Sustainability and Compliance Trends
Five trends shaping the future
Sustainability and Compliance trends are constantly moving forward. The focus is increasingly on finding new and innovative ways to address sustainability challenges. Compliance issues continue to arise, and stakeholders are becoming more vocal in their demands and requirements.
Since 2009, the Global Center has launched 37 Centers of Corporate Governance in Asia, Europe, Africa, and the Americas. The activities and programs of the Global Center include:
Thought leadership and resources
Member ﬁrm research and thought leadership from the Global Center focuses on issues of relevance to executives and nonexecutives serving on boards of directors and other leaders in the global governance arena. Recent releases include: Directors’ Alert: Lead or be led - Time to take advantage of the new business reality; Women in the Boardroom: A Global Perspective; Director 360 (a global governance benchmarking initiative). Planned research will cover topics as diverse as incentives and rewards, risk and strategic oversight by the board, and the different approaches to board leadership taken by a variety of countries.
Many Deloitte member ﬁrms provide a range of services to help clients with their governance concerns. These services often use information made available through the Global Center, and may include education to boards of directors, assessment and benchmarking of board practices, assessment and implementation of systems of risk and control, and implementation of ethics and compliance programs.
A series of roundtables in a number of countries around the world brings together board leaders, executives, investors, and academics to seek consensus on how governance practices and approaches should change, given the current environment and particularities of each region. Roundtables have tackled topics as diverse as board risk oversight, the board's role in setting strategic direction, borad composition, executive remuneration, and the effectivess of local corporate governance codes.
The Global Center focuses on building strong relationships with governance leaders and third-party organizations. These relationships help Deloitte member ﬁrms stay current on research needs in the marketplace and provide opportunities for others to contribute points of view that can advance the debate about governance generally. For example, Deloitte LLP in the United States is a supporter of the Millstein Center For Global Markets and Corporate Ownership at Columbia University. Other examples include Deloitte Mexico, which supports the Center of Excellence in Corporate Governance (CEGC) and Deloitte Brazil supports the Brazilian Institute of Corporate Governance (IBGC).
A Deloitte publication from the Nordic region focuses on 5 trends that are applicable to our environment in New Zealand:
- Measuring the socio-economic impacts of business;
- Creating value through responsible procurement;
- Partnerships with Humanitarian Civil Society organisations;
- Corruption; and
- Human rights challenges and risks regarding their supply chain.
The report provides concrete steps to understanding and addressing these trends within a business; along with thought-provoking analogous discussion of CSR issues in Finland and Iceland post the GFC.