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Transformational Governance Workshop

20 February 2024

Transformation Governance event

Increasing investor, customer, and employee expectations are pressuring companies to be more accountable, ethical, inclusive, and transparent. Implementing Transformational Governance can drive responsible business conduct, improve ESG performance, and strengthen public institutions, laws, and systems.

To guide businesses to stay at the forefront of governance, thought leadership, and action by applying a broader approach to the “G” in ESG, we hosted a workshop on Tuesday 20 February 2024 in partnership with RELX.

We explored the new UN Global Compact Transformational Governance Self-Assessment Tool, a free tool that enables companies to assess their baseline, identify areas of improvement, and gain actionable insights.

The thought leadership and knowledge contained in the tool can help companies strengthen their policies and procedures, and inspire impactful actions - both within their company and in society. The tool is confidential, based on self-reporting, and is meant to be a learning platform.

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Key takeaways:

  • SDG 16 (Peace, Justice and Strong Institutions) is the least understood by business but arguably the most consequential to business. Responsible businesses want to operate in communities where there are institutions, laws, and systems that protect their rights and the rights of the individuals they employ and serve.
  • Transformational governance (“TG”) provides a framework for businesses to address rising shareholder and stakeholder expectations by adopting an expanded vision (and ambition) for governance that aims to have an impact both internally on a company and externally on society.
  • The TG Self-Assessment Tool is a free and voluntary tool that enables companies to assess their TG baseline, identify areas of improvement, and gain actionable insights. The thought leadership and knowledge contained in the tool can help companies strengthen their policies and procedures, and inspire impactful actions - both within their company and in society.
  • Corporate action on TG includes internal measures, such as implementing a Code of Ethics, creating training and a culture of integrity, and ensuring the same standards across the supply chain. Externally, businesses can move beyond legal minimums to advance peace, justice, and strong institutions.
  • Through TG, businesses have the opportunity to positively contribute to SDG 16 by implementing targeted measures in the areas of ethical leadership, integration of ESG factors in business relationships with third parties, rule of law, and advocacy and influence including responsible lobbying.

UN Global Compact participants have exclusive access to curated content, toolkits, and workshops that help them address their business challenges.

Please get in touch here if you are interested in becoming a member.