Mindsets are not shifting; there is a lack of urgency; and a ‘wait-and-see’ attitude prevails. This needs to change. Having people with appropriate knowledge and experience will go a long way to address this challenge.
Experienced Non-executive Directors will help improve awareness and provide guidance.
An ‘Executive -in- Residence’ does not hold the legal appointment of a director, but would be a ‘pillar of strength’ in the organization, working with the Board, C-Suite and management, to create and unlock value.
‘New generation risks’ are more difficult to manage and control.
Stakeholders are inadequately identified, assessed and generally there is no effective engagement.
With the intensity of Sustainability regulatory changes, there is a lack of awareness, understanding and compliance thereof – a key and possibly existential threat in the long-term.
There are significant ethical issues that need to be addressed:
- Greenwashing
- Bad corporate, business and organizational governance
- Diversity, Equity and Inclusion
- Work conditions, especially supply chain related, e.g. child labour
‘The biggest risk is not knowing what the cost of doing nothing is, and the opportunity cost of lost opportunities!’
