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Apr 07, 2023

Governance Matters podcast: Getting your board ready for the future

Boards increasingly face pressure to become more proactive and strategic about not only their company but also their own composition, structure and role. This episode shares commentary in this area and reports from the ESG Integration Forum – Europe

‘Some say you can use artificial intelligence. [But] I think we would like to have some people. We want those people around the boardroom table to be the heart, the mind, the conscience of the business,’ says Helle Bank Jorgensen, CEO and founder of Competent Boards.

In this episode of the Governance Matters podcast, editor-in-chief James Beech sits down with Jorgensen to talk about preparing boards for the challenges that lie ahead.

‘When we talk about future-proofing a board, I’m thinking about how to ensure the board of directors is fit for the future,’ Bank Jorgensen says. ‘We need a transition plan for the board of directors. What should that future boardroom look like? Who will be around that future board [table]? What will they talk about? How will it feel to get into that future boardroom? Will we have a future boardroom at all?’

Among other things, boards need diversity in demographics, insight and age – which can be helped by tenure limits – Bank Jorgensen says. But she emphasizes that they also need members who question and understand the purpose of the business.

ESG FORUM
This episode also features insight from experts at the recent ESG Integration Forum – Europe, hosted by Corporate Secretary and IR Magazine in London. Topics under discussion at the event included greenwashing and green-hushing, adding ESG metrics to executive compensation, the anti-ESG movement, the need for boards to focus on materiality and the increasing prominence of biodiversity.

Another issue covered at the event was regulation and ESG frameworks, including the International Sustainability Standards Board’s highly anticipated reporting standards. Attendees including Mark Babington, executive director for regulatory standards at the UK’s Financial Reporting Council, speak to Corporate Secretary about how those standards will impact companies and investors.

The Governance Matters podcast provides listeners with insight into cutting-edge issues of the day for corporate secretaries, general counsel and other governance professionals.

The series looks at how the roles of the corporate secretary and the board have evolved over time, as well as how the governance landscape continues to change. From ESG to entity management, shareholder engagement to technology, hear from award-winning governance professionals and leading advisers about the latest public company governance matters.

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