The Implications of Climate Change for Boards

In brief: Today’s boards confront a more complex and rapidly evolving risk landscape than they ever have before. At the start of 2020, disruptive technologies, cybersecurity, geopolitical volatility, and societal dynamics were just a few of the risks vying for directors’ attention. Shortly after, a global pandemic triggered simultaneous public-health and economic crises. Faced with such urgent threats, it is easy for directors to view climate change as something for the longer term—as something that can be dealt with once more immediate risks have been addressed. 

 To help directors understand the material effect on enterprise risks and opportunities of climate change, NACD, in partnership with Marsh & McLennan, created this compendium that focuses on implications for the role of the board, the personal liability of directors, and the skills and competencies that boards need to develop.

This resource can help boards to recognize the risks and opportunities of climate change: 

  • Understand the risk implications of climate change.
  • Identify the current state of climate-risk oversight.
  • Evaluate climate disclosures.
  • Realize climate opportunities.
  • Build climate-smart boards. 

Most relevant audiences: board chairs; nominating/governance committee chairs and members; full boards; audit committee chairs and members