Corporate Responsibility and Sustainability
The issues associated with corporate responsibility and sustainability have become increasingly relevant to boardroom discussions. Also referred to as environment, social, and governance (ESG) issues or corporate social responsibility (CSR), these topics run the gamut from corporate reporting and response, to global climate change and business sustainability matters, to the handling of labor and community relations.
Corporate responsibility is about good citizenship and the recognition that companies have obligations beyond those to their shareholders. It has become critical to risk management and, thus, to business strategy. As such, it warrants board attention. More companies are recognizing that it is possible to integrate environmental and social rewards with financial ones.
"For an organization to maximize a sustainability strategy, the program’s progress and performance must be measured and integrated into management’s priorities. By ingraining governance as a core element of its sustainability initiative, an organization can design and implement an enterprise-wide strategy that is more than the sum of its parts. This result will be a strategy that can drive long-term growth and position an organization for leadership in a dynamic and shifting world. Governance plays a critical role in the development and realization of strategies addressing emerging priorities in the areas of sustainability, climate change, energy and corporate responsibility."
Chris Park, principal, Deloitte Consulting LLP
Learn more about the Sustainability & Climate Change practice.
- Business Trends 2013: Eight trends that have the potential to upend long-held assumptions, energize strategic planning efforts, and shift the business environment
- Finding the Value in Environmental, Social and Governance Performance
- Going from Good to Great: Ways to make your sustainability report business-critical