Practical Considerations for a Board’s Oversight of Its Company’s ESG Program
Blank Rome's Yelena M. Barychev, corporate partner and co-lead of the firm’s ESG Team, and Stacie L. Roberts, assistant vice president, corporate governance, at Chesapeake Utilities Corporation, authored the article on “Practical Considerations for a Board’s Oversight of Its Company’s ESG Program” in the March 29, 2021, edition of Agenda, a weekly boardroom resource with dedicated journalists that deliver independent, original analysis on the U.S. corporate board space.
One of the most important functions of a board of directors is risk oversight of a company, including material risks and opportunities related to a company’s environmental, social and governance (ESG) program. The ESG factors that are important to one company’s stakeholders, including its stockholders, employees, regulators, suppliers, customers and the communities it serves, will differ from those that are important to other companies. A company’s material ESG risks and opportunities should be interwoven with areas that are key to the success of the company such as its long-term strategic plan, its business operational plans, and top areas identified through the company’s enterprise risk program.
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