Join BDO's Center for Corporate Governance Amy Rojik as she sits down with Lara Lee, Fortune 50 executive and now seasoned independent board member, to discuss how boards can reframe ESG by taking a strategic, holistic approach that moves beyond the obligations of disclosure and mitigation toward the opportunities of innovation and enhanced reputation. Lara is an expert in turning disruption, challenges, and emerging threats into sources of strategic repositioning and innovation.

Key Takeaways

• Best approaches to ESG are: strategic, holistic AND human

• ESG is not a check the box exercise but should be prioritized around elements that are both material (e.g., have significant business impact) and have strategic importance

• ESG is a lens to identify both risk and opportunity with a focus on long-term value creation and sustainable health of the business throughout the value chain

Don’t let the tail wag the dog:

• ESG can be a catalyst for innovation and re-alignment of business strategy

• The board needs to set the tone that it’s not simply about disclosure and risk mitigation but balanced with opportunity

• ESG should not be an initiative in and of itself – it is a tool (not a strategy)

• Boards need to remain independently informed on the evolving ESG landscape