The path of companies towards sustainability and good corporate governance.
To discuss the role of companies in society and their impact on the environment, BH Compliance realized the first webinar of the year, entitled “Greater transparency in sustainability and corporate governance”, which included presentations by Mauricio Larraín, Commissioner of the Financial Market Commission (CMF); the Director of companies, Luis Hernán Paúl; and our Executive Director, Susana Sierra, in order to address this important issue from different perspectives.
Mauricio Larraín referred to the growing interest in sustainable investment, as well as a regulatory trend in the market based on ESG criteria (environmental, social and governance). In this regard, he highlighted the actions being taken by the CMF, such as the establishment of Rule 461, which includes new ESG information requirements in the annual report of the companies regulated by the entity, in order to establish the same standard of disclosure that allows investors to compare companies. In this regard, he highlighted the strategic role of disclosure and the materiality of the standard, as well as the structure that this integrated report must consider and its gradual implementation.
Luis Hernán Paúl, for his part, shared his experience as Director of Companies, on how some organizations are doing on their path towards sustainability, highlighting the progress of European subsidiaries in ESG matters over other companies, and how the new CMF standard will allow more backward companies to advance in a gradual and orderly manner. She also emphasized the importance of full board involvement, not only in terms of reporting, but also strategically and culturally, because companies that have managed to do this well have a much broader perspective.
Finally, the Executive Director of BH Compliance, Susana Sierra, referred to the challenges and opportunities for companies in this new reality, highlighting the G of governance as the most important dimension so that both the E and the S can be put into practice. She also emphasized the importance of responsible leadership to achieve sustainability, where all stakeholders are included, as well as working on the construction of purposes based on people’s values, which guide the company’s decisions and the creation of culture.
Published: January 11, 2022