Breakfast Seminar: Does Corporate Responsibility Necessitate a Restructuring of Incentive-Compensation Systems?
Castrén & Snellman, Centre for Corporate Responsibility (CCR), Opinio Juris, and Hanken Centre for Corporate Governance (HCCG) would like to invite you to a breakfast seminar on sustainability and ESG (Environmental, Social and Governance) performance results tied to incentive compensation systems on June 6th, 8.30-11.30 at Minerva-tori (Siltavuorenpenger 5 A, Helsinki)
Background: The recent launch of the UN Sustainable Development Goals (SDGs) has again triggered questions if and how executive pay could be tied to SDGs and ESG performance. Initiatives such as Global Compact and PRI (Principles for Responsible Investment) maintain that linking ESG performance will facilitate accountability and alignment of interest for the delivery of the sustainable business goals visible in an increasing number of corporate strategies. At the same time research shows that existing compensation systems often do not tie SDG metrics to incentive systems in meaningful ways.
For this seminar we want to bring together Finnish board professionals, executives and senior managers from different corporate functions to discuss and develop new ideas together with leading international researchers on governance and CSR.
The seminar will address the following questions:
• How should Finnish firms align issues identified in CSR reports/strategies with those integrated into incentive compensations?
• How should firms address eventual conflicts between ESG targets and hard financial incentives?
• What kind of SDG metrics are in line with “informativeness principle”, where the measure of performance by the agent is readily available and reliable?
• What does the newest insight from research and practice tell us on the matter and how can it inform your corporate practice?
Present to discuss the latest developments in Finnish corporate praxis will be Pekka Hukkanen, Director- Compensations & Benefits at Outotec Oyj, and the latest insights from research will be discussed by Professor Tom Berglund, Director of Hanken Centre for Corporate Governance (HCCG) and Dr. Nikodemus Solitander, Director of Centre for Corporate Responsibility (CCR).
Below you will find the presentation slides of Nikodemus Solitander and Tom Berglund:
The seminar will be arranged as a facilitated workshop, it is an excellent opportunity to share your views and experiences on incentive-compensation systems and sustainability goals/strategies, and an opportunity to get on top of where these issues will be headed in the future and the concrete implications for your organizations. The language of the workshop is English.
In case you want to know more about the workshop, please contact Nikodemus Solitander at firstname.lastname@example.org