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  • Questions to assist non-executive director oversight of physical climate risk management

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Questions to assist non-executive director oversight of physical climate risk management

Source(s):  Acclimatise

This Guidance note was designed to help Russian Chapter’s Non-Executive Director community address the new physical climate risks coming from climate change. 

It provides a set of key questions that Non-Executive Directors can use to hold informed and strategic discussions around physical risks with their boards and senior management, as well as a concise overview of the current state of the science regarding climate change. Aimed specifically to assist Non-Executive Directors, this Guidance is drafted to provide a foundational input across all sectors. 

To help ensure that corporates institute the best governance processes and mainstream consideration of climate change at the appropriate levels throughout the business, this note considers and answers the following 9 questions:

  1. What governance mechanisms are in place for the management of current and future physical climate risks? 
  2. Does the Board have access to the right skills and knowledge it needs to institute a robust physical climate risk management strategy and monitor performance? 
  3. How is the company assured of the adequacy and rigour of its climate risk management policies and practices and disclosures?
  4. Has the company defined a strategy to build resilience to climate-related physical risks? 
  5. Has the company conducted a baseline assessment of physical climate risks and opportunities for hazard types relevant to the company’s footprint, operations and supply chains?
  6. What are the key material impacts of long-run climate change and extreme events on the company?
  7. Has the Board identified the opportunities associated with physical climate impacts that have the potential to boost the accomplishment of strategic goals and increase value to shareholders and other stakeholders? 
  8. Has management identified instances where physical climate impacts could create or increase liability risks?
  9. How will the company measure success regarding its management of physical climate risks? 

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  • Questions to assist non-executive director oversight of physical climate risk management
  • Publication date 2020
  • Author(s) Bater, Richard ; Hamaker-Taylor, Robin ; Mulholland, Ellie ; Barker, Sarah
  • Number of pages 36 p.

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