Primary schooled
Loyal readers of this column will remember our preoccupation with Vivek Ramaswamy, the biotech entrepreneur and scourge of ESG thinking inside corporate America. Ramaswamy (pictured) so dislikes ESG-style thinking in corporate governance that he penned a book—Woke Inc—slamming it, followed by Capital Punishment, another tome doing much the same thing.
Anyway, Ramaswamy thinks so highly of Vivek Ramaswamy that he’s put himself up as a candidate for the Republic nomination for the presidential race next year.
In this week’s first debate of the Republican primary, The Guardian reports he told viewers: “God is real. There are two genders. Fossil fuels are a requirement for human prosperity. Reverse racism is racism. An open border is not a border. Parents determine the education of their children. The nuclear family is the greatest form of governance known to man. Capitalism lifts us up from poverty.”
Surely we’re not the only ones who feel his definition of governance leaves a lot to chew on, to put it kindly. And the fossil fuels remark? Well, Ramaswamy is in danger of making himself the fossil with that kind of mindset.
Our survey says…
Ramaswamy’s stance is strange, not least because corporate America doesn’t seem to be listening. Or agree.
A study by law firm Russell Reynolds in the US finds that the number of women taking CEO roles in the world’s leading stock indices now stands at 13%, up from 2.4% in the first half of 2018.
Meanwhile, fellow headhunters Spencer Stuart say that 56% of boards have “composition” as their main focus in the coming year, with diversity continuing to be important. Indeed, the firm finds that 67% of new directors in the US are “diverse”—defined by NASDAQ as people from under-represented minorities (Black or African American, Hispanic, Latin, Asian, Native American, female or LGBTQ+).
Despite all that, Spencer Stuart concludes representation of minority groups is still “lagging”. One wonders what will happen to the nuclear family with this kind of thinking going on. Goodness!
Fast gains
Oh, here’s another shocker. ESG professionals believe that increased disclosure will boost the competitiveness of their organisations.
A survey by Workiva finds 90% of ESG pros—among 900 across the globe—believe better reporting means a headstart for those who do it.
By all accounts, the longer a company has been putting out ESG reports, metrics and data, the more likely they have made cost savings and amplified brand awareness and their reputations.
And analysis found that ESG regulation has grown by 155% in the past decade. But, of course, according to some, all these people are mistaken and “human prosperity” must be in danger. Right?
C’s the day
And lastly, the C-suite is about to see new blood. So says a report from Leadership Dynamics, the, er, leadership experts.
They say the changing times mean boards everywhere will be making room for a chief supply chain officer, chief AI officer and chief growth officer and possibly even a chief empowerment officer (we’ll let you know what it is when we find out —Ed).
Samuel Roberts, a strategy guru at Leadership Dynamics, says: “The C-suite of tomorrow is a complex nexus of innovation, adaptability and strategic prowess.” The boardroom’s going to be crowded though, and with all that “prowess” going on, someone better open a window.