COP26: Climate Governance Initiative rallies board directors
As the global UN COP26 climate talks commence in Glasgow, the international Climate Governance Initiative (CGI) has called on board directors across the world to place the climate transition at the heart of corporate strategy and board decision-making.
In a statement released today, the CGI points to warnings from Mark Carney and others that the climate crisis poses the ‘single greatest threat to global financial stability’ and urges board directors to rapidly skill up in order to confront the climate emergency.
Net zero at the heart of business strategy
The statement appeared in the print version of the Financial Times across the world today. Read the full statement and see the full list of Chapters and companies supporting it.
Read the full statementIt’s encouraging to see the surge in net zero commitments from businesses in recent months. But we are facing an unprecedented global crisis to which no individual, and no business will be immune, and these ambitions now need to be turned into action. Non-executive board directors have a vital role to play in making sure this happens.
Julie Baddeley, Chair of the Board, Chapter Zero, the UK Chapter of the Climate Governance Initiative
The industrial shift to a net-zero economy is accelerating as we address the risks that climate change presents to us all. As board directors we have an essential role to play in tackling the climate emergency and supporting executive teams through the transition that their businesses have to make.
Don Robert, Chair of the London Stock Exchange Group and Supporting Chair of Chapter Zero
Set up in association with the World Economic Forum in 2019, the CGI represents over 100,000 board directors across more than 20 major economies, with the capability to influence trillions of dollars of capital through the companies they serve.
It is rapidly building a network of regional and national networks of company directors – known as ‘Chapters’ – across the globe, including us, the UK chapter. Each chapter aims to equip non-executive directors to lead crucial boardroom discussions on the impacts of climate change.
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Moving boards to action
In 2023, Chapter Zero partnered with McKinsey for a three-part event series that explored the impact non-executive directors (NEDs) can have in the boardroom to help their organisations achieve net zero. The second session, held on 21 September, explored how non-executive directors can navigate the net zero transition to shape and implement credible climate strategies. We have summarised below the key takeaways of this event.
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