Directors' Q&A: Boards And ESG

Boards in Canada are increasingly being called on to address the diverse range of issues that fall under the ESG umbrella. In this Q&A, co-head of our Capital Markets Practice, Rima Ramchandani, discusses key issues relating to board oversight of ESG with two preeminent Canadian directors, Colleen Johnston and Lorraine Mitchelmore.

Rima: ESG is often equated with the emergence of "stakeholder capitalism"—a focus more broadly on the interests of all stakeholders of a company, and not just shareholders. From a Canadian perspective, where directors have a duty to act in the best interests of the corporation, not limited to shareholders, do you think this is a new concept? Do you think the increasing focus on ESG has broadened the scope of your duties as a director?