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ICT Governance and ESG Factors: A New Agenda for the Boards of Directors

In: Industry 4.0

Author

Listed:
  • Alexander S. Yukhno

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

During digital transformation of the economy, a lack of information and communication technology (ICT) governance and adherence to environmental, social and governance (ESG) principles exposes a company to significant risks. Based on the research in the article, the guidance for ICT and ESG governance by the board of directors (BoD) of an organization was provided. The first part of the outlines the need for an active participation of the BoD in the ICT governance and importance of its integration with ESG principles. The second part highlights the requirement for a company to identify the necessary level of expertise in ICT and its impact on corporate development. The third part discusses the structure and the main areas of ICT governance as well as the tasks that the BoD solves in this context. The fourth part discusses the role of the BoD in ESG risk identification. The fifth part is devoted to a changing agenda of board meetings in the time of digitalization and ESG challenges. The sixth part is dedicated to the growing role of ICT and ESG committees of the BoD. The results are summarized in the conclusion.

Suggested Citation

  • Alexander S. Yukhno, 2022. "ICT Governance and ESG Factors: A New Agenda for the Boards of Directors," Springer Books, in: Elena B. Zavyalova & Elena G. Popkova (ed.), Industry 4.0, pages 39-50, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-79496-5_4
    DOI: 10.1007/978-3-030-79496-5_4
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    More about this item

    Keywords

    Digital economy; Corporate governance; Information and communication technology governance; ESG factors; Environment; Board of directors; Agenda for board meetings;
    All these keywords.

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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