Welcome to our March Bulletin which introduces the newest of our supporting Chairs, Richard Gillingwater, and provides insights from key business stakeholders.

We also set out how, despite the restrictions imposed by COVID-19, Chapter Zero will continue to provide you with the resources to have high quality and effective discussions and debate on the impacts of climate change on your business.

Richard Gillingwater becomes a supporting Chair for Chapter Zero

Richard Gillingwater, Chairman of SSE plc and Janus Henderson Group, as well as Senior Independent Director of Whitbread plc, has become the 5th FTSE company Chair to support Chapter Zero.

“In these exceptionally difficult times, Richard’s experience and support will be invaluable for Chapter Zero and our members as we ensure that climate change continues to be addressed in the boardroom, and that learnings from one crisis inform our response to the other major challenge of our time,” said Julie Baddeley, Chair of the Chapter Zero Steering Group.

  • Chapter Zero now has a membership of more than 700 (600 in February).
  • 43 of the companies in the FTSE 100 have at least one Chapter Zero board member (40 in February).

Resources available to you while your movements are restricted by COVID-19

Thank you for the responses to our survey on potential digital solutions as a result of COVID-19. Based on your responses, we will provide:

1. more third party content: Chapter Zero curates the latest in thought-leadership on the topic of climate and the impact on your business. Click here for the easy to use summary of the most recent publications from third parties added to our website repository;

2. digitised events in 2020: we will host live streamed webinars and create recordings that are available on demand, and make you aware of others’ events. Check our website for the events, however, we hope that you will not mind more frequent reminders so that you do not miss out;

3. the Chapter Zero Directors’ Climate Journey: will enable NEDs to have boardroom discussions and debate the impacts of climate change on their businesses. The framework will also help the board support the executive team to develop a strategy to respond to the climate challenge. More information to follow; and

4. links to newsletters to help you stay up to date: sign up for the feeds suggested by our members below.

Register for our upcoming online events in 2020

A transition to net zero
April, 2nd at 08.30am to 10.00am, with Deloitte (webinar)
Dial in details will be sent to you following your registration.
We’ll be joined by speaker Mike Thompson, Head of Carbon Budgets at the Committee on Climate Change.

We have a number of other online events planned for 2020, click here to view the full list.

Our recent events

Together with Wolff Olins, Chapter Zero hosted an event and published a report on the role of brand in the climate crisis. The keynote speaker was Karen Hamilton, Vice-President of Sustainable Business at Unilever, find her key talking points here.

See our LinkedIn page for the report (and to connect).

During March 2020, we hosted an event together with PWC screening the film: ‘Our Planet: Our Business’. A number of you asked to access the film so that you could show it to others, please follow the link here.

GARP online events

Chapter Zero has been working with the Global Association of Risk Professionals (GARP) on developing a better understanding of climate risk, and they have kindly offered to make their webcasts available to our members.While developed for risk professionals, this would give good insights to any non-executives on audit and risk committees who are interested in physical risk.

Building Climate Resilience: A Physical Risk Primer
March, 26 at 04:00pm to 05:00pm
Register for the webcast
The second webcast in GARP’s Climate Risk series, with insights from Dr. Richenda Connell, Co-founder and CTO of Acclimatise.

We will be putting together some customised on-line events for members with GARP, including one to replace the event at The Bankers’ Hall on 9th June which has had to be cancelled due to COVID-19. Please continue to hold that date in your diaries.

Carbon Trust online events

The Carbon Trust’s webinar series covers a range of carbon reduction and climate change related topics. You can register below for their upcoming webinar on setting net zero targets.

Time for action: setting net zero targets
March, 27th at 02:00pm to 03:00pm
Register for the webinar
This webinar will share best practice on target setting and explain what companies need to do to align to a net zero world.

What is carbon neutrality and how do I achieve it?
April, 8th at 02:00pm to 03:00pm
Register for the webinar
In this webinar, Carbon Trust experts will be defining carbon neutrality and how it differs from net zero

Investor: Accountability for systemic inclusion of ESG factors in decision-making

By popular demand we have included here the link to the keynote speech of Hiro Mizuno, the outgoing CIO of GPIF at the A4S Summit 2019. GPIF is the Japanese Government Pension Investment Fund, and is the largest pool of retirement savings in the world. Mizuno has been instrumental in steering GPIF down a long-term value creation investment strategy.

“So we now make a very clear statement, every single asset manager who manages our money regardless of their asset classes are required to integrate Environmental, Social and Governance.”

Regulators: FCA Announcement – Financial statement impact and narrative reporting in the annual report event

The FCA’s consultation paper (CP20/3) contains the detailed rationale for the new requirement to improve climate change related financial disclosures. It will come into force for financial years beginning on or after 1 January 2021.

Already more than 1,000 global organisations declare support for the Task Force on Climate-related Financial Disclosures and its recommendations – read more benefits of reporting here.

Chapter Zero member’s comment: COVID-19 and Climate

“It’s occurred to me that there is a useful read across for climate change focus, from the COVID-19 outbreak. The world is taking concerted action together, quickly and painfully to stop the spread of the virus. It’s thus interesting that only the immediacy of COVID-19 has galvanised us to the sort of action climate change risk requires us to take for a bigger but longer term risk to the future of mankind.  We must find some long term learnings from this and make sure governments apply them (perhaps a green finance stimulus package).”

While Chapter Zero sources a new online event to respond to this member’s observation, please forward any relevant responses you may come across to admin@chapterzero.org.uk. We will be gathering insights on the impacts of COVID-19 and the policy response to share with you over the coming weeks.

Science, innovation and opportunity

new report by Energy Systems Catapult has found Net Zero by 2050 is possible if the UK supports innovation and scale-up across three essential areas – Low Carbon Technology, Land Use and Lifestyle.

“To reach Net Zero, new technology and behaviour change options have been added for different scenarios:

  • Ships fuelled by hydrogen/ammonia
  • Decarbonisation of industry via electrification or hydrogen have been extended
  • Off-road mobile machinery to transition away from fossil fuels
  • Carbon, capture and storage with 99% capture rates (up from 95%)
  • Direct air carbon capture and storage
  • More UK biomass and forestry
  • Larger reductions in livestock farming.
  • Slower aviation demand growth.”

Feeds and newsletters

Finsbury’s guide to the climate change initiatives to watch: a compact weekly discussion of the most relevant climate news. 

Bloomberg’s daily Green newsletter (paid): real time insights on the latest in science, environmental impacts, zero-emission tech and green finance.

Carbon brief: daily email 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: 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, with a view to assist business decision makers.

Jargon and Acronyms

Can’t keep up with all of the acronyms, sustainability industry bodies and frameworks? Our website can assist, click here