Inaugural LEAD Symposium to Address Role of Corporate Boards in Achieving Sustainability

LEAD Companies Meet to Develop Comprehensive Guidelines for Corporate Boards in Developing Sustainability Strategy and Implementation

Update (Atlanta, 29 March 2011) – Global Compact LEAD participants gathered in Atlanta today for the platform’s inaugural symposium to explore a central dimension of achieving sustainable business success: the link between corporate governance and sustainability.

Launched in January 2011 by UN Secretary-General Ban Ki-moon, Global Compact LEAD is a new platform for Global Compact participants committed to take environmental, social and governance performance to the next level and set a new benchmark for corporate sustainability performance. The inaugural class of Global Compact LEAD participants includes 55 companies from around the world.  

Specific topics addressed at the symposium, which was developed in partnership with Business for Social Responsibility, included the unique role and responsibilities that boards play in overseeing corporate sustainability; the importance of board structure and composition in integrating sustainable business practices; and how boards can better collaborate with investors and business schools to shape and roll out successful sustainability programmes.

In Atlanta, approximately 50 senior officials representing major corporations, the mainstream investment community and business education shared best and emerging practices and dialogued with investors and business educators on possible ways to advance current practices and share learnings for the benefit of all UN Global Compact participants. Representatives from UN Principles for Responsible Investment and UN Principles for Responsible Management Education provided key insights into preparing boards to meet growing investor demand for oversight and the need for board-level sustainability training.

According a recent survey of UN Global Compact participants – the final data to be released in May 2011 – boardroom adoption of sustainability generally, and the Global Compact principles in particular, is highly variable. More than half of respondents indicated no meaningful integration into boardroom policies, structures, and decision-making.

At the same time, a number of companies – many of them LEAD participants – have undertaken significant efforts to integrate sustainability into their corporate boards through the creation of specialized committees, external advisory councils, and other efforts.

“The fact that LEAD has chosen board adoption and oversight as the theme of its first Symposium represents the critical role that corporate boards play in aligning governance practices with social and environmental performance,” said Georg Kell, Executive Director of the UN Global Compact. “We expect that the experiences and challenges shared today will lead to comprehensive solutions that all companies can implement in addressing global challenges.”

The symposium concluded with the following planned outcomes:

• Global Compact LEAD will develop operational guidance and recommendations for corporate boards and directors, to be publicly released in May 2011;
• The Principles for Responsible Management Education will develop a concept for the development of a board director-level sustainability knowledge program; and
• The Principles for Responsible Investment and Global Compact LEAD will plan a number of interactions to further evolve the corporate-investor nexus with respect to sustainability.

LEAD Symposia offer a unique opportunity for member companies and invited guests to explore advanced solutions to specific components of the Blueprint for Corporate Sustainability Leadership, a comprehensive roadmap to sustainability excellence introduced by the Global Compact in 2010. The symposia seek to enable vibrant, cutting-edge discussions, leaving participants more knowledgeable, motivated and capable of innovation in the field of corporate sustainability.

• View Agenda for LEAD Symposium on Board Adoption of Sustainability.
• Download List of Global Compact LEAD companies.
• Read more about the Blueprint for Corporate Sustainability Leadership.
• For more information, visit www.unglobalcompact.org/lead.

Media Contact

Matthias Stausberg
Spokesperson, UN Global Compact
stausberg@un.org
+1-917-367-3423