Global business and investment leaders are calling for the integration of sustainability concerns in corporate governance frameworks.
How far it is sufficient for business sustainability to be built into company reporting, and whether this is also necessary in respect to board obligations, will reach a watershed moment in the forthcoming European initiative on sustainable corporate governance.
A "call to action" for Europe and other regions in the world to have courage to do this has been published internationally today, Tuesday 9 March, and is authored by some of the most renowned world leaders in business, investment and corporate governance.
The letter argues integration of sustainability concerns in corporate governance frameworks is absolutely necessary, stating:
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This week saw the release of a new draft code for UK corporate governance. While many were distracted by measures on executive pay, the code's real mission is social "injustices", as highlighted by Theresa May last year.
The first governance code was launched in Britain 25 years ago, following a set of corporate scandals. Since then, governance has evolved to tackle more complex challenges that are no longer local—they're global, and they're pressing.