Climate change is shaping a new reality, creating risks and opportunities for business in a diverse number of ways. Investors, regulators and other stakeholders are now challenging companies to take responsibility by adopting an integrated, strategic approach to addressing the climate emergency.
The urgent need to address the climate emergency requires governments and business to accelerate the transition to a new economic model, which seeks to limit global average temperature increases to 1.5°C above pre-industrial levels. The Intergovernmental Panel on Climate Change’s AR6 Synthesis Report – Climate Change 2023 suggests that meeting this target may not be possible without immediate, and large, greenhouse gas emissions reductions. It says warming is likely to exceed 1.5°C above pre-industrial levels during the 21st century, making it harder to limit warming to below 2°C.
To fulfil their fiduciary duties in the long-term service of their organisations, directors need to be fully aware of the implications of climate change, have the skills, tools, processes and information to act, and commit to steward their companies through the challenges climate change entails to embed it within their companies’ strategic planning.
Climate Governance Principles
The World Economic Forum has developed a set of Climate Governance Principles for boards of directors, with a view to enabling directors to gain climate awareness and skills, embed climate considerations into board decision-making, and understand and act upon the risks and opportunities that the climate emergency poses to the long-term resilience and business success of their companies, while taking into account all stakeholders.
To support this work, a collective called the Climate Governance Initiative (CGI) has been formed. The CGI Community is composed of directors and subject matter experts, organised into national or regional chapters. The network commits to share knowledge and promote the adoption of the CGI Principles at both a local and global level. Each Chapter has signed up to the CGI Charter.
Most of the chapters have adopted the Chapter Zero brand, signaling their commitment to support the global goal to achieve net zero carbon emissions by 2050.
Chapter Zero in New Zealand
The Institute of Directors New Zealand (IoD) is proud to be the host of Chapter Zero New Zealand - the national chapter of the Climate Governance Initiative.
The mission of Chapter Zero New Zealand is to mobilise, connect, educate and equip directors and boards to make climate-smart governance decisions, thereby creating long term value for both shareholders and stakeholders.
Chapter Zero New Zealand is guided by a Steering Committee which provides strategic perspectives and advice and a Working Group that supports the delivery of the Chapter Zero news, resources, insights and engagement activities.
Become a Supporter
We welcome all New Zealand directors to become a Supporter of Chapter Zero New Zealand. This is not limited just to members of the Institute of Directors.
Becoming a Supporter signals your commitment to bring climate-related issues to your board table, encouraging important conversations, driving action and promoting good climate governance across New Zealand’s director community.
Supporters will receive access to a range of resources, news and events to grow their skills and knowledge.
Global Network
Chapter Zero New Zealand is a member of the Climate Governance Initiative (CGI) with over 30 active chapters in more than 70 countries/regions around the globe.