ESG
issues are increasingly taking center stage in the boardroom and with
investors. The Weinberg Center and the
Ceres Accelerator for Sustainable Capital Markets co-hosted a webinar
roundtable discussion, which focused on how corporate boards can effectively
oversee environmental, social and governance (ESG) issues. In particular, as the risks from ESG issues
such as climate change, water scarcity and human rights become more apparent,
and with growing investor attention and action on ESG issues, it is
increasingly important for corporate boards to understand how these issues
affect business strategy and performance.
The Roundtable reviewed and discussed Ceres' report, "Running the Risk: How Corporate
Boards Can Oversee Environmental, Social and Governance (ESG) Issues,"
which focuses on the critical role of the board in overseeing ESG risks
in order to avoid potential financial losses and/or litigation, and to
effectively respond to investor pressure.
In this webcast, the
Roundtable participants provided guidance on how boards can
effectively oversee risks posed by ESG issues, and provide
recommendations of questions directors should be asking management
throughout the risk identification, prioritization and mitigation
processes. .
The
Roundtable participants represented various constituencies – the
corporate/director community, investor community, legal community, and
academic community. The participants were:
- Veena Ramani, Senior Program Director, Capital Market Systems, Ceres (Moderator)
- Margaret Foran, Chief Governance Officer, Senior Vice President and Corporate Secretary, Prudential Financial, Inc.
- Michael Younis, Vice President, Asset Stewardship Team, State Street Global Advisors
- Cynthia Williams, Professor, Osler Chair in Business Law, Osgoode Hall Law School, York University (Toronto, Ontario, Canada) and
- Susan Mac Cormac, Partner, Morrison & Foerster LLP