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Easy to use materials
To help drive conversations in your boardrooms we have developed the Toolkit which is accessible to Chapter Zero members. Click here to request the Toolkit.
- We have collaborated with ICAEW and Deloitte to produce nine short films introducing the challenge of climate change to the citizen and to business. To view these visit: deloitte.co.uk/climatechange
- Our Planet: Our Business – a version of David Attenborough’s Our Planet (Netflix) has been edited for a business audience by the WWF and our partner ICAEW. It features scientific, business and political leaders who share their thoughts about the cumulative loss of nature worldwide, including the impact on businesses should nature collapse. Michael Izza, CEO of ICAEW, launched the film with a speech showing the ICAEW’s commitment to using its huge reach – 150,000 chartered accountants worldwide – to take a lead in tackling the issue.
- Videos (and 5-Minute Read Key Takeaways) from a 4-part Climate Crisis series, run by The Deloitte Academy, in collaboration with Chapter Zero, the UK Chapter of the World Economic Forum (WEF) Climate Governance Initiative:
1. Climate Crisis Briefing – Bringing climate change on to the board agenda event (13 September 2019).
The speakers were Simon Thompson, Chair of Rio Tinto PLC and 3i Group PLC, Emily Farnworth, Head of Climate Change at WEF, Emma Howard Boyd, Chair of the Environment Agency, and Susan Hooper, non-executive director of Rank Group, Uber UK, Affinity Water and Wizz Air.
2. Climate Crisis Briefing – climate change risks and opportunities, scenario analysis and strategy (14 October 2019).
The speakers were Richard Gillingwater, chair of SSE and Daniel Klier, Global Head of Sustainable Finance, HSBC (plus an expert panel).
Glossary of terms
A resource to help NEDs get comfortable with climate change related jargon. Click here.
Links to key sources of information to stay informed
Developing an understanding of Climate Change
A tool created to help Schroders’ analysts, fund managers and clients track climate action. 4 Oct 2019
Science Advisory Group to UN Climate Action Summit 2019
The report includes details on the state of the climate and presents trends in the emissions and atmospheric concentrations of the main greenhouse gases. It highlights the urgency of fundamental socio-economic transformation in key sectors such as land use and energy in order to avert dangerous global temperature increase with potentially irreversible impacts. It also examines tools to support both mitigation and adaptation. 22 Sep 2019
The results make reaching the Paris Agreement targets extremely challenging without stronger Government policies. Progress on climate appears to have stalled and the Paris Agreement goal slips further out of reach as a decarbonisation rate of 7.5% per year is now needed to limit warming to 2°C. Boards will be increasingly challenged to deal with extreme weather impacts and growing climate policy risk. 19 Sep 2019
Global Commission on Adaptation
This report focuses on making the case for climate adaptation, providing specific insights and recommendations in key sectors such as food security, water, infrastructure and finance. 13 Sep 2019
World Economic Forum
A paper on the speed of the energy transition. 12 Sep 2019
This briefing explores the challenge of how energy can be supplied affordably and reliably, while honouring the UK’s commitment to almost completely eliminating carbon emissions over the next three decades. 6 Sep 2019
Does your business understand the financial, environmental, economic and socio-cultural risks of a 1.5°C warmer world? 8 Oct 2018
This analysis examines the implications of the physical risks of climate change for companies and investments. Aug 2018
Partners: Grantham Research Institute on Climate Change and the Environment, LSE, FTSE Russell & Principles for Responsible Investment
A global initiative led by asset owners and aimed at investors: website
Aligned with TCFD and supported globally by major asset owners and asset managers, the Transition Pathways Initiative publishes research on high impact sectors, including autos, cement, oil and gas, coal, electric utilities, paper, aluminium, aviation, shipping, chemical and steel sectors.
Grantham Institute, Imperial College London
Keep up to date with research activities at the Grantham Institute, receive invites to their events and find out about their latest publications.
