Planet Earth International 2009

unfold over the last year,
what stakeholders want more
than anything is stability, so
it is imperative that corporate
governance takes that into
account,” he adds.
One of the greatest
challenges surrounding the
integration of ‘green’ into the
business agenda is how to
reinforce boardroom policies
on sustainability and the
environment with practical
action. For example, Waste
Electrical and Electronic
Equipment (WEEE) is Europe’s
fastest growing waste stream,
and the WEEE Directive, a piece
of legislation introduced by
the European Union, demands
dedicated green IT policies
to be implemented to deal
with the waste with minimum
impact on the environment.
Theoretically, with a lower
cost of change than for large,
risk-averse organisations,
entrepreneurs and SMEs are
better placed to implement
these and other sustainability
Companies are beginning
policies into their corporate
to see the value of
governance. They also stand
making environmentally
sound products.
to gain a speedier ﬁ nancial
return by way of the savings
that these implementations
Last October a number of the United eventually deliver.
States’ largest institutional investors called Professor Morad says, “Waste
on the Securities and Exchange Commission management, pollution control and
(SEC) to request improved corporate climate environmental planning provide signiﬁ cant
risk disclosure and address a broader range market opportunities which are assisted
of environmental, social and governance by the availability of substantial public
risks within the disclosure requirements. funds aimed at mitigating environmental
While many companies disclose environ- degradation – so called ‘cleantech’
mental, social and corporate governance opportunities – and reducing eco-liabilities
(ESG) information in their sustainability through schemes that include carbon quota
reports and on their websites, investors say trading. With the costs of hydrocarbon fuels
that is not always enough given the ﬁ nan- at a record high recently, the adoption of
cial risks ESG factors can create.
Professor Bones says, “If I am an investor
»Waste
and I want sustainable growth – not just
capital return, but a long term sustainable
management and
income – the stewards of my investment at
environmental
the helm of corporate governance will have
planning provide
to think far more about sustainability now
than they have ever done in the past.
signiﬁ cant market
“Having seen global economic events
opportunities.
80 PLANET EARTH www.yearofplanetearth.org
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