powerful vehicle for positive change. Our reports, intelligence, dialogues, and community aim to drive accountability for a sustainable future. Leadership Conversations is the podcast of TSB. In this interview series we interview global leaders who advocate for more positive societal impact and responsible business. Leadership Conversations is hosted by Frederik Otto.

In this episode of Leadership Conversations by TSB, we speak with Alison Taylor, Clinical Associate Professor at NYU Stern School of Business and Executive Director at Ethical Systems. She discusses the current state of sustainable business, particularly in the U.S., exploring the polarised perspectives and the impact of political and social dynamics on corporate ethics. Alison challenges common myths and misconceptions about business sustainability and ethics. She emphasises the need for a strategic, limited, and authentic approach to sustainability, criticising both overly ambitious corporate promises and the unrealistic expectations placed on businesses. The episode offers a critical look at the narratives surrounding sustainable business practices. Alison also gives a sneak peek into her upcoming book, "Higher Ground: How Business Can Do the Right Thing in a Turbulent World," which aims to provide practical advice for corporate leaders grappling with ethical challenges in the 21st century. Listen to the podcast here: Apple Podcasts Spotify Soundcloud About Alison Taylor In this episode of Leadership Conversations by TSB, we speak with Alison Taylor, Clinical Associate Professor at NYU Stern School of Business and Executive Director at Ethical Systems. She discusses the current state of sustainable business, particularly in the U.S., exploring the polarised perspectives and the impact of political and social dynamics on corporate ethics. Alison challenges common myths and misconceptions about business sustainability and ethics. She emphasises the need for a strategic, limited, and authentic approach to sustainability, criticising both overly ambitious corporate promises and the unrealistic expectations placed on businesses. The episode offers a critical look at the narratives surrounding sustainable business practices. Alison also gives a sneak peek into her upcoming book, "Higher Ground: How Business Can Do the Right Thing in a Turbulent World," which aims to provide practical advice for corporate leaders grappling with ethical challenges in the 21st century. About 'Leadership Conversations by TSB' The Sustainability Board (TSB) is an independent think tank. We believe that poor leadership is a systemic risk, and that business is a powerful vehicle for positive change. As such, we aim to advance sustainable practices in leadership and governance by providing research, thought leadership, intelligence, and education programmes. Leadership Conversations is the podcast of TSB. In this interview series we interview global leaders who advocate for more positive societal impact and responsible business. Leadership Conversations is hosted by Frederik Otto.

Staying ahead on sustainability and ESG strategies is crucial for the long-term success and viability of any organisation. Executive and board leaders have a special responsibility to stay on top of these considerations and lead from the top. Over the last five years The Sustainability Board has been dedicated to promoting sustainable leadership and corporate governance through insightful reports, expert discussions, intelligence, and community. Our work has been recognised by some of the world’s leading authorities on business and leadership and we’re now making our sustainability, leadership, and governance expertise available to individuals and organisations. ​ The Sustainable Leadership Preparedness Programme (SLPP) is our new membership programme designed to advance sustainable leadership and corporate governance, developed for executive leaders and non-executive directors and chairs. ​ The programme includes the Sustainable Leadership Preparedness Certificate (SLPC), the essential guide to senior leadership level ESG mastery. The course is comprehensive, concise, and contextual and was built to apply in a management and governance context. Participants will get all they need to know about sustainable business and leadership in approximately 25 hours of duration, and we accompany learners over 12 months with 4 interactive live sessions and roundtables to help them act on their commitments. On successful completion participants earn The Sustainability Board’s Sustainable Leadership Preparedness Certificate. Watch the programme trailer below: Further details about the programme as well as the corporate tier, and leadership development add-on can be found here.

