An orderly transition to a low-greenhouse gas and climate-resilient economy demands robust transition planning led by effective and courageous climate leadership by boards. This was one of the central messages at a November 2023 Chapter Zero UK event hosted and co-partnered by WTW.
Plans beyond pledges brought together more than 300 policymakers, corporate and investor experts to offer practical insights for boards to deliver their vital role in stewarding the transition to net zero, including Julia King, Baroness Brown of Cambridge, Chair of the Climate Change Committee's Adaptation Sub-Committee and Carbon Trust, and SSE Chair Sir John Manzoni. The below summarises key insights on the role of boards, as well as perspectives from corporates and investors.
48% of boards currently do not have the skills and expertise to provide oversight of climate risks
Read more on the shortcomings of a pure focus on GHG emissions in Emissions Impossible: Quantifying financial risks associated with the net zero transition, a 2023 report written by WTW in partnership with Institute of International Finance (IIF).
Credible and consistent transition plans are required globally.