Board members need to continuously assess short-,medium-, and long-term climate risks and opportunities in order to take appropriate action in line with the specific needs of the company and the requirements of legislation, investors, financial markets, and business partners.
The World Economic Forum has developed a set of eight principles to guide the development of effective climate governance. To make these principles useful and tangible, each of them is accompanied by a set of guiding questions. These questions help organisations to identify and address potential gaps in their existing climate governance strategies.
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This article is part of a series of monthly articles explaining the eight climate governance principles, which are designed to increase climate awareness, embed climate considerations into board structures and processes and improve navigation of the risks and opportunities that climate change poses to business.
