Climate- and ESG-competent boards are in high demand by investors and other stakeholders. In fact, climate change and other environmental, social, and governance (ESG) issues have become some of the biggest challenges faced by 21st-century board directors. Today's boards must contend with a wide range of stakeholders who can affect the fortunes of a company-customers, suppliers, employees, shareholders, politicians, activists, and social-media influencers, among others. This book argues that for long-term profits and sustainability, boards need to not only define the purpose of their company in society but have the insight to ask the right questions of management on complex issues such as climate change, ESG, corruption, cybersecurity, human trafficking, supply-chain resilience, and much more. With insightful contributions from over one hundred world leaders as well as relevant international case studies, this book provides board members and executives with a practical guide to mitigate the risks and seize the opportunities. Insights include the following: - ESG disclosures must meet the same robust standards as reports on financial performance. Few individuals currently understand how to collect, test, and present ESG data in the same rigorous format as financial data. - For corporate boards, the focus is shifting from how a company's activities impact climate to how climate change will hurt or help the company's financial performance. - Upcoming ESG changes will be so significant that most companies will have to rethink their entire business model. To tackle those issues effectively, boards must include younger and more diverse members. - Boards that fail to tackle climate change risk facing a wave of lawsuits, like those that engulfed asbestos manufacturers in the 1980s. - The transition to a net-zero or net-positive economy may create the greatest commercial opportunities of our time. - Cybersecurity has become a key business risk. Companies will be judged on how well, and how proactively, they respond. The insights shared in this book have one common message: the companies with the best chance of surviving and thriving will be guided by leaders with the foresight, knowledge, and determination to tackle the daunting challenges that confront all of humankind. Reviews: "I wish I had read this book many years ago. Not many have the insight and foresight of Helle Bank Jorgensen to see the risks and opportunities of the future that will help you ask the right questions." - Chad Holliday, former chair, Royal Dutch Shell and Bank of America "Many boards struggle with translating purpose and sustainability into the heart of their strategies, yet it is increasingly vital for long-term success. This book by Helle and Competent Boards is very timely, practical, insightful, and, for boards that do care about the long term, actually fun to read." - Paul Polman, co-founder and chair, IMAGINE; former CEO, Unilever "Helle Bank Jorgensen brilliantly describes the evolution of ESG to its current place of prominence in boardrooms and makes a powerful case for how it will drive value creation. A must-read for all directors and executives seeking to navigate these turbulent times." - Michael Kobori, chief sustainability officer, Starbucks "If I had just one person to guide me in being a better director, it would, of course, be Helle. Her breadth and depth of experience and her leadership in meeting head-on the complex challenges of the day is unmatched. Stewards of the Future should be required board reading." - Eric Wetlaufer, director, TMX Group and Investment Management Corporation of Ontario (IMCO) "A book about the future role and responsibilities of the board of directors could not be more timely. If that book is written by Helle Bank Jorgensen, based on her thirty years of experience advising companies and investors on ESG, climate, and sustainability, that book will be a bestseller." - Annette Verschuren, O.C., chair and CEO, NRStor Inc.; director, Air Canada, Canadian Natural Resources Limited, Liberty Mutual Insurance Group, and Saputo Inc.; chair, MaRS Discovery District and Sustainable Development Technology Canada (SDTC) "Climate, diversity, and other ESG issues have moved into the core of the boardroom. Learn and get inspired by Helle Bank Jorgensen's great book." - Torben M ger Pedersen, CEO, PensionDanmark "Directors are the stewards of the business information of a company. The stewards of the future need to apply their minds to make business judgement calls that are in the long-term best interests of the health of the incapacitated company, of which as stewards they are the heart, mind, soul, and conscience. This book guides a director how to be a good steward of a company in our uncertain future." - Mervyn King, one of the world's foremost authorities on corporate governance; chair of the King Committee on corporate governance "We live in changing and challenging times, and this puts extra pressure on board members, investors, and executives. What was right yesterday might not be tomorrow. Helle has so much valuable insight and experience, and a unique ability to look into the future and see the next best practices." - John Manley, P.C., O.C., chair, CAE; director, TELUS; former CEO, Business Council of Canada "Good stewardship today requires clear climate and sustainability strategies - integrated sustainability reporting matters!" - Jane Diplock, chair, Abu Dhabi Global Market regulatory committee; director, Value Reporting Foundation; director, Singapore Exchange (SGX) "Stewards of the Future: A Guide for Competent Boards answers the fundamental question facing every board of directors: in our current dynamic environment, what should the board do and what should the board continue to do? The foundation for the book's analysis is the board's responsibility to address the sustainability of the corporation in the future, its sustainability in the long term. The book then identifies the externalities impacting corporations and provides guidelines to boards to address these externalities These guidelines and the supporting questions that boards must ask of themselves, of management, of the corporation's stakeholders will enable the board to direct the corporation to a sustainable future. A sustainable future will create value, not just for shareholders, but for all stakeholders. This is a must-read treatise that is not just for board chairs but for every director of every corporation, whether public or private, big or small, profit or not-for-profit. I have been involved in the corporate sector in various capacities for my entire career, and by studying Stewards of the Future, I gleaned new principles and guidelines for best practice that I had never previously considered." - Peter Dey, chair, Paradigm Capital "If your actions create a legacy that inspires others to dream more, learn more, do more, then you are an excellent leader' - Dolly Parton. Stewards of the Future is a tool and guide for board members to be excellent leaders who guide and develop companies that create legacies beyond financial results. Who wouldn't want to be part of something that impactful?" - Mairead Lavery, CEO, Export Development Canada About the Author: Helle Bank Jorgensen is the CEO of Competent Boards, which offers the global online ESG Competent Boards Certificate and Designation Program with a faculty of over 100 renowned international board members, executives, and experts. She has a 30-year track record in turning Environment, Social, Governance (ESG), Climate, and Sustainability risks into innovative and profitable business opportunities. She has worked with many global Fortune 500 board members and executives, as well as smaller companies and investors. Helle was the creator of the world's first Green Account based on lifecycle assessment and of the world's first Integrated Report, the first integrated responsible supply-chain management system, and was the principal organizer for the CEO/Investor-network for Business Ethics and Non-Financial Reporting. She led the improvement of investor communication for global companies and has worked on Natural Capital Accounting for IFC/World Bank. Helle serves on many international boards, including World Economic Forum Expert Network for Corporate Governance, Leadership, and Emerging Multinationals; The Non-financial Digitisation Working Group of the Impact Management Project; the Reuters Panel of Expert Judges for the Responsible Business Awards; and The Canadian Climate Governance Experts. In 2020 she was awarded the Global Impact Award and named one of "5 people in ESG to look out for." She is a regular keynote speaker and author of many thought-leading articles and books. She is a business lawyer and state-authorized public accountant (CPA) by training and holds a master's degree in business administration and auditing. She is a former PwC audit and advisory partner in Denmark and the United States, leading sustainability and climate practices. |