Company News Sep 14, 2021 5:02 PM
ISA announced ‘Inspiring Boards’, a strategy to drive sustainable transformation in Latin America.
The new competencies, knowledge and skills required by Boards of Directors and their importance for the sustainability of companies were the starting point on which ISA developed ‘Inspiring Boards’, Valora Analitk reported.
The focus of the conversation was the challenges companies face at present, as they adapt to new governance practices and the transcendent and urgent need to permanently incorporate Social, Environmental and Corporate Governance (ESG) issues.
“To build the Boards of Directors of the future, we must consider gender diversity and knowledge, as well as a great sensitivity to the changes that are taking place in the world in the technological and political sphere,” Santiago Montenegro, Chairman of the Board of Directors of ISA said.
Montenegro said that the post-pandemic reactivation implies a special sensitivity to the challenges of the new normal.
In addition, the company signed “Inspiring Future”, an agreement in which ISA’s Board of Directors and all the members of the participating boards reiterated their commitment to continue incorporating ESG criteria in the corporate strategy of Sustainable Value.
Felipe Bayón and the management team of Ecopetrol (NYSE: EC), ISA’s new majority shareholder, also participated in this activity, which was constituted as the joint first step to advance in the process of positive transformation of the sector through the proper management of global agenda issues.
Bottom-Line: Taking care of ISA’s corporate governance will be one of the main challenges in the transition with ECP. Starting to work together on this issue will be vital to avoid problems in the new reality of ISA and ECP.