Climate Governance Initiative Australia

AICD has joined the Climate Governance Initiative as host of the Australian Chapter.

Climate change is creating diverse risks and opportunities for organisations. Investors, regulators, employees and other stakeholders are now challenging directors to address climate risk at an organisational level.

What is the Climate Governance Initiative?

The Climate Governance Initiative is an active network of bodies globally that promote the World Economic Forum Climate Governance Principles for boards and effective climate governance within their jurisdictions. The CGI network seeks to mobilise, educate and equip directors with the skills and knowledge necessary to address climate change at the board level.

The principles, endorsed by the AICD, support directors to gain climate awareness, embed climate considerations into board decision-making, and understand and act upon the risks and opportunities that climate change poses to their organisations.

The AICD endorses the CGI Charter, available here.   

What is the mission of Climate Governance Initiative Australia?

Climate Governance Initiative Australia aims to bring together the expertise of climate governance leaders to meaningfully contribute to the discourse on climate change governance.

We aim to activate the director community through education based on the principles as adapted for Australia, on strategies for embedding climate considerations into Australian boardrooms’ strategic decision making. As the long-term stewards of Australian organisations, the director community has a vital role in addressing the issue of climate change in Australia to ensure a sustainable future and a robust, competitive Australian economy.

Through Climate Governance Initiative Australia, the AICD encourages non-executive directors to serve as advocates within their boards for the adoption of strategies that are aligned with the best-available recommendations of the scientific community, to achieve net-zero carbon emissions by 2050 or earlier, consistent with a global average temperature rise of no more than 1.5°C above pre-industrial levels.

Why is the AICD hosting Climate Governance Initiative Australia?

The AICD is hosting Climate Governance Initiative Australia to support our members better to meet the challenges and opportunities of governing climate change risk.

Specifically, we aim to support the AICD membership and Australian director community more broadly with strategies for embedding climate considerations into boards’ strategic decision-making.

As host, our members have access to a global network of non-executive directors and support from experts leading their organisations’ governance response to climate change.

The AICD is proud to be the Australian home for this important conversation amongst directors.

With more than 46,000 members, no other organisation in Australia is better positioned, both in mission and reach, to impact the conversation on climate change at the board level.

How is the Climate Governance Initiative Australia governed?

The AICD has convened a working group of subject matter experts including PwC, Deloitte, MinterEllison, Herbert Smith Freehills and the Pollination Group as well as non-executive directors.

This working group will be responsible for taking the Australian Chapter forward, establishing a governance structure and a Charter, and designing and rolling out a program of works.

We’ll share more news once the working group finalises decisions on the Climate Governance Initiative Australia governance and its forward program of work.

AICD launches Climate Governance Initiative Australia