The shift to net zero is urgent, and boards have a critical role in guiding companies. Yet many of the board members have little training or background in sustainability. The boards need to reskill – something that we highlight in our book Shift: Decisions for a Net Zero World.
The table below presents a worrying picture. There is a need for a generational change in the board composition. Companies need to bring in a newer generation that thinks more about sustainability. There is also a need for board members to reskill themselves to be relevant. Board members need training on many aspects of ESG and sustainability. They need to understand the measurement and management of risks embedded in current ways of doing things and the reputational challenges involved.
The “G” in governance needs more a more skilled board team. That will help push the shift to net zero.