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Thursday, November 3, 2011

Corporate Boards Should Be Involved in Sustainability Program, Report Says

Sustainability issues have become a central concern for corporations, due in part to increased public scrutiny on corporate activities, changes in legislation, and awareness among executives of the importance of stakeholder support. According to a new report from The Conference Board, this elevated importance requires supervision from the top. Yet, the report identifies a knowledge gap among corporate boards of directors on the interaction between corporate governance and sustainability.

The report, Sustainability Matters: Why and How Corporate Boards Should Become Involved is an effort to bridge that gap. It is the result of a recognized need for guidance for corporate boards on how to oversee a sustainability strategy. It discusses the role of a corporate board of directors in designing, endorsing and overseeing the implementation of a corporate sustainability program, and highlights several issues for boards to consider, such as the business case for sustainability, the legal case for sustainability, emerging practices and customer value.

OSH Should Be a Priority
Based on 2010 data from the Board, workplace safety and operational integrity was ranked the top issue likely to be faced by a corporate board during the coming year. However, ASSE believes occupational safety and health (OSH) is an immediate issue, rather than an emerging one. The Society is committed to ensuring that OSH is given due importance in the assessment of an organization’s commitment to the sustainability agenda. In yesterday’s blog, we told you about a call to action by ASSE President Terrie Norris, CSP, ARM.

“Given the estimated 337 million workplace accidents globally each year and 6,300 people killed each day at work, the importance of OSH within the sustainability agenda has never been greater–nor your support needed more,” Norris writes. “ASSE believes that a sustainable workforce and workplace should be considered important topics when benchmarking organizational performance.”

Norris urges members to complete Global Reporting Initiative’s (GRI) G4 public comment period survey by Nov. 24, 2011.