In a move to harness the unique potential of family businesses to drive sustainability, The Sustainability Board today announced the launch of the Institute for Sustainable Family Business (ISFB). The institute's mission is to equip family business owners, executives, and boards with the tools, knowledge, and networks to lead the charge in sustainable business and governance.
“Family business owners and leaders have a unique opportunity to drive impact beyond philanthropy by using their businesses as a vehicle to create a legacy of sustainability and impact”, said Michael Reed, Director of the ISFB and Senior Advisor.
A new report highlights large family businesses' sustainability preparedness
The institute's launch is accompanied by a new report, "Sustainability Board Preparedness in Large Family Businesses", which reveals:
The world's largest public family businesses have made significant strides in aligning their boards for sustainability oversight
While directors were engaged early in sustainability efforts, their engagement levels have plateaued, suggesting a need for renewed focus and innovation.
Notably, individual board leadership in sustainability is significantly more gender-equal in family businesses compared to non-family businesses.
Complementary micro-credential course
To further support leaders working with family businesses, the ISFB is offering a complementary micro-credential course: "Introduction to Sustainable Family Business." Successful completion of the course earns participants a certified online badge.
Interested leaders are encouraged to download the full report and learn more about the micro-credential course here.
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