IoD Scotland Autumn 2021

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IoD Scotland events: Global Conference Conference polls Delegate polls were held throughout Conference to gauge views on key questions of the day. Good governance: ESG (Environmental, social and corporate governance) - how much does your board make it a priority? Still wrestling with how to apply it: 59% It’s central to every Board discussion and the framework around which we build the business: 36% Very little – it’s distracting and takes up too much corporate focus and energy: 5% Accelerating to Net Zero: Are you optimistic that meaningful decisions will be made by global leaders at COP26? Yes - this the moment to be bold: 64% No - the complexities of a meaningful deal are too great to be overcome: 32% Unsure - still too early to tell: 4% Are you on target to meet Net Zero by 2050? Yes: 45% No: 14% Don’t know: 41% Shoot for the moon and change our economy Conference was delighted to welcome First Minister Nicola Sturgeon to lead the final session – though not in her usual role of keynote speaker or interviewee. Rather, the First Minister offered Conference a “little light weekend reading” as she turned interviewer and quizzed globally renowned economist and adviser to the Scottish Government, Professor Mariana Mazzucato. The author of Mission Economy: A Moonshot Guide to Changing Capitalism, Professor Mazzucato outlined her vision for a new economic model that would not only help us make the transition to Net Zero, but would do so with societal equality and fairness built in; as she put it, “Not so much ‘Build Back Better’ but ‘Build Forward Much Better’. ” We need to design a new economic system to achieve this, she told the First Minister, and used as her template the way NASA rebuilt its entire structure from the ground-up in order to reach the moon. She urged conference to remember that, to beat climate change, collaboration is key. She suggested that the Scottish Government’s Business Pledge – a values-led partnership based on boosting productivity and competitiveness through fairness, equality and sustainable employment – should be linked to future state assistance. The Scottish National Investment Bank could also be used to encourage businesses to boost sustainability, following the lead of a similar institution in Germany which had helped rebuild the country’s steel industry into a more sustainable business. “Until we look into the darkness that’s caused this crisis we won’t be able to lead our way out of it.” Professor Mariana Mazzucato Do you have the tools and support you need to meet Net Zero targets? No: 52% Yes: 35% Don’t know: 13% Is sustainability an action-focused priority discussion on the agenda at your Board meetings? Yes: 33% No: 62% Don’t know: 5% Will there be permanent changes in work practices post-Covid? Yes 91% No 6% Don’t know 3% As you look to implement green strategies into your organisation, do you think, long-term, they will: Cost money and hit profits but that’s the point: 60% Be costly in short-term but deliver profit over time and perhaps allow for further action and innovation?: 27% Don’t know: 13% First Minister Nicola Sturgeon Professor Mariana Mazzucato Conference conclusion... from 2050 Climate Group “I’ve been impressed and inspired by the commitment on display; now what’s needed is for business leaders to double down on their pledges and vows to act ... “it’s time to start thinking outside the bottle” on how we respond to the climate change emergency. Kate Chambers of the 2050 Climate Group. 36 iod.com The full conference can be viewed at: https://www.iod.com/events-community/regions/scotland/annual-conference Autumn 2021
With thanks to our sponsor partners Wood Wood is a global leader in consulting and engineering solutions across energy and the built environment, helping to unlock solutions to some of the world’s most critical challenges. Wood provides consulting, projects and operations solutions in more than 60 countries, employing over 40,000 people worldwide. Connected by our shared values of care, commitments and courage, we recognise achieving a sustainable future is one of the biggest challenges facing our generation. That’s why we are committed to engineering the solutions needed for a Net Zero future, and ensure we help create a more resilient, sustainable and liveable world. www.woodplc.com Skills Development Scotland Skills Development Scotland (SDS) is the country’s national skills body. We contribute to sustainable economic growth by supporting people and businesses to develop and apply their skills, working with our partners to provide services that deliver the very best outcomes for Scotland’s people, businesses and the economy. We are passionate about skills development and its contribution to a modern, innovative and prosperous Scottish economy. We provide careers information, advice and guidance, and work-based training programmes for individuals aimed at building the career management skills that will enable them to thrive in a changing economy. We are also committed to building a Scotland which champions fair work practices and a diverse workforce. Working with partners, we strive to ensure employers have the right skills at the right time in high performing, fair and equal workplaces, and that every individual has the skills and confidence to get a job and progress in the workplace, achieving their full potential. Our support for employers includes tailored skills advice and funding for workforce development. Along with our partners we are forging strong relationships between enterprise and education and training providers. This includes championing the wide range of pathways into work, ensuring each route is recognised and valued, while supporting inclusion and diversity in fair and productive workplaces. www.skillsdevelopmentscotland.co.uk Strathclyde Business School The Centre for Board & Director Development (CBDD) sits within Strathclyde Executive Education and Development (SEED), which has significant expertise in working with senior leaders, directors and managers in the private, public and third sectors – designing and delivering applied, experiential, tailored programmes for an extensive client base. CBDD provides a natural home for our existing activities for Directors, Trustees and Applied Research: • Open board and director development programmes, along with tailored corporate programmes • Knowledge exchange, thought leadership events and publications • A specialise family business track • Short courses that allow participants to flexibly undertake development programme leading to a recognised qualification • Short development programmes for NXDs, aspiring directors, trustees and specialist groups CBDD and SEED are part of Strathclyde Business School (SBS), a pioneering, international renowned academic organisation with a reputation for research excellence. SBS is a triple accredited business school (AMBA, EQUIS and AACSB), the first business school in Scotland to achieve this accolade. SBS holds the Small Business Charter Award which recognises the its world-leading support for scaling Scottish firms through innovation, internationalisation and leadership, as well as the business school’s expertise in student entrepreneurship and engagement in the local economy. www.strath.ac.uk/business/seed Royal Scottish Geographical Society Urgent and meaningful action needs to be taken to avoid a climate disaster but action to respond to climate change can only be taken when there is a thorough understanding of the issues. It is essential that every manager has a minimum basic knowledge. For this reason, RSGS has collaborated with the Universities of Edinburgh and Stirling, and the Institute of Directors to create this training. The three courses which upskill quickly and flexibly are: • Professional, aimed at senior managers, directors and CEOs – 20 hours • Accelerator suitable for all staff - 90 minutes • MOOC designed for undergraduate students - five hours www.climatesolutionsnetwork.com YuLife YuLife is a tech-driven insurance company on a mission to inspire life and turn financial products into a force for good. By harnessing the power of technology, lifestyle medicine and the latest behavioural science, YuLife is building a new insurance model focused on risk prevention. YuLife transforms the employee benefits market by rewarding employees for healthy living and fostering healthier, happier and more motivated teams. YuLife has grown 10x in the past year as the Covid-19 crisis has driven employee wellbeing and insurance to the top of the corporate agenda. They now insure over 400k lives at companies across the UK and 70 per cent of employees agree that they live a healthier lifestyle because of You Life. www.yulife.com Autumn 2021 iod.com 37
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IoD Scotland Autumn 2021

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