Without question, the disaster that’s unfolding in the Gulf of Mexico is a case study in the lack of corporate sustainability oversight.
But, now there’s a new report that says the problems aren’t limited to BP or even “big oil.” According to this latest research, most corporations don’t seek out independent sources of information on the impact of business operations on the environment, and most lack detailed procedures and metrics for integrating social objectives into daily corporate activities.
The report, Sustainability in the Boardroom, released yesterday by The Conference Board, reveals that few companies consistently elevate sustainability issues to the strategic discussions that take place at the board level. As a result, the vast majority of directors (89 percent) continue to base their decision on reports by senior executives, and most sustainability discussions with the board only take place in reaction to emergency situations.
Here are a few additional, and equally sobering, findings from the report: (more…)