Chapter Zero is the UK chapter of the World Economic Forum’s Climate Governance Initiative and is growing internationally in membership. The organisation aims to support business by providing training and materials to non-executive directors concerning Climate Change risks and opportunities. For instance, in April 2020, it introduced eight steps to help non-executives participate effectively in conversations about the Climate Challenge in its publication The Directors' Climate Journey and in July 2020 it published a guide of Questions to Assist Non-Executive Director Oversight of Physical Climate Change Risk Management to help its members understand how these risks could affect their companies and stakeholders.
The work done by Chapter Zero links to the World Economic Forum's 2019 Principles for Climate Governance. Chapter Zero aims to inform corporate boards by running Climate Change briefings and workshops, and providing access to briefing materials for boards. This allows non-executive directors to engage with the potential risks and opportunities for businesses and bring these considerations to boardrooms. Clyde & Co was proud to work in collaboration with Chapter Zero and Willis Towers Watson on a climate liability risk workshop in January 2020.
The organisation's focus on NEDs is well-placed. Independent NEDs are an essential part of the corporate governance structure and their contributions are imperative. Engaging with them on the granular level will aid companies in becoming more climate conscious from the top down.
Clyde & Co is running a virtual legal hackathon between 1 July and 4 August 2020 in partnership with The Chancery Lane Project. This post is part of a series of updates posted during the hackathon on business-relevant climate initiatives and innovative solutions to some of the challenges arising from climate change.