How can you ensure your board is up-to-date on sustainability and circular economy trends?

2 Educate your board on the basics

The next step is to provide your board with the essential knowledge and insights on sustainability and circular economy. You can use various formats, such as briefings, workshops, webinars, podcasts, or newsletters, to deliver relevant and timely information. You can also invite external experts, such as academics, consultants, or practitioners, to share their perspectives and best practices. The goal is to help your board understand the drivers, benefits, risks, and challenges of these trends, as well as the implications for your business model, strategy, and performance.

3 Engage your board in the dialogue

The third step is to involve your board in the discussion and decision-making on sustainability and circular economy. You can use different methods, such as surveys, polls, interviews, or focus groups, to solicit their opinions and feedback. You can also facilitate interactive sessions, such as scenario planning, case studies, or simulations, to stimulate their creativity and critical thinking. The aim is to help your board develop a shared vision, values, and goals for these initiatives, as well as to identify the roles and responsibilities of the board and management.

4 Update your board on the progress

The fourth step is to keep your board informed and accountable on the implementation and outcomes of sustainability and circular economy. You can use various tools, such as dashboards, reports, or scorecards, to measure and communicate the impact and value of these initiatives. You can also provide your board with regular updates, such as quarterly reviews, annual reports, or stakeholder feedback, to highlight the achievements and challenges. The purpose is to help your board monitor and evaluate the performance and progress of these initiatives, as well as to recognize and reward the efforts and contributions of the team.

5 Diversify your board's composition

The fifth step is to enhance your board's diversity and inclusion to reflect and respond to sustainability and circular economy. You can use different strategies, such as recruitment, retention, or succession planning, to attract and retain board members with diverse backgrounds, experiences, and perspectives. You can also foster a culture of openness, respect, and collaboration among your board members, as well as with management and stakeholders. The intention is to help your board leverage the diversity of thought, skills, and networks to drive innovation and value creation for these initiatives.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?