Descriptions of Corporate Sustainability

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While corporate social responsibility, or CSR, is generally associated with ensuring the corporations contribute to sustainable economic development at the macro-level, the concept of corporate sustainability can be seen as primarily concerned with the survival, or sustainability, of the corporation itself, something that is necessary...

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Impact of Convergence on Corporate Regulation

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A previous article discussed the convergence of corporate social responsibility (CSR)  and corporate governance over the last several decades of the 20th Century.  In order to understand the impact of the convergence of CSR and corporate governance on corporate regulation, one must first be familiar...

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Convergence of CSR and Corporate Governance

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The growing importance of, and the relationships between, social and environmental issues and governance practices was emphasized in “Who Cares Wins: Connecting Financial Markets to a Changing World”, a report prepared by the UN Global Compact and released in 2004: “In a more globalized, interconnected and...

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Audit Committees and Sustainability Oversight

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The audit committee, working in collaboration with the board’s corporate social responsibility committee, should be expected to play an important role in overseeing the company’s sustainability policy, commitments, procedures and reporting.  Some of the specific duties and responsibilities of the committee in this area include: ...

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Linking Sustainability Performance and Executive Compensation

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It is no secret that incentive elements of executive compensation arrangements have long been tied to financial performance and increasing shareholder value as demonstrated by improvements in share prices.  Certainly financial success is important to the long-term viability of the business and provides the CEO...

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Does Your Board Have the Team and Resources to Manage Sustainability?

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It's essential for directors to consider whether the board has the full team and resources necessary to effectively and credibly carry out its oversight responsibilities.  Lipton et al. recommended that consideration needs to be given to the following issues and questions: Does the board have a...

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Creating Your Environmental, Health and Safety Policy

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It is essential for top management of the company to define the company’s environmental, health and safety ("EH&S") policy in a manner that is appropriate to the nature, scale and environmental impacts of the company’s operational activities.  Among other things, the policy should include a...

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Assessment of Sustainability Risks and Opportunities

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In order for directors to understand the scope of their responsibilities with respect to overseeing sustainability and determine how to best focus their energies, an assessment must be conducted of the issues, risks and opportunities that are material to the company’s operations, environment and communities.[1] ...

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Integrating Sustainability into Governance Policies and Processes

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Companies often designate a corporate secretary or another person to oversee administrative matters relating to governance processes.  Someone in this position would normally be expected to maintain relevant governance processes and structures through regular reviews and updates to the board manual and other governance documents;...

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Directors' Sustainability Roles and Responsibilities

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A Global Compact publication recommended that the roles of the entire board and individual directors with respect to sustainability be integrated into various policies and statements of the duties and responsibility of the board and directors as follows: In statements referring to the requirement to...

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