
Chapter Zero New Zealand Board Toolkit
This toolkit is published to provide tools, support, and encouragement to prioritise climate change on boards and within organisations. The resource outlines 5 steps to ensure boards are well-equipped to address climate change, with relevant industry sector case studies.
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OVERVIEW
Climate change and the role of the board
The report highlights the business imperative of addressing climate change, given the potential risks organisations face from delayed action. It suggests boards adopt a proactive approach to address the challenges of climate change and reap the potential future rewards. Organisations that take faster action on climate change could save NZD30 billion by 2050 while taking a vital step towards strategic planning and foresight which encourages thinking beyond short-term goals.
Five steps to ensure your boards are prepared
The five-step process outlined by Chapter Zero New Zealand for boards to implement is:
Step 1: Ensure the right board oversight
Step 2: Establish the need for change
Step 3: Set direction and plan the change
Step 4: Embed and sustain the change
Step 5: Monitor and optimise.
Under Step 1, Chapter Zero New Zealand notes the importance of appointing a separate board committee to address climate change challenges, ensuring the board has the right competence and access to the right expertise.
Step 2 emphasizes the need to establish clear and ambitious goals, while avoiding greenwashing. Chapter Zero New Zealand highlights the importance of establishing credibility and setting reasonable expectations from the beginning when establishing targets.
Step 3 involves aligning climate change priorities with investment and other decision-making throughout the organisation, including SMART strategic objectives that embody the vision and key priorities of the organisation.
Step 4 emphasizes setting the right tone from the top to inspire the required change in culture and behaviour across the organisation.
Finally, Step 5 has to do with measuring and reporting the organisation’s climate impact. Here, the report outlines the ways organisations could measure and reduce emissions through a full-value chain perspective.
Case studies
The report also features industry-specific case studies to shed insights into how businesses are approaching climate change. For instance, the case studies of the retail, agricultural, and financial services industries provide examples of the kinds of risks to which those industry sectors are exposed. They further highlight how these industries can incorporate climate-related goals into corporate strategies to mitigate risks and identify opportunities.
Additional resources
The Appendix section offers a collection of essential tools, guidelines, and standards available to report on climate change issues. These resources will enable directors and boards to gain skills and improved climate awareness, empowering boards to understand and act upon the risks and opportunities that climate change poses to long-term resilience and business success.
In summary, Chapter Zero New Zealand Board Toolkit is a comprehensive guide that provides directors and boards with evidence and support to address climate change as a priority for their organisations. The report sheds light on the importance of taking a proactive approach to addressing the challenges associated with climate change, ensuring that boards have adequate expertise, credibility, and the right competence to find the right solutions. By embedding and sustaining climate change strategy within an organisation’s culture, businesses can achieve climate action as a competitive advantage while mitigating any negative effects of climate risk.