COVID-19 and a renewed spotlight on persistent racism are putting last year’s high-profile corporate pledges to benefit society to the test. How can companies balance cost-cutting initiatives with their commitment to serve employees, customers, suppliers, shareholders and the greater good?
As an advisor to the board, it’s imperative for general counsel (GC) to help members consider ESG implications and to keep sustainability in front of decision-makers facing tough choices.
GC should ask the board these four questions to frame their thinking:
How can we protect employees, customers and suppliers?
How can we tie shifts in corporate strategy during this time to our sustainability efforts?
How can we address and respond to the urgent needs of our community?
How can we ensure that crisis management decisions don’t hinder long-term goals?