BP Oil Spill to Cause Companies to Reframe Corporate Sustainability

In the wake of the BP oil spill in the Gulf of Mexico, companies are more likely to take corporate sustainability more seriously, and stakeholders are more likely to push for transparency. According to CFO Magazine, while sustainability is a term often bandied about, few enterprises have given it more than lip service. That may change, thanks to accounting and Securities and Exchange Commission rules that recognize environmental contingent liabilities, along with the resulting impact to the balance sheet. Companies like Hewlett-Packard and Wal-Mart are leaders in recognizing the relationship between sustainability and risk management, while Dow Chemical keeps board members informed about sustainability risks.