New York, USA – While dozens of the world’s largest companies have signed pledges urging “the world’s leaders to reach an ambitious climate deal” at the United Nations Conference on Climate Change, and vowed to reduce their businesses’ environmental impact, only a handful put CEO pay on the line.
Of the 89 publicly traded signers of three compacts as of Nov. 13 - the American Business Act on Climate Pledge, the Oil and Gas Climate Initiative and the CEO Climate Leaders pact - 13 have tied sustainability efforts to a specific portion of their CEO’s compensation, according to a Bloomberg analysis.
Make-more-by-cutting programs can be effective for boards that want to put teeth into sustainability agendas and respond to pressure from investors, governments and consumers to consider their companies’ environmental footprints, said Conrad Pramboeck, Head of Compensation Consulting at Executive Search firm Pedersen & Partners. It’s not a complicated calculus, he said. “Because money is a motivator for many top executives, they become interested in pushing this issue forward.”
Conrad Pramböck is the Head of Compensation Consulting at Pedersen & Partners. Based in Vienna, Austria, he is responsible for consulting companies on all aspects of compensation, including providing companies with up-to-date market information on salary ranges and design of bonus systems across all industries and geographies. Prior to joining the firm, Mr. Pramböck held several senior positions in international consultancy firms. He started his career with a German Consultancy firm working in management consulting and later in the Compensation Consulting business unit based in Austria. For the following seven years he worked with one of the top Austrian Executive Search firms as the Head of Compensation Consulting. He was responsible for all international compensation consulting activities and developed and maintained an international compensation database in 40 countries.
Pedersen & Partners is a leading international Executive Search firm. We operate 56 wholly owned offices in 52 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com
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