Welcome to our February Bulletin which sets out our goals and how we are going about achieving them, plus the latest events calendar and content released.

“The WEF Climate Governance Initiative aims to enable non-executive directors (NEDs) build their understanding of climate change and play a proactive role in stewarding their companies’ climate transition strategies. Even for NEDs who are knowledgeable about the science and macroeconomics of climate change, many find it hard to tackle the practicalities of embedding this in board activities such as risk assessment and strategic planning. At Chapter Zero we help our members both to understand the challenge and how to play their part in tackling it.”
The Chapter Zero Steering Committee


  • Chapter Zero now has a membership of more than 600 (450 in January).
  • 40 of the companies in the FTSE 100 have at least one Chapter Zero board member (33 in January).

Register for our upcoming events in 2020

March, 4th at 08:30am to 11:00am

> Climate change resilience: scenario planning

With Carbon Trust
Register for the Workshop

March, 27th at 7.20pm to 8.45pm

> How can climate models help us respond to climate change?

With The Royal Institution
Register for the Private drinks (free to members) followed by public address

April, 2nd at 08.30am to 10.30am

> A transition to net zero

With Deloitte
Speaker announced: We’ll be joined by speaker Mike Thompson, Head of Carbon Budgets at the Committee on Climate Change.Register for the event

April, 29th at 08:30am to 10:30am

> New event: Delivering the carbon transition: investor expectations and the business response.

Bringing together investors and asset owners, corporate leaders and Chapter Zero non-executive director members to consider how to create systemic change which will help manage the net-zero transition.
Dr Steve Waygood, Chief Responsible Investment Officer at AVIVA, will lead the event and we will announce the full line up of speakers shortly.

With AVIVA
Register for the event

May, 18th at 08:30am to 10:30am

> New event: Transitioning to a sustainable, zero carbon economy & the evolving implications for corporate governance.

Experts from CISL will address the evolving expectations of boards and directors to navigate transformational change across the economy and society. Focussing on the need to consider wider environmental and social challenges in order to achieve the zero carbon goal, as well as the rapid shifts in financial market responses and expectations.

With Cambridge Institute for Sustainability Leadership & Willis Towers Watson
Register for the event

June, 9th at 08:30am to 12:00pm

> New event: CROs, CFOs and NEDs discussing the impact of climate change across sectors. GARP will launch the results of their latest survey at this event.

Insights into the evaluation of corporates’ responses to climate risk and the decision making process for Chief Risk Officers. We will hear how a FTSE100 company is responding, and from the regulators on required disclosures and what good reporting looks like.

With Global Association of Risk Professionals
Register for the event

June, 11th at 08.30am-11:00am

> Climate change resilience: scenario planning

With Carbon Trust
Register for the Workshop

July, 1st at 4.30pm – 6:30pm

> New event: Climate change and stakeholders: consumers, employees and pension contributors

Bringing together leaders from One Young World, executive/industry leaders as with Chapter Zero members to share experiences and perspectives on ensuring business resilience in the face of the climate challenge.

With One Young World, Willis Towers Watson & ICAEW
Register for the event

September, 7th at 4:30pm to 6:30pm

> New event: What does a zero carbon business strategy look like?

We will examine the need for a strategic response to the end of business as usual, providing in turn a framework for business action. From there, we will further explore how businesses can respond to key challenges/barriers in order to progress and develop a zero carbon strategy.

With Cambridge Institute for Sustainability Leadership & Willis Towers Watson
Register for the event

October, 6th at 08.30am – 12:30pm

> New event: Climate change and board policy: remuneration, culture and role

Experts discuss the changes to board policy that are expected in the next remuneration cycle as a response to climate risks and opportunities, science-based targets and net zero pledges.

With Willis Towers Watson
Register for the event

 


Climate liability risk event

Together with Clyde & Co and Willis Towers Watson, we hosted a climate change liability risk event for 150 which was fully subscribed. The event demonstrated the benefit of scenario planning, need for long term viability modelling and showed the increase in climate litigation.
The full slide set is available to Chapter Zero members here.


Financial statement impact and narrative reporting in the annual report event

During December 2019, together with Deloitte, we hosted event 4 of 4 in the climate series for 70. Our keynote speakers were Sarah Breeden, Executive Director of the Prudential Regulation Authority at the Bank of England, Judith Batchelar OBE, Director of Sainsbury’s Brand and Veronica Poole, Global IFRS Leader at Deloitte. The event described the impact of climate and why it is relevant to the Bank of England, as well as expectations for disclosures, how practitioners are responding and the auditor’s view.

> Climate Crisis series event [Video]

> Climate Crisis series event four [Short summary]

Recordings of events 1 and 2 are on our website.


Resources available to you

Click here for the an easy to use summary of the most recent publications from third parties added to our website.
Cant keep up with all of the acronyms, sustainability industry bodies and frameworks? Our website can assist, click here


The investors’ perspective

The Global Sustainable Investment Alliance has polled investors on companies’ climate-related disclosure. 59% of respondents were “very” or “somewhat” dissatisfied, and 87% do not believe that markets are correctly pricing climate risks into valuations.

The Investment Association (IA) have published their Listed company shareholder priorities for 2020. It focuses on four areas that IA members consider to be key drivers to long-term value, one of which is climate change. The IA says that investors are looking for significant progress from listed companies in implementing the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) recommendations. Institutional Voting Information Service will introduce a new section to its ESG report (on environmental, social and governance issues), highlighting to investors whether a company has made climate change-related disclosures. Some key takeaways are:
IA members expect all listed companies to include a discussion in their annual report of the impact that climate change will have on their business and how the company is managing this impact.
Emissions disclosures provide some indication of climate related risks but don’t inform investors on the approach companies are taking to managing these, or the wider range of climate related risks they are exposed to.
The IA’s corporate governance research service will introduce a new section to its ESG report, highlighting to investors whether a company has made climate change-related disclosures.


Effective climate governance

Dr Emily Shuckburgh (University of Cambridge’s climate initiative) joins “Better Boards” on the latest podcast available here.

An excellent source for insights into climate science’s data and what boards need to be aware of.


Useful feeds for regular updates

Carbon brief: This email is a digest of the past 24 hours of media coverage related to climate change and energy, as well as a pick of the key studies published in the peer-reviewed journals.

Edie news: For current affairs, climate policy, consumer trends and corporate responses.

Grantham institute: The Grantham Institute mailing list provides weekly summaries of the world-class research and innovation the university is involved in, with a view to assist business decision makers.


Please let us know of any changes to your appointments so that our records are kept up to date by email admin@chapterzero.org.uk