Global events such as the war in Ukraine, the sanctions on Russian crude and petroleum products combined with market volatility, rising interest rates and the threat of a global recession provide a challenging environment for business leaders to navigate. For energy and chemical companies, these challenges must also be managed against the backdrop of an energy transformation that is underway.
On the 2023 Board Agenda highlights nine key issues to keep in mind as boards consider and carry out their 2023 agenda. While all nine issues are applicable to the energy and chemicals industry, five issues are of particular importance.
- Maintain Focus on How Management is Addressing Geopolitical Risks and Uncertainty
- Monitor Management’s Projects to Build and Maintain Supply Chain Resilience
- Keep ESG, including climate risk and DEI, embedded in risk and strategy discussions and monitor U.S. and global regulatory developments
- Make Talent, Human Capital Management (HCM), and CEO Succession a Priority
- Engage Proactively with Shareholders, Activists and Other Stakeholders