This three-hour interactive event explored, from the board’s perspective,
the most challenging issues emerging in the ESG landscape, focusing on the
board’s role, as well as emphasizing practical advice for boards and
management. The program was led by Sabastian V. Niles, a
Partner from Wachtell, Lipton, Rosen & Katz, and John W. White,
a Partner from Cravath, Swaine & Moore LLP. Rather than dwelling on the SEC
and European proposals in the ESG arena, the discussion drilled down on ESG
related issues frequently encountered by boards today. Panel members discussed
board / board committee and management responsibilities with respect to ESG,
fiduciary duties, integrating ESG into strategy and operations, the importance
of reliable data and internal control procedures, ESG metrics and targets
related to compensation plans, ESG activists and shareholder proposals. Case
studies and scenarios were utilized to illustrate some of the complexities and
challenges. In addition to Sabastian
Niles and John White, the other participants were:
- Michael L. Arnold, Partner, Cravath, Swaine & Moore
LLP
- Catherine G. Dearlove, Director, Richards, Layton &
Finger
- Aaron Holmes, General Counsel North America & Senior
Managing Director, Accenture
- Professor Jennifer R. Joe, Whitney Family Endowed Chair of
Accounting, Cohen Family Lerner Director of Diversity, Lerner College of
Business & Economics, University of Delaware
- Justin P. Klein, Director, John L. Weinberg Center for
Corporate Governance, Lerner College of Business & Economics, University of
Delaware
- Carmen X. W. Lu, Counsel, Wachtell, Lipton, Rosen & Katz