2022 Climate Change Guide for Boards and Management
In this article from Lawyers Weekly and sources provided from the Governance Institute of Australia, it is shown that many companies don’t have a clear roadmap of their climate change actions. The Governance Institute has provided a clear Climate Change Guide (DOWNLOAD HERE) for organisations both large and small to understand the practical steps they can take.
THIS ARTICLE’S KEY TAKEAWAYS ARE:
- Many organisations simply don’t know where to start with climate change measures, this guide aims to solve this with simple steps and information
- Climate change seems like a long distant future, however we are now seeing events in our home suburbs and not just on the news
- Don’t delay organisational action
- Download the step-by-step guide here for boards and management on the path to net zero
TAKING ZERO COMMITMENTS SERIOUSLY
Organisations and firms around the country have been urged to take their net zero commitments seriously moving forward, with a new road map for climate change launched by Governance Institute of Australia today (19 April).
As net zero goals become increasingly important in the era of climate change, Governance Institute has launched a new guide designed to be used as a road map for organisations.
The new Guide for boards and management on the path to net zero responds to recent major international climate policy developments, significant shifts in expectations on organisations to take action – including disclosing climate risk – and ongoing concerns about a lack of firm action at a national level.
STEP-BY-STEP CLIMATE CHANGE GUIDE FOR ORGANISATIONS
Speaking to Lawyers Weekly, Governance Institute chief executive Megan Motto said that the guide would be useful for companies that know they need to take action regarding climate change – but don’t know where to start.
“Many organisations know they need to take action on climate change, but they don’t know how to get started. They may be overwhelmed, confused or simply unable to get clear advice on the next steps,” she said.
“This very practical, step-by-step guide has been created to fill that vacuum. It is designed for organisations of all sizes and across sectors. It can be used to get board buy-in on the issue, and to kick-start a review of how your organisation’s priorities and risks may be impacted by climate change – because they will be impacted.”
Based on the findings from a specially convened Governance Institute working group, the new guide will assist all organisations – large and small and across sectors – to take immediate action post-pandemic, Ms Motto added.
WHAT’S INCLUDED IN THE CLIMATE CHANGE GUIDE?
The guide outlines key steps to net zero, including how to orchestrate the conversation around climate change, how to deal with the challenges related to transitioning to net zero and selecting a framework that addresses stakeholder needs and expectations.
“Many organisations are starting to feel the direct and indirect impact of climate change, but many still do not see it as an immediate threat. Extreme weather events are no longer just the domain of nightly news reels depicting distant lands. They are happening to us, in our suburbs, with severe fires and floods impacting our friends and family,” Ms Motto added.
“The key message is: Do not put this off. Organisations need to recognise that the time to act is now. There can be no delay.”
GOVERNANCE INSTITUTE KEY STEPS TO NET ZERO
- Governance: Orchestrating the climate change conversation. How do you embed climate into the core of an organisation?
- Strategy: Planning for net zero. How do you deal with the challenges related to transitioning to net zero?
- Expectations: Managing legal and stakeholder expectations. How do you manage expectations on climate disclosure and action amongst evolving legal expectations?
- Reporting: Selecting a framework. How do you select a reporting framework which addresses stakeholder needs?
– Source: ‘Time to act on climate change‘ Governance Institute of Australia
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