Last week I was featured in the ”CSRD insights” newsletter. Read the interview below:
CSRD entails increased responsibility for corporate boards, and will impact business in different ways. We asked the board professional Charlotte Gustavsson how boards should best approach and manage the new EU requirements.
”The increased responsibility on the boards means that the board of directors must familiarize themselves with the standard enough to validate, ask relevant questions, and feel confident with the material that the business team has developed. By understanding the driving forces, data, and what the outcome in the sustainability report means for the company, it becomes easier to work strategically with the issues.”
This is according to Charlotte Gustavsson who has been the CEO at The Swedish Academy of Board Directors in Stockholm, Sweden for five years. Charlotte also has a background as CEO within the MTG Group and as CEO of both MoDO Hockey and Karlskrona Hockey Club. In 2023, she founded Global Heart Leaders.
What does CSRD mean for corporate boards?
”The important thing is that all members understand the company’s sustainability strategy and the risks and opportunities involved in the issues. All members of the board are collectively responsible for the work; it is not possible to absolve oneself from responsibility just because one is not part of the committee handling the reporting.”
What is your advice to board professionals?
”That all board members acquire knowledge, understand the standard and the new requirements. Increased responsibility for, for example, climate impact will not decrease but should be a prioritized issue for virtually all companies.
Companies that clearly demonstrate responsibility will strengthen their brands, both outwardly towards customers, but also as an attractive employer. Who doesn’t want the sharpest minds? Who doesn’t want the most climate-smart products and services – and have a nice profitability? So, it’s just a matter of rolling up your sleeves.”
