With the spread of globalization, the array of business opportunities, economic growth, diverse resources, need for international investors, global financial crises, climate change crises, ecological overshoot, radical transparency, greater expectations from stakeholders, population growth, digital and net generation era, and the realities of business unusual, there has been increasing advocacy among thought leaders on how to take African corporate and public institutions to the level of sustainable operation. Discussions around corporate and sustainable governance have become trendy across the world, not leaving out Africa and it is the responsibility of all Africans to ensure that the future of the continent is sustained. In this edition are a general summary and submissions on attaining sustainable governance in Africa.
Corporate Governance (CG) has been defined in various ways. Succinctly, it is the structure and the relationships which determine corporate direction and performance. The concept covers a wide range of relationships between management, directors and other stakeholders within justified interests, and the board of directors is typically central to corporate governance. The corporate governance framework also depends on the legal, regulatory, institutional and ethical environment of the community. Whereas the 20th century might be viewed as the age of management, the early 21st century is predicted to be more focused on governance.
It is therefore significant to promote effective governance for sustainability and drive the overall crux of sustainable governance along important considerations for governments, organizations, business leaders, investors, consumers, and many other stakeholders throughout the world. There are campaigns by leaders for the move to a model of sustainable economies and corporate responsibility, where organizations pursue a more sustainable path and are better governed. Sustainable Governance (SG), therefore seeks to provide the tools for incorporating environmental, social, and governance (ESG) or sustainability factors into how organizations manage themselves from a strategic, operational, and reporting perspective.
Excerpt from CSR Files Weekly™