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Wednesday, March 11, 2009

How to Bridge Corporate Sustainability Gap

A new study by Deloitte polled 220 board directors at U.S. companies with revenues of $1 billion or more. Most considered themselves to be well-informed about corporate sustainability. However, only half think their companies practice sustainability, and less than half think their board is committed of addressing sustainability issues.

Deloitte also published a whitepaper titled, The Responsible and Sustainable Board with recommendations for getting the board involved in sustainability, which include:

  • Get consensus: Schedule a forum for the board to talk about sustainability issues.
  • Ask the right questions of management.
  • Examine your environmental and social impact

The whitepaper listed the following traits which companies with strong sustainability programs share:
  • Set the tone at the top
  • Establish sustainability commitments and goals
  • Create a sustainability committee that will coordinate efforts
  • Include sutainability metrics in CEO compensation
  • Monitor sustainability performance with progress reports
  • Include sustainability in new director orientation.

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