New research conducted by the Chartered Governance Institute (CGI) has found that 51 of FTSE 100 companies have a sustainability or ESG committee at the board level. Of these companies, 75% said that those committees have helped to ensure ESG-related themes got the attention they needed. These themes are largely environmental, however, with the committees spending between 60-80% of their time on such issues. In addition, 57% of FTSE 100 boards said they saw ESG and sustainability as central to doing business, while 19% viewed it as a compliance cost, according to the CGI. Eighteen percent said their focus on ESG and sustainability was largely a result of wider stakeholder pressure. Despite ESG and sustainability having become an increasingly important priority for the majority of FTSE 100 boards, one third of those assessed admitted to a lack of understanding of such issues.