In the first live session of our podcast that was held in August 2023 we discuss the secrets to 'Building a Sustainability Culture'. We explore the highlights and insights from a new report with Paul Washington from The Conference Board' and Srinand Yalamanchili from Baker Tilly. We discuss how boards, management, and the entire organisation play crucial roles in shaping this culture, as well as the role of purpose and incentives. The report 'Building a Sustainability Culture' can be downloaded here: https://www.conference-board.org/press/press-release-building-a-sustainability-culture Listen to the podcast here: Apple Podcasts Spotify Soundcloud About Paul Washington Paul Washington has led The Conference Board ESG Center, the premier US-based nonprofit think tank addressing corporate governance, sustainability, and citizenship, since 2019. Before joining The ESG Center, he served for nearly 20 years as an executive at Time Warner Inc., including as Senior Vice President, Deputy General Counsel, and Corporate Secretary, as well as Chief of Staff for the company’s Chairman and CEO. In those roles, he was responsible not only for leading the company’s corporate governance practices, but also for an array of legal areas including antitrust, intellectual property, and regulatory and international law. He also played a key role in developing the company’s sustainability strategy and restructuring its corporate citizenship programs. Prior to Time Warner, Paul practiced law at the firm of Sidley & Austin and served as Vice President and Corporate Secretary of The Dime Savings Bank of New York. Paul’s career also includes extensive work in public service at the federal, state, and local levels and all three branches of government, including serving as a law clerk for former Supreme Court Associate Justice William Brennan and Associate Justice David Souter, and for Circuit Court Judge David Tatel. Paul also served as the lead staffer on tax matters for former Congressman Stanley Lundine and, later, as his principal speechwriter when Lundine served as New York’s Lieutenant Governor. A long-time, active Member of The Conference Board, Paul chaired its Advisory Board on Corporate/Investor Engagement from 2013–2014. Paul has also served on over two dozen boards of cultural, civic, and professional nonprofit organizations, including as the former Chairman of the Society for Corporate Governance. He also served as an adjunct professor at Fordham Law School where he taught corporate governance for over a decade and later served as a Resident Fellow. Paul graduated from Yale College and Fordham University School of Law. About Srinand Yalamanchili Srinand is a director with Baker Tilly in the strategy and management consulting advisory practice. With specific experience focusing on environmental, social and governance (ESG) matters, Srinand’s subject matter industries extend across the ESG landscape including climate change mitigation and ESG strategy, regulatory reporting requirements, net-zero strategy, materiality, and renewable energy incentives. His focus is industry-agnostic, centered on providing businesses revenue, operational and reputational benefit through the adoption of ESG principles. About 'Leadership Conversations by TSB' The Sustainability Board is an independent non-profit organisation, supporting sustainable leadership and governance through research, thought leadership, and intelligence services. We believe that poor leadership is a systemic risk, and that business is a powerful vehicle for positive change. Our reports, intelligence, dialogues, and community aim to drive accountability for a sustainable future. Leadership Conversations is the podcast of TSB. In this interview series we interview global leaders who advocate for more positive societal impact and responsible business. Leadership Conversations is hosted by Frederik Otto.

In the second part of our Future Ready Board series we speak to Paul Washington, Executive Director of the Environmental, Social and Governance Center at The Conference Board. Paul explains to us how the relationship between NGOs, government and business has changed. We also speak about what makes a sustainable board and what challenges lie ahead. Paul gives us some examples of specific stakeholder groups and how the dynamics between these players has changed the corporation. Listen to the podcast here: Apple Podcasts Spotify Soundcloud All links to Paul’s cited research can be found below: Toward Stakeholder Capitalism: What the Shift Means for CEOs and the C-suite Board Composition: Diversity, Experience, and Effectiveness Telling Your Sustainability Story Six Questions Boards Should Ask About Their Company's Political Activity Strategy How Companies Can Make Decisions and a Difference on Social Issues About Paul Washington Executive Director, Environmental, Social and Governance Center The Conference Board Paul Washington is a recognized leader with a distinguished career in the ESG space. Before joining The Conference Board ESG Center, he served as Senior Vice President, Deputy General Counsel, and Corporate Secretary of Time Warner Inc. He also served as Chief of Staff for the company’s Chairman and CEO, after holding positions of Assistant General Counsel and Litigation Counsel. Prior to Time Warner, Washington practiced law at the firm of Sidley & Austin and served as Vice President and Corporate Secretary of The Dime Savings Bank of New York. Washington brings an in-depth understanding of The Conference Board and its offerings. A long-time active member of the organization, from 2013-2014 he chaired its Advisory Board on Corporate/Investor Engagement. Washington's distinguished career also includes extensive work in public service. He served as a law clerk for former Supreme Court Associate Justices William Brennan and David Souter, and for Circuit Court Judge David Tatel. In addition, he was the principal staffer on tax matters for former Congressman Stanley Lundine and, later, his principal speechwriter, when Lundine served as New York’s Lieutenant Governor. Washington has served on the boards of numerous cultural, civic, and professional non-profit organizations, including the Legal Aid Society and American Folk Art Museum. He also is the former Chairman of the Society for Corporate Governance. Washington graduated from Yale College and Fordham University School of Law; he is a Resident Fellow at the latter, where he has taught corporate governance for over a decade. About 'Leadership Conversations by TSBR' Leadership Conversations is a podcast by The Sustainability Board Report (TSBR), an independent not-for-profit project. We aim to showcase different dimensions of sustainable business leadership and corporate governance. In this podcast we interview global leaders who advocate for more positive societal impact and responsible business. Leadership Conversations is hosted by Frederik Otto and Helena Guðjónsdóttir.

