Climate Governance Initiative Greece (CGI Greece) joins a global network of national associations of Board Directors to fight climate change from the boardroom. CGI Greece will support board directors in raising awareness in the boardroom on how climate risks could affect their business and identify opportunities to transition towards a net zero economy.
In what is a critical moment for the Greek ecosystem, CGI Greece, a Greek non-profit civil partnership, will join the Climate Governance Initiative (CGI), as its Greek Chapter. The Climate Governance Initiative (CGI) is a global project hosted by the Centre for Climate Engagement at Hughes Hall, University of Cambridge, in collaboration with the World Economic Forum. The Greek Chapter’s mission will be to promote climate change management through corporate governance, in accordance with international best practices.
“The impact of climate change is happening faster than we had ever predicted and our actions are lagging behind,” noted Marina Niforos, CGI Greece Founder and President. “The private sector must take the lead in cutting greenhouse gas emissions by at least 55% by 2030. Boards of Directors, as custodians of company strategy, have a vital role to play and will require enhanced capabilities to ensure a transition to more sustainable business models. CGI Greece aims to equip Board Directors with the necessary skills and tools to drive the change needed and achieve their climate neutrality goals.”
ELLET, a pioneer organization promoting environmental protection in Greece, has joined as co-founder of CGI Greece, convinced of the urgency of the mission and the complementarity of objectives. “The climate crisis can only be dealt with if civil society and business find ways to cooperate,” commented Andreas Zombanakis, member of the Board of Elliniki Etairia, Greece’s leading heritage and environmental organisation. “We are very pleased to be part of CGI Greece’s unique initiative which has set as its goal to increase awareness and focus the minds of the members of companies’ boards of directors on their duty to address climate change.”
The CGI (www.climate-governance.org/) has established a global network of national and regional chapters in more than 20 countries to date and continues to expand. Greece joins a dynamic global community of Board Directors that are committed to mobilising boards in fighting the impact of climate change that is increasingly affecting business and society. The initiative comes at a critical juncture, as multiple stakeholders, investors, regulators and employees have heightened expectations of the role business can play to address climate change. The new climate reality forms a critical challenge for businesses: it will create winners and losers. “The pressure to take action is building from all stakeholders. Boards will be called to provide credible answers that withstand scrutiny” Niforos continued. “The response from the business community is imperative. Greece is joining the Climate Governance Initiative with the aim of providing the means by which the corporate governance ecosystem can learn, connect with an international movement of peers and acquire practical skills to tackle climate change in the boardroom.”
CGI Greece will build a community of board members that wish to effectively support and accelerate their organisations’ sustainable transformation by:
• Promoting ‘climate’ awareness and skills
• Understanding how to embed climate considerations into Board decision-making
• Gaining insights into stakeholder and regulatory developments to ensure proactiveness
• Engaging both locally and globally with peers and learning from best practices and collective knowhow
• Developing a toolkit for Boards to analyse both the risks and opportunities that the climate emergency poses to long-term resilience and the business success of their companies.
The CGI Greece is honored to have contributed to the second edition of the Legal Primer on Climate Change: Directors Duties and Disclosure Obligations, providing insights for the Greek jurisdiction.
About CGI Greece
CGI Greece is a registered Non-Profit Civil Partnership. The decision-making body of CGI Greece is the Steering Committee, which currently consists of:
• Niforos Marina, CGI Greece President
• Zombanakis Andreas, CGI Greece Vice President
• Koussia Venetia, Member of the CGI Board
• Nicolaidis Natalia, Member of the CGI Board
• Potamitis Stathis, Member of the CGI Board
CGI Greece is honored to count on the support of its trusted partners. Deloitte Greece will serve as strategic partner and Boston Consulting Group (BCG), as knowledge partner.
Alithia Diakatos, Risk Advisory Leading Partner in Deloitte Greece, states: “All companies need to be considering their role in addressing climate change and transitioning to a sustainable future. The Climate Governance Initiative is a ground-breaking step for the Greek market, allowing non-executive directors of Greek companies, and especially members of supervisory boards, to be equipped with the right knowledge and support to effectively embed climate considerations in their business strategies”. “Business leaders are navigating unknown waters when it comes to climate. We look forward to bringing the best global knowledge and experiences to Greek boards, helping to navigate the risks and taking advantage of the numerous opportunities that are emerging”, added Chryssos Kavounides, Head of BCG Athens.
About the World Economic Forum
The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, and other leaders of society to shape global, regional, and industry agendas (www.weforum.org). The Climate Governance Initiative is a project in collaboration with the World Economic Forum.
