A New Methodology to Help GCs Deal with COVID-19 ESG Issues
GCs have focussed on corporate governance for some time, but the 'E' and the 'S' of ESG have now moved further up the agenda.
As companies emerge from the containment phase of the COVID-19 pandemic, environmental, social and governance (ESG) performance is emerging as an important item on the GCs’ list of priorities.
The market dynamic of ‘stakeholder capitalism’ was already on the way to becoming the prevailing socio-economic agenda, but the human challenge of re-starting operations during a global pandemic has accelerated this process as stakeholders, including employees, contractors, communities and supply chains, have found their voice. This is fuelling multi-faceted pressure on corporations to adopt and deliver high standards of ESG performance. However, governments are not acting fast enough and in the absence of a single legislature telling them what to do companies are faced with the prospect of having to determine this for themselves.
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