Climate change is a risk for both society and for business. Climate change also presents business with new markets and opportunities.
Fidelio has seen the importance of climate change reflected in both our Board Evaluation and Board Search assignments. Chairs are clearly seeking to increase the climate change competence within the Boardroom.
Reflecting our commitment to preparing Boards for the risk and opportunities of climate change, Fidelio was pleased to be a signatory to an important and timely declaration by Chapter Zero and leading search firms to ensure that climate change is better addressed in UK Boardrooms.
Specifically, as a signatory Search firm, we have committed to the following:
An undertaking to continue to raise the issues of sustainability and specifically the Board’s climate change capabilities with every Board client and candidate. This includes the wider environmental and social issues or implications.
To assess every chair and non-executive director candidate for their competence on climate change issues, applying the following criteria:
A general understanding of the science around global warming, the current international and national debate and evolving stakeholder expectations;
An understanding of and literacy around the climate-related risks facing the businesses with which they are currently involved and what those businesses are doing in concrete terms to mitigate those risks and make progress towards net zero; and
A clear willingness to engage actively.
To participate in a regular/annual feedback and review process to assess how the commitment is being acted upon and the impact it is having in the market.
And to ensure that our consultants and teams who are involved in board appointments understand the role and obligations of company directors in tackling climate change and the capabilities required.
Fidelio welcomes this important initiative that promises to raise the level of climate change understanding in leading Boardrooms. To read Chapter Zero’s full press release, please click here.