Genius Methods - Are Boards ready and equipped for the 4IR & ESG Governance?

Are executive boards ready for the 4th industrial revolution and ESG, do they know the risks and opportunities, alongside legislation that is coming their way? What is the resistance to change for many boards? What impacts will 4IR have on the workforce? Are they acting on ESG governance?

Executive boards are in the process of understanding the risks and opportunities posed by the 4th industrial revolution and ESG, but there is still a lack of knowledge and understanding of the potential impacts. The resistance to change for many boards is often related to the complexity of the new technologies and the need to invest in them. Boards are slowly beginning to act on ESG governance, with the growing recognition of ESG as a key factor in the overall health of a company. The impacts of 4IR on the workforce are likely to be felt across a broad range of sectors, with new roles being created and existing jobs being disrupted.

The workforce will need to be trained and upskilled to take on the new roles and be more productive. The legislative framework around the 4th industrial revolution and ESG is also evolving, and boards need to remain abreast of these changes to remain compliant.

Rhona Morrell is the founder and CEO of iReGen an honest, effective, and intuitive consulting business, that puts your brand at the heart and creates effective ROI through IMPACT/ESG & CHANGE MANAGEMENT. She also founded iReGen Marketplace, an e-commerce regenerative agribusiness, and Reclaim Earth CIC to drive impact and paying it forward initiatives, a community interest company to support SDG initiatives.