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ESG and the Role of Shadow Boards

Most industries have or are at least beginning to see the influence ESG can have on accelerating their business. As part of the Armstrong Craven Review Vol. 8, this article looks at the opportunities surrounding ESG and the role shadow board members can have in implementing this into businesses.

ESG and the Role of Shadow Boards

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By Armstrong Craven Team

Talent Research Specialists

Quick Summary Most industries have or are at least beginning to see the influence ESG can have on accelerating their business. As part of the Armstrong Craven Review Vol. 8, this article looks at the opportunities surrounding ESG and the role shadow board members can have in implementing this into businesses.

In recent years it's clear to see how the subject of Environmental, Social, and Governance (ESG) has gained significant traction, embedding itself into businesses spanning many industries. However, understanding the true meaning behind ESG is something businesses still need support with. One way companies can better understand ESG, including the impact it can have on their workforce, their community, and the environment is by utilising a shadow board.

ESG has both its conformers and detractors; still, it is hard to question the impact it can have on the long-term success of businesses whilst simultaneously creating a more sustainable future for our planet. Both limitations and great opportunities accompany ESG's relevance to different business aspects, and shadow boards can help companies set the foundations to unlock the potential of ESG.

The article covers the key points such as:

Shadow boards have varied iterations, but collectively they allow different people from different backgrounds to give their perspectives on matters that ultimately support the strategic thinking to future-proof global businesses.   

A spectrum of involvement comes with shadow boards, and they can be a crucial element in a business's DE&I and ESG initiatives. In addition, shadow boards can sculpt an opportunity for individuals to hone in and develop their skills whilst establishing and building upon networks. 

“Our Next Generation Council is helping global leadership ‘get it right’ for the big decisions; they will be the ones building on those big decisions.”
-  Margje Knaapen, Global Talent Attraction & Retention Lead, KPMG

Fundamentally, shadow boards should be considered a hotbed of knowledge and innovation, advising on and addressing a business's most critical decisions. 

There are many ways of bringing new perspectives into the boardroom. At Armstrong Craven, we undertake hundreds of talent intelligence projects gathering external insight to do just that, with the aim of providing data for more informed decision-making. Creating a shadow board is a significantly bigger commitment as they allow for the evolution of a symbiotic knowledge-sharing relationship between senior decision-makers and broader talent cohorts.

Complete the form above to access the Review and explore the considerations of various shadow boards and how they can transform your business and assist with ESG criteria and best practices. 

Access the Armstrong Craven Review Vol. 8

The Review is read by over 10,000 HR and Talent Acquisition leaders globally and highlights key trends in HR and Talent Acquisition. In Volume 8, we examine the impact of Artificial Intelligence on DE&I in Recruitment, ESG & the Role of Shadow Boards and the Evolution of Hybrid Working. The review also contains a bonus article on the Succession Planning - Calculated Risk, as published in theHRDirector. To receive your copy, complete the form below.

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