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COP 27: Key outcomes for Board Directors

Thu, 24 Nov

The Climate Governance Initiative has published a briefing highlighting the key outcomes from this years United Nations climate meeting, COP27. It includes the key questions non-executive directors should raise on climate reporting and disclosure, and what tools and techniques can be leveraged in guiding their companies to deliver climate action.

The briefing highlights the key outcomes from the 2022 United Nation's climate meeting, COP27, how it may affect you as a non-executive board director, and the resulting conversations you should have in the boardroom.

The key takeaways for board members from the COP27 briefings are:

1.  Official regulatory bodies are working hard to clarify and harmonise standards for climate-related reporting which will support transparency and help to combat greenwash

2. Acting on climate targets and developing credible action plans was an important focus of COP27

3. An increasing number of organisations are facing legal challenges for not providing credible pathways and action plans to support and achieve their net zero targets

4. The importance of public-private sector partnerships and international collaboration was reinforced over the two weeks of COP27

Use the link below to read the full briefing which includes key questions for non-executive directors to raise with their boards for each points.

 

Looking ahead

Next year’s UN global climate meeting, COP28, will be hosted in the United Arab Emirates and significantly mark the end of the first Global Stocktake. This stocktake process began at COP26 and will inform the 2025 Nationally Determined Contributions (NDCs) to ensure the levels of ambition align with the requirements to reach the goals of the Paris Agreement. It will be crucial to ensure the accountability of climate commitments from businesses, investors, cities and regions, and will provide an opportunity for non-state actors to offer solutions to challenges faced by governments.