Formerly known as 'The Sustainability Board Report,' we are excited to announce our new name. As our organisation has evolved and grown, we now embrace a broader mission as a comprehensive resource for policy and research, thought leadership, and intelligence services in the realm of sustainability. While we initially gained recognition through our groundbreaking report on ESG engagement of boards, our new identity as 'The Sustainability Board' reflects our commitment to go beyond reporting. Our vision is to foster a community of sustainable leaders, empowering them to drive positive change in the corporate world and beyond. As we embark on this journey, we look forward to offering invaluable insights, innovative solutions, and a forthcoming membership programme that focuses on cultivating and nurturing sustainable leadership. Thank you for joining us in this exciting phase, and we invite you to explore our enriched platform as we continue our dedicated efforts to build a more sustainable and resilient future.

In this episode we speak to Beth Sasfai, Partner at the renowned law firm Cooley. We talk about the challenge of sustainability reporting requirements and how most companies have lost the idea of big ambitious goals. We also discuss the difference in sustainability governance and ESG strategy between public and private businesses, and common blind spots in start-ups that create risk. Beth talks about her personal experiences counselling for clients on ESG; which stakeholders she considers to be the most influential right now; and she shares her recommendations for sustainability oversight on board level. Listen to the podcast here: Apple Podcasts Spotify Soundcloud Amazon Music About Beth Sasfai Beth’s practice focuses on advising public and private companies, investment funds and their boards in a broad range of corporate matters, with an emphasis on their ESG matters, including sustainability reporting, board oversight and disclosure controls, and shareholder and stakeholder engagement. She has extensive experience developing robust environmental, social and governance (ESG) strategies and driving forward a wide range of ESG initiatives, from corporate governance and board affairs to ESG reporting and shareholder engagement issues – and more. Before joining Cooley, Beth served as Verizon’s senior vice president, governance and chief ESG officer. While at Verizon, she was responsible for the company’s ESG strategy, disclosure and related stakeholder advocacy while leading a cross-functional team of lawyers and sustainability professionals responsible for corporate governance policy and board affairs; ESG commitments, reporting and engagement; business and human rights; digital trust and safety; compliance with corporate and securities laws; legal support to investor relations and external reporting; and advising on other general corporate matters. She also served as a management liaison to the Corporate Governance and Policy Committee of the Verizon board of directors, the committee charged with overseeing sustainability, governance, public policy and reputational risk. Previously, Beth was vice president and associate general counsel, litigation for Verizon corporate. In that role, she was responsible for litigation and dispute resolution nationally for Verizon’s corporate, wireline, wireless, and enterprise and government businesses. Beth has more than 20 years of experience, including a strong background in regulatory, governance, public policy and corporate litigation. Before joining Verizon, Beth also practiced in the corporate and litigation groups of prominent New York City law firms. About 'Leadership Conversations by TSB' The Sustainability Board is an independent non-profit organisation, supporting sustainable leadership and governance through research, thought leadership, and intelligence services. We believe that poor leadership is a systemic risk, and that business is a powerful vehicle for positive change. Our reports, intelligence, dialogues, and community aim to drive accountability for a sustainable future. Leadership Conversations is the podcast of TSB. In this interview series we interview global leaders who advocate for more positive societal impact and responsible business. Leadership Conversations is hosted by Frederik Otto.