Our Institute has stepped up its thought leadership output in recent years at both the international and local level. This is particularly visible in the number and quality of the research reports we have published recently. This edition of our journal reviews one such report – Roles of Governance Professionals in Today’s Post- Pandemic and Dynamically Changing Risk Environment (the Report), jointly published by the Institute, the Corporate Secretaries International Association Ltd (CSIA) and Ernst & Young Advisory Services Ltd in May this year.
Since the global financial crisis of 2008, risk management has been climbing the governance agenda and boards are much more aware of the need to keep pace with the broad scope of risks their organisations are facing. The Report points out that this presents both a challenge and a major opportunity for members of our profession. Advising on risk in today’s operating environment is no easy task. It requires governance professionals to go beyond their traditional focus on regulatory risks to ensure that the board is not blindsided by the many other areas of risk management – including the fast-moving areas of ESG and technology-related risks.
In this context, the survey on which the Report was based is a timely reminder of the need for practitioners to stay ahead of this trend. The survey of 1,752 CSIA members, carried out in December 2021, found that ESG and technology- related risks still receive significantly less attention from governance professionals. This is partly a reflection of the degree to which other specialists are involved in providing the board with advice on these critical areas, but as the primary strategic advisers to the board on all governance matters, practitioners cannot afford to neglect these issues. Moreover, there will be significant benefits for both individual practitioners and the profession as a whole if we succeed in rising to this challenge.
If you haven’t done so already, I highly recommend you download the report from the thought leadership section of our website. I would also like to congratulate and thank our research and advocacy team here in Hong Kong, as well as CSIA and Ernst & Young, for their hard work in putting the report together.
You will also find our latest research report, Climate Change Reporting: Imminent, Challenging & Mandatory – The Opening Moves, produced in partnership with KPMG China and CLP Holdings Limited (CLP), and published last month. As readers of this journal will know, we are poised for a very significant tightening of ESG reporting requirements both globally and here in Hong Kong – in particular relating to climate change. This latest report gives practical guidance to help organisations raise their game in this area.
To conclude, I would like to add that our flagship CPD event is just around the corner. Under the theme, Repurposing in Changing Times – the Company, Governance and the Governance Professional, our 13th biennial Corporate Governance Conference will address key issues at the top of the governance agenda, including climate change governance and reporting, and managing technology-related and diversity and inclusion issues. The forum will be held on 23 September 2022 in hybrid mode – with participants joining online but speakers and panel members attending in person. Please add the date to your calendars and I look forward to joining you next month at the forum.
Since the global financial crisis of 2008, risk management has been climbing the governance agenda and boards are much more aware of the need to keep pace with the broad scope of risks their organisations are facing. The Report points out that this presents both a challenge and a major opportunity for members of our profession. Advising on risk in today’s operating environment is no easy task. It requires governance professionals to go beyond their traditional focus on regulatory risks to ensure that the board is not blindsided by the many other areas of risk management – including the fast-moving areas of ESG and technology-related risks.
In this context, the survey on which the Report was based is a timely reminder of the need for practitioners to stay ahead of this trend. The survey of 1,752 CSIA members, carried out in December 2021, found that ESG and technology- related risks still receive significantly less attention from governance professionals. This is partly a reflection of the degree to which other specialists are involved in providing the board with advice on these critical areas, but as the primary strategic advisers to the board on all governance matters, practitioners cannot afford to neglect these issues. Moreover, there will be significant benefits for both individual practitioners and the profession as a whole if we succeed in rising to this challenge.
If you haven’t done so already, I highly recommend you download the report from the thought leadership section of our website. I would also like to congratulate and thank our research and advocacy team here in Hong Kong, as well as CSIA and Ernst & Young, for their hard work in putting the report together.
You will also find our latest research report, Climate Change Reporting: Imminent, Challenging & Mandatory – The Opening Moves, produced in partnership with KPMG China and CLP Holdings Limited (CLP), and published last month. As readers of this journal will know, we are poised for a very significant tightening of ESG reporting requirements both globally and here in Hong Kong – in particular relating to climate change. This latest report gives practical guidance to help organisations raise their game in this area.
To conclude, I would like to add that our flagship CPD event is just around the corner. Under the theme, Repurposing in Changing Times – the Company, Governance and the Governance Professional, our 13th biennial Corporate Governance Conference will address key issues at the top of the governance agenda, including climate change governance and reporting, and managing technology-related and diversity and inclusion issues. The forum will be held on 23 September 2022 in hybrid mode – with participants joining online but speakers and panel members attending in person. Please add the date to your calendars and I look forward to joining you next month at the forum.
