Board of Directors Paying More Attention to CSR Opportunities

Boards of directors are increasingly paying attention to the risks and opportunities associated with corporate responsibility, sustainability and climate change, according to a survey commissioned and released today by Deloitte and Corporate Board Member magazine. The survey of 220 directors at U.S. companies with $1 billion or more in revenue highlights the board's growing role in oversight of corporate responsibility and sustainability (CR&S).

Key findings from the survey include:

  • 79% of directors responding have a strong or moderate understanding of the business risks associated with CR&S and climate change;
  • 76% have a strong or moderate understanding of the business opportunities associated with CR&S and climate change;
  • Almost one-half of directors think their boards and management are committed to addressing CR&S and climate change;
  • One-half of directors think their companies' response to CR&S is integrated into business strategy and risk management, while 41% report no such integration;
  • 30% of directors reported that their companies have set goals for reducing greenhouse gas emissions; 59% reported no such commitment; and,
  • Almost one-third of directors think there is growing investor interest in their companies' response to climate change/business sustainability issues, while 39% do not think there is growing interest.

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