Enhancing Board Climate Fluency
One of Fortune’s Most Admired Companies asked Gib and his Hedstrom Associates team to research global best practices at enhancing board climate fluency.
After a detailed literature review, Gib reached out to his extensive network of sustainability leaders to identify which companies and practices were truly world class. Gib tapped into:
- CSOs with deep experience reporting to boards of large global companies at the leading edge of sustainability over the past decade.
- Governance experts (including Alexandra Lajoux - Chief Knowledge Officer Emeritus at the National Association of Corporate Directors).
- Individual board sustainability advisors - those rare individuals who have extensive experience advising board members. Of particular note was Sarah Keyes, who introduced Gib to several remarkable board chairs and board directors in Canada.
- ICD Canada board training - it turns out Canada was (and is) very far ahead of the U.S. in board climate training. Gib was able to sit in on the Institute of Corporate Directors’ Board Oversight of Climate Change course. The course consisted of three separate four-hour sessions with extensive work in between - and was available only to sitting board members.
Gib then interviewed 15-20 amazing leaders, including board chairs and lead directors, board members, CEOs, and a few of the leading CSOs.
The result of this research can be found in Navigating Sustainable Growth: A Roadmap for Boards and Corporate Leaders (especially Chapters 4 and 10) - and in the article, “Climate and Sustainability for Boards” published by Directors & Boards in January 2025.
Transforming Board Oversight of Sustainability
A large multinational company (and a Fortune’s Most Admired Company) had strong board oversight of sustainability - but the company’s strong governance was a well-kept secret. The publicly available information, including board committee charters, seemed very pedestrian.
The CSO, SVP and General Counsel charged Gib with researching world class board sustainability oversight.
The CEO implemented each of our recommendations, including clarifying the role each board committee has regarding climate and sustainability and updating board charters.
Sustainable Growth Navigator
Over 20 years ago, while reporting to several Fortune 100 boards, Gib Hedstrom was asked if he could develop a scorecard to help board members navigate the complexities of sustainability. Those board meetings sparked the development of what today is called the Sustainable Growth Navigator. (Until recently, it was branded as ESG Navigator.)
The Sustainable Growth Navigator has been built, shaped, used, and vetted “by industry - for industry” since its official pilot in 2015 and launch in 2018. Data from ~150 major global companies is completely confidential and provides a benchmarking and strategic planning platform that is unrivaled.
Learn more at https://esgnavigator.com/.
Sustainability Management System
Working for the president launching a new venture within a Fortune 100 company, we built a robust twenty-first century management system, fully weaving climate and sustainability issues into streamlined business processes (rather than bolting them on).
Climate-Readiness Risk Management System
A Fortune 500 company asked Hedstrom Associates to evaluate potential risk areas throughout its worldwide operations and value chain - and to help design a system that would provide ongoing assurance. Our staff helped the client strengthen its internal enterprise risk management process to address those risks.
Corporate Responsibility Governance System
Working with the Board committee with oversight of EHS and sustainability, the CEO, company Presidents, CFO, and General Counsel, we reviewed the sustainability governance system of a Fortune 500 company. The goal was to identify the critical few KPIs that would drive top quartile performance. The review included:
- Board Committee Restructuring. We redesigned the committee structure; how the time was spent during board committee meetings; the nature and depth of the pre-reading board packet; and the individuals presenting at future board meetings.
- Goals and Metrics. We established new long-term, medium-term, and short-term goals and metrics.
- Assurance Letter Process. We established a new Assurance Letter Process – an annual signed attestation by each company president to the CEO, indicating the current sustainability state of his/her business, including a list of major current and emerging risks and actions to address each.
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