• Insights

ESG in Australia: a guide for directors

Australia
27.07.22
1
Written by
Corrs Chambers Westgarth, Australia's leading independent law firm.
How can directors ensure ESG is integrated into decision-making at board level?

Environmental, social and governance (ESG) issues are critical for all boardroom leaders today who are focused on long-term value creation. The effective management of ESG risks and opportunities is no longer just about ‘doing good’; it is a key business imperative.

Over the past five years, we have witnessed a significant expansion of ESG voluntary and mandatory regulation and enforcement activity at the international and domestic level, particularly with respect to ESG reporting and disclosure. Stakeholder expectations with respect to how organisations respond to ESG-related risks and their contribution to ESG impacts have likewise sharpened.

Boards who do not embrace this new reality risk exposing their companies, and in some cases themselves, to significant reputational and financial risk and adverse regulatory action. Conversely, boards that proactively seek to integrate effective ESG management into their decision-making will better position their companies to compete for capital and to realise the associated benefits of enhanced brand reputation, increased shareholder satisfaction and attraction and retention of top talent.

To access a copy of ESG: A guide for Directors, click here.

Authors
Phoebe Wynn-Pope
Head of Responsible Business and ESG - Australia
Corrs Chambers Westgarth
Abigail Gill
Partner - Australia
Corrs Chambers Westgarth