08 Apr ESG – LET’S TALK ABOUT RISKS?; CORPORATE LEADERS SPEAK UP.
Welcome to this week’s business and media intelligence update.
ESG – LET’S TALK ABOUT RISKS?
Some days, it seems as if everyone in corporate Australia is talking ESG – or environmental, social and governance issues.
But do business leaders really understand the risks involved?
Maybe not, according to the people who should know: in-house lawyers.
A recent survey conducted by EY Law and Harvard Law School of 1,000 corporate lawyers and chief legal officers from 20 countries found that while the majority of businesses were concerned with maintaining their reputation and brand, they predominately focused on compliance and litigation risks.
Of the 35 Australian lawyers surveyed, only nine per cent believed their executives understood the corporate risks around environmental issues, and only 29 per cent of executives recognised the risks around social issues such as diversity, wellbeing, and employee safety.
CORPORATE LEADERS SPEAK UP
Of course, more and more corporate leaders are speaking out on potentially controversial issues, either as a matter of principle or in response to growing pressure from stakeholders, including investors.
In fact, a new survey by Deloitte found that nearly half of the CEOs polled made a public statement on a social, environmental or public policy matter on behalf of their company over the previous 12 months.
But like many other corporate practices, there are benefits and risks to speaking up.
Taking a public stance can be a winner with some stakeholders – and a definite turn-off for others.
It may explain why corporate leaders are treading carefully when it comes to issues with the potential to blow up in the public space.
FORGET ME NOT
Now you are back in the office (some days), are you struggling to remember the names of colleagues you haven’t seen in a while? Or everyday acts that were once second nature? You’re not alone.
The cumulative stress of the past two years – from living through a pandemic to current war in Europe and wild weather in between – is cluttering our brains and taking its toll on our memory, according to neuroscientists quoted in this Wall Street Journal story.
The everyday “sameness” of our lives during the pandemic has blended experiences, making it difficult to create distinct memories.
To help, experts suggest keeping the brain calm through daily meditation, slow breathing, or yoga, paying attention to one task at a time – and being fully present when someone is talking to you.
CHALLENGING THE NORM
Making the most noise isn’t necessarily the best way to garner attention.
So how do you differentiate your business in a boisterous market?
Kevin Ramsdale, the Chief Marketing Officer at Judo Bank, a Cannings client, believes it’s all about knowing when to act, and more importantly, when not to.
He spoke with CMO Magazine about building a challenger brand and the vision behind Judo’s latest national marketing campaign.
Find out more here.
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