As well as policy drivers, a number of stakeholders are putting pressure on businesses to act on climate change and reduce emissions. These stakeholders play a critical role in the success of any business, they include employees, B2B customers, consumers, investors and civil society groups. Recognising these existing or potential external pressures is fundamental in board discussions on climate change.
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These groups are taking an increasingly active position on climate commitments and plans in business, or on Environmental Social and Governance (ESG) metrics.
How can board directors better oversee their companies’ climate transition strategies? Our series of short videos, in collaboration with HSBC, is designed for NEDs of banks and reinsurance companies.
In his first open to letter to CEOs, Larry Fink, CEO of BlackRock, explains the impacts of climate change on business, highlights the fundamental reshaping required by finance and how investors intend to encourage the transition to net zero.
Explore the investor and banking regulatory perspective on climate change. Read the highlights or watch the recording of our event with Aviva and London Stock Exchange.
To learn more about the steps investors require companies to take to deliver Paris-aligned accounts, read the Institutional Investors Group on Climate Change’s Investor Expectations for Paris-aligned Accounts. The Net zero investment framework: implementation guide also provides a common set of recommended actions, metrics and methodologies through which investors can maximise their contribution to achieving global net zero emissions by 2050 or sooner.
What is the EU green taxonomy and how will it drive targets for net zero by 2050?
EU green taxonomy drives the net zero transition through standardising how companies communicate environmental activities for their investors.
Customers across the value chain are driving ambition and expectations. As larger companies are expected to disclose financial climate risks or report to shareholders on ESG performance they are pushing businesses in their supply chain to reduce emissions. Similarly, consumers are increasingly demanding reassurance that the products they buy are addressing environmental concerns, or at least not adding to them unnecessarily, and voting with their money.
International consumer research by the Carbon Trust shows continuing levels of support for carbon labelling on products, with two-thirds of consumers saying they think it is a good idea.
In this Deloitte research, trends suggest that concerned consumers are adopting a raft of different measures to shop and live more sustainably.
Read this Global Commons Alliance research for insights into public opinion on the importance of nature.