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EY Center for Board Matters. We support board members in their oversight role by helping them address complex boardroom issues. Find out more.
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Using company proxy statements, our analysis included a review of how committees were named and how their oversight responsibilities were described. Our findings reflect both an evolution of committee structure and responsibilities as well as enhanced communications around how boards are executing oversight of key areas of stakeholder interest.
Key committee responsibilities expand
One approach boards are taking to strengthen oversight in key areas of strategy and risk is to broaden the purview of the three core committees — audit, compensation, and nominating and governance — to address technology and sustainability matters. These include cybersecurity, AI, climate and other environmental risks, human capital and culture (including diversity, equity and inclusion), and corporate political responsibility. For example, the percentage of companies mentioning environmental, social and governance (ESG) and sustainability in their audit committee descriptions has nearly quadrupled, from 6% in 2021 to 22% in 2024.