TEXT: -Climate action agenda is now in board meetings (most organisations); focus on impact of climate and natural capital risks on the organization and vice a versa.
Effective governance manages risks, ensures legal compliance and protects stakeholders interests.
Ethical leadership contributes to sustainable practices - e.g., reducing carbon emissions and promoting social responsibility including the supply chain.
Vital to leverage technology to become more ethical and sustainable.
Recommendations:
Promotion of participatory governance through community participation, public consultations, and citizen engagement initiatives.
Businesses that build stakeholders' trust experience increased customer loyalty, employee satisfaction, and investor confidence.
Leaders should integrate sustainability into the company's strategy and decision-making processes, instead of treating it as a peripheral issue.
Transparency and accountability in decision-making is vital for inclusive growth.
Copyright Business Recorder, 2023
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