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.
Related Content
How does the 2024 SEC Climate Disclosure Rule Impact Your Board?
This article from the Climate Governance Initiative, written 5 September 2024, provides an overview of the U.S. Securities and Exchange Commission (SEC) climate disclosure rule.
Chapter Zero FT campaign: resonance and achievement
At the close of Chapter Zero’s six-week campaign in the Financial Times, Julie Baddeley, Chair, reflects on the growth in board attention on climate since Chapter Zero was established in 2019, and how well the messages in the ads have resonated with members and non-members alike.
Climate action: a fiduciary responsibility for NEDs
Understanding the impact of climate change and addressing it is a fiduciary responsibility for NEDs, says Chapter Zero Fellow Laurel Powers-Freeling. So, they must own it.
