It is important that boards should work to prioritise and improve their organisation’s environmental impact. We delve into five strategies for boards to achieve this goal, and consider the benefits of transitioning to paperless board packs and minutes through the utilisation of effective board management software.
Boards have a moral and ethical duty to act in the best interest of all stakeholders and consider the long-term well-being of society, future generations and the planet.
As well as increasingly stringent environmental regulations and laws, consumers, investors and employees are increasingly concerned about environmental issues. Demonstrating a commitment to sustainability can enhance your organisation’s reputation while attracting customers and talent.
Many investors are integrating environmental, social and governance (ESG) principles into their decision-making process. Boards that proactively address environmental impact can attract investment for investors who prioritise sustainability.
Overall improving environmental impact as a board aligns with good governance principles, demonstrates forward-thinking leadership and positions businesses for a sustainable future.
We’ve put together 5 steps for boards looking to improve their environmental impact.
- Set clear environmental goals. Define your organisation’s environmental objectives and establish specific, measurable goals. This could include reducing carbon emissions, conserving water and energy, minimising waste or implementing more sustainable supply chain processes.Large companies have been setting impressive environmental goals. Microsoft has pledged to become carbon negative by 2030, remove historic carbon emissions by 2050 and invest $1B in a climate innovation fund. Shipping giant Maersk has announced a plan to reach net-zero greenhouse gas emissions by 2040 and Coca-Cola has committed to net-zero emissions by 2040.
- Conduct an environmental audit to assess your organisation’s current environmental performance and identify areas to be improved. As well as verify compliance with laws and regulations.
- Develop an environmental policy that reflects your organisation’s commitment to sustainability. This should outline goals, principles and strategies for minimising environmental impact. It should be clearly communicated to employees and stakeholders, and also available for others to read on your organisation’s website.
- Integrate sustainability into the board’s decision-making processes. Evaluate the environmental impact of proposed projects, investments and operational changes.
- Make sure to monitor and report progress while engaging stakeholders to drive continuous improvement.
Improving environmental progress is an ongoing process. Continue to reassess and update your strategies, adopt technologies that can aid in your goals and strive to continually improve.
How can board management software improve your board’s environmental impact?
Board management software like Stellar completely digitises board meetings. From agenda creation to distributing minutes, Stellar eliminates the need for paper, as well as the environmental costs associated with distributing board packs.
By embracing digital board management software like Stellar, organisations reduce paper consumption, minimise waste generation and foster a cultural shift towards sustainability.
Are you interested in how Stellar can help your board reduce its environmental impact? Take a look at our board management software features or get in touch with us via email: sales@stellarlibrary.com