Sustainability: Shifting from risk to opportunity

Increasing Federal Agencies' Scrutiny on Cybersecurity Incidents

The podcast highlights the increasing scrutiny faced by companies and cybersecurity leaders from various federal agencies. Examples include the Department of Justice (DOJ) going after the CISO at Uber for a hack incident, and the Securities and Exchange Commission (SEC) accusing SolarWinds of misleading investors. The SEC and DOJ are among the channels through which cyber incidents are addressed. This places chief information security officers (CISOs) in the crosshairs, emphasizing the need for better support and protection from companies, such as directors and officers' insurance coverage and access to attorneys.

Exploring New Perspectives on Sustainability Strategy

The podcast interview features Katherine Muff, director of the Institute for Business Sustainability, who challenges the conventional approach of reducing the negative environmental impact. Instead, she encourages organizations to focus on increasing their positive impact by strategically embedding sustainability in their core business strategy. This entails looking beyond reducing the carbon footprint and exploring innovative ways to contribute positively to environmental and societal challenges. Examples of green innovation include rethinking business models, dematerializing products, facilitating circular economies, and finding new revenue streams aligned with sustainability goals.

Connecting ESG with Positive Impact

The podcast explores the relationship between ESG (Environmental, Social, and Governance) and positive impact. The Institute for Business Sustainability conducted a study mapping Swiss organizations based on their ESG performance and positive impact. Positive impact organizations aim to strategically embed sustainability into their businesses, focusing on addressing societal challenges and generating additional revenue through innovation. This approach differs from the pure risk perspective of ESG. By embracing positive impact, companies can shift their focus to horizon two and three innovations, involving supply chain transformations, new business models, and collaborations to create sustainable competitive advantages.

Guiding Boards in Embracing Positive Impact and Innovation

The podcast provides guidance for boards in shifting their focus towards positive impact and innovation. To create space for these discussions, boards should invite relevant societal stakeholders, climate activists, and fresh voices into board meetings. This expands the board's perspectives and generates new ideas. Boards need ESG skills and competencies to ask the right strategic questions and ensure long-term business sustainability. Additionally, the Chief Sustainability Officer and Chief Strategy Officer can play vital roles in coalition building and driving these conversations at the strategic level.

The Corporate Director Podcast

Sustainability: Shifting from risk to opportunity

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Quick takeaways

Deep dives

Increasing Federal Agencies' Scrutiny on Cybersecurity Incidents

Exploring New Perspectives on Sustainability Strategy

Connecting ESG with Positive Impact

Guiding Boards in Embracing Positive Impact and Innovation

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