CSB Research Highlighted in Forbes Investigation of Corporate Sustainability
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The push for corporate sustainability has seen rapid growth in recent years, but an article recently published in Forbes asks whether companies should settle for anything less than perfection when it comes to improving performance in material ESG issue areas. According to the article, a September 2021 report published by environment and social impact company ClimateCare revealed more than 60% of Fortune Global 500 companies are not committed to meeting a meaningful climate goal by 2030.
Further, the article highlights CSB’s research that shows only 29% of 1,188 Fortune 100 board directors had relevant ESG credentials in 2019, with only a mere 6% having environmental expertise.
With mediocre efforts to combat important issues such as climate action, diversity and inclusion, ending poverty, and responsible consumption, the author points out that companies not only open themselves up to physical and financial risk, but also miss out on chances to innovate.
While there has also been progress made in corporate sustainability—notably large increases in net zero and carbon neutral commitments, and science-based targets—it is important not to settle on impact when there is much more room for improvement.
Excerpt: “There’s no question that getting to perfection takes time and it’s not easy. Innovation doesn’t happen overnight (and it’s expensive). Changing behaviors is complex. But no progressive company should settle for a hall pass. Getting to perfect is a journey, and it requires fearlessly calibrating commitments and goals to match the size of the problem, even one of the magnitude of climate change.”
Further, the article highlights CSB’s research that shows only 29% of 1,188 Fortune 100 board directors had relevant ESG credentials in 2019, with only a mere 6% having environmental expertise.
With mediocre efforts to combat important issues such as climate action, diversity and inclusion, ending poverty, and responsible consumption, the author points out that companies not only open themselves up to physical and financial risk, but also miss out on chances to innovate.
While there has also been progress made in corporate sustainability—notably large increases in net zero and carbon neutral commitments, and science-based targets—it is important not to settle on impact when there is much more room for improvement.
Excerpt: “There’s no question that getting to perfection takes time and it’s not easy. Innovation doesn’t happen overnight (and it’s expensive). Changing behaviors is complex. But no progressive company should settle for a hall pass. Getting to perfect is a journey, and it requires fearlessly calibrating commitments and goals to match the size of the problem, even one of the magnitude of climate change.”