Non-executive directors of private and public sector ogranisations now have a new, free resource on climate change governance.
Thursday, December 1st 2022, 6:37PM
by Andrea Malcolm
The guide lays out what the new climate disclosure regime means for directors and offers checklists of questions directors can ask to get ahead of the curve on climate resilience and business opportunities in the transition to a low carbon economy.
The guide was developed by Deloitte in partnership with Toitū Tahua: Centre for Sustainable Finance and the Sustainable Business Council (SBC). It includes insights shared by directors in a workshop series piloted by the three organisations and aligns with international principles as well as the New Zealand Climate Standards taking effect in January 2023.
Deloitte NZ Climate & Sustainability Director Rikki Stancich says “Investors are increasingly concerned with whether businesses have credible, long term transition plans. Directors need to understand not only the risks climate change presents for the business, but also the strategic opportunity that effective climate risk governance confers.
“Our guide is designed to empower New Zealand directors to step up to the plate and guide their businesses to embed climate risk management into long term planning and investment strategies.”
Michele Embling, Toitū Tahua board member and Chair of the External Reporting Board, says, rather than being seen as a compliance exercise, the hope is that the new climate standards will help boards and organisations better manage risk and unlock opportunities.