UK Government policy and policy proposal papers
|CBI||Low carbon 2020s – a decade of delivery *NEW*||This paper sets out the CBI’s policy recommendations for the 2020s to government, focused on the sectors that are key to the UK’s domestic net-zero ambitions 4 Nov 2019|
|Aviva||Marshall plan for the planet||Aviva’s paper sets our their ideas for how to address the major barriers that are still preventing proper investment in a sustainable future. 2019|
|UK government||The Green Finance Strategy||This government strategy explores the role of the financial sector in delivering global and domestic climate and environmental objectives. 2 Jul 2019|
|UK government||UK government commits to net zero||UK government passes net zero emissions law. 27 Jun 2019|
|Energy Transitions Commission||Mission Possible report||This report describes why reaching net-zero CO2 emissions from harder-to-abate sectors is technically and economically feasible, how to manage the transition to net-zero CO2 emissions in heavy industry and heavy-duty transport and what policymakers, investors, businesses and consumers must do to accelerate change. 19 Nov 2018|
|UK government||The Clean Growth Strategy||This strategy sets out the government’s proposals for decarbonising all sectors of the UK economy through the 2020s. Last updated 16 Apr 2018|
|Committee on Climate Change||https://www.theccc.org.uk/||Website detailing the independent advice to government on building a low-carbon economy and preparing for climate change.|
Identifying, assessing and measuring the business risk
Herbert Smith Freehills
This report considers the political, regulatory and commercial pressures arising from climate change and examine the opportunities and rewards for corporates leading the charge into a lower-carbon future. 25 Sep 2019
Bank of England
How prepared are business leaders/NEDs to assess, and accept, the significant financial risks and potential losses of global financial assets to their organizations that climate change presents? 15 Apr 2019
Bank of England
This page on the BoE’s website details the work the Bank is carrying out ongoing to assess and respond to climate-related financial risks.
Clyde & Co
Examines how assessments of climate risk, resilience and the opportunities created by the transition to a low-carbon economy and adaptation to climate change are being increasingly integrated into business decision-making. 29 Mar 2019
The Carbon Trust
The consequences of climate change are negative and formidable, including damage to infrastructure, disruption of supply chains, water scarcity and shifts in customer behaviour. How can businesses mitigate these risks by working to keep global warming below 1.5°C? Oct 2017
The Carbon Trust
How will the transition to a low carbon, environmentally sustainable future affect projected cash flows and company value? And as the drivers for an environmentally sustainable economy grow stronger, would your company consider changing products, services and business models? Jun 2015
The Carbon Trust
What is the impact of a transition to a low carbon economy on companies and how can this transition affect projected cash flows and company value? 22 Sep 2008
Legal and General
L&G: Why should companies disclose the impact of climate change on their business and performance and what governance procedures and disclosures should company Boards put in place to ensure that climate considerations are core, and comprehensively linked, to their business planning and strategy? 2019
World Economic Forum
What governance principles are needed to increase directors’ accountability, climate awareness and their commitment to embed climate considerations into Board structures and stewardship? Jan 2019
Disclosure - procedure
Financial Reporting Council
This report has been developed to assist companies and provide practical guidance on how to meet investor expectations using the TCFD framework. 22 Oct 2019
Climate Disclosure Standards Board & Sustainability Accounting Standards Board
This handbook identifies good practices in implementing the TCFD recommendations. 23 Sep 2019
Climate Disclosure Standards Board
A climate-related financial disclosure e-learning platform designed to help organisations fill the knowledge gap and enhance their disclosures of climate-related information. Launched 10 Sep 2019
ICAEW and The Carbon Trust
Investors have joined the climate change debate and are demanding climate risk disclosures from companies they invest in. What are the TCFD’s recommendations to companies on how to report potential financial impacts from climate change on their businesses? Jun 2018
Are business leaders and company boards equipped to address climate change? How to respond to the TCFD recommendations.
Task force on Climate-related Financial Disclosures
The TCFD is a market-driven initiative, set up to develop a set of recommendations for voluntary and consistent climate-related financial risk disclosures in mainstream filings
Science Based Targets Initiatives
Why should businesses adopt science-based targets as they act on climate change and what are the benefits to future growth of a corporate commitment to science-based targets and decarbonisation?
Disclosure - perspectives
Climate action 100+
Press summary: Investors are getting closer to a climate change tipping point by Stephanie Maier, director of responsible investment at HSBC Global Asset Management
Press summary of the Climate Action 100+ 2019 progress report. Investment giants to step up calls for corporates to set net zero goals. 4 Oct 2019
A poll on perceptions around climate change during the period 11 June – 22 July 2019.15 Sep 2019
Disclosure - current reporting
Climate action 100+
Provides an overview of the activities that have been undertaken and observed progress against the initiative’s goal. 2 Oct 2019
Their 2019 report takes into account the ambition of the science-based targets and widely endorsed recommendations of the Taskforce on Climate-related Financial Disclosures. 25 Sep 2019
Bank of America Merrill Lynch
This primer highlights climate risk scenarios, TCFD requirements and a sample of disclosure from 40 companies and industry bodies across a number of sectors. 12 Aug 2019
Who are the world’s leading companies in environmental performance, action and corporate transparency in disclosing climate risk to their businesses?
Globally, how many companies say they integrate climate risk into their business strategy; how many have identified, and managed, climate related risks on their businesses; how many companies disclose the metrics and targets they use to assess climate related risk as part of their ongoing investor relations strategy?
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