Societal expectations are increasingly pervading through corporate governance, as such, companies must evolve their business models to embrace lasting value creation that benefits not only the shareholders, but also internal and external stakeholders as well as wider society.
In an attempt to aid other businesses, ecoDa and Mazars have joined forces to create this practical guide to help board members and leadership teams navigate their sustainability journey and achieve sustainable success. It deals with topics like the importance of why leaders should commit to fostering sustainability and how to move towards a determined action. Our guide showcases a wide range of insights on what aspects to consider and what questions to discuss.
The guide utilizes a practical approach to address the importance of leadership and direction in sustainability efforts, along with the increasing legal and regulatory responsibilities directors face in this area. It is intended for boards of listed and privately owned businesses, including those led by entrepreneurs or family business owners.
Leena Linnainmaa, Chair of ecoDa
“ESG considerations are becoming a daily concern for both leadership teams and boards of directors. Engagement is the first step; however, it is vitally important to structure your approach to sustainability as a business, in order to meet your goals.”
Studies reveal seven critical success factors for a sustainable board and leadership team
Firstly, the guide offers insights on why directors and leadership teams should prioritise sustainability on their agenda, setting out seven critical success factors for directors to focus on in shaping the path ahead:
• Leadership and tone from the top
• Strong organisation-wide culture of sustainability
• Sustainability deeply embedded throughout the business
• A learning approach
• Openness in reporting
Key questions and practical next steps to tackle sustainability:
The second section presents several questions designed to help directors and leadership teams to identify areas where further action is needed, while the final section provides a tool to assess what stage your business is currently at in its sustainability journey.
This practical guide will aid boards and leadership teams in identifying which changes have the greatest impact and which they should prioritise to create a clear action plan, tailored to their business.
Gareth Jones, Partner and Global Head of Privately Owned Business at Mazars
“Businesses that attach sustainability as a critical success factor to their board agenda will be the ones that thrive in the future. It is not a matter of compliance or regulation, but an opportunity to create long-term value for all stakeholders in your business. Whether businesses are not sure where to start or have already begun their sustainability journey, our guide offers practical, tangible support on achieving sustainable business success.”