Most corporate boards lack a strong grasp of the ESG risks facing their companies or an understanding of company ESG strategy, according to PwC’s latest annual Corporate Directors Survey, and while ESG is working its way into key risk management practices, board discussions rarely include key topics such as human rights and climate change.
Most corporate boards lack a strong grasp of the ESG risks facing their companies or an understanding of company ESG strategy, according to PwC’s latest annual Corporate Directors Survey, and while ESG is working its way into key risk management practices, board discussions rarely include key topics such as human rights and climate change.
For the survey, PwC surveyed 704 board directors from companies across more than 12 industries. 72% of those surveyed represented companies with annual revenues over $1 billion, and 64% have served on their boards for more than 5 years.
The survey found that boards continue to increase their focus on ESG issues, with 55% of directors reporting that ESG issues are regularly a part of their boards’ agendas, up slightly from 52% last year, and from only 34% in 2019. Importantly, company-wide risk calculations appear to be integrating ESG considerations, with 65% of directors saying that ESG is part of the board’s enterprise risk management discussions.
Read the full article here: https://www.esgtoday.com/pwc-survey-more-than-half-of-boards-lack-a-strong-understanding-of-esg-strategy-or-risks/