Since 2020 slowly fades into the rearview mirror and reveal new data The year was the hottest in existence. Company boards seem ill-equipped to respond to the risks of the climate crisis.
Bloomberg recorded Wednesday that only 6% of 1,188 directors at 100 of the largest US companies had “relevant references” in environmental protection, citing a study from the Stern Center for Sustainable Business at New York University.
NYU’s Tensie Whelan told the publication that almost all corporate boards of directors lack the expertise on “financially material ESG matters” such as climate change, workforce diversity and supply chain scandals, adding:
Without board members who have a strategic understanding of the issues, the board does not know the questions to be asked and does not even understand that the potential risks might exist.
NASA analysis shows 2020 is the warmest year ever [NASA]
Many US corporate boards do not fully understand the climate crisis [Bloomberg]
US corporate boards suffer from insufficient expertise in financially significant ESG matters [NYU Stern Center for Sustainable Business]
Jeremy Barker is the Director of Content Marketing for Breaking Media. Feel free to email him with questions or comments and connect on LinkedIn.