A recent global survey conducted by Boston Consulting Group, Heidrick & Struggles, and INSEAD Corporate Governance Centre examines how boards are adapting to the profound transformation that has swept the business landscape in recent years, driven by the need for sustainability across the full spectrum of environmental, social, and governance (ESG) issues. At the same time, companies face disruptive business changes involving factors such as trade risks, generative AI, geopolitical uncertainties, and regulatory changes, further driving challenge and change.
Against this backdrop the survey, which had 879 respondents across 45 countries and 19 industries, highlights a significant expansion of boards' remit. This is particularly evident in the energy and finance sectors, where balancing global energy needs with climate change creates significant risks and opportunities. To cope with these changes, directors report focusing more on long-term succession planning, seeking independent advice, and forming ad hoc committees.
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