The Climate Governance Initiative (CGI) supports the growth of groups of board directors around the world to form networks, known as Chapters.
Our mission is to support a global network of Chapters to mobilize chairs, non-executive and independent directors through enhancing their skills in climate governance and climate action.
The core focus of the Chapters is to promote the implementation of the World Economic Forum Principles for Effective Climate Governance. Since launching the Principles, the CGI has been working with national Institutes of Directors and/or individual Non-Executive Directors (NEDs) in key countries to set up national Chapters of the Climate Governance Initiative.
The CGI Chapters and other members of the CGI Community commit to working with each other within their respective countries as well as across borders to share knowledge. They are encouraged to develop climate governance-related content and host expert-led, or NED/Chair-led sessions to inform, share experiences and facilitate co-operation.
All Chapters have signed up to our Charter, and commit to upholding the values of the CGI.
Mobilizing NEDs is an opportunity to fill a void in addressing climate change effectively.
The focus on Chairs and NEDs – the defining feature of the CGI’s approach – is founded on their:
- Role: Chairs and NEDs have an essential role in stewarding companies for sustainable long-term success and consequently are the ultimate decision makers on the direction of the company’s strategy.
- Broad reach: NEDs often sit on multiple boards and can have a major impact on multiple companies’ decisions.
- Limited extent to which they have command of this subject: Other climate change initiatives focus on the management and CEO. The CGI is the only platform to offer a structured and holistic approach enabling Chairs and NEDs to address the challenges of a transition to a net-zero carbon economy from a corporate governance perspective.
- Connection between Investors and Management: Being elected by investors, NEDs are the cornerstone of corporate governance. With an increasing demand from the investor community for companies to define a path towards successful business models in a net-zero carbon economy (investors are threatening to vote against directors of companies with no transition plan), NEDs need to be committed and have resources and knowledge targeted at their fiduciary duty to effectively work with management on this challenge.
A critical mass of boards with effective climate governance is essential to the net-zero transition and achieving the goals of the Paris Agreement.
The CGI Chapters will enable NEDs to:
- Bring the necessary awareness, skills and ownership at board level of effective strategic response to the challenge facing their companies’ long-term business prospects.
- Gain a board-level understanding of current mandatory and voluntary standards related to identifying, managing and mitigating climate risks; defining appropriate metrics and targets over the short, medium and long term; and financial reporting, including the recommendations of the Task Force on Climate-Related Financial Reporting (TCFD).
- Understand how climate factors inform investment decision-making, consistent with the delivery of their companies’ climate transition strategy over the near, medium and long term.
- Understand how the executive remuneration policy incorporates climate-related Key Performance Indicators (“KPIs”) that are aligned with interim milestones on the pathway to delivering their companies’ climate transition strategy.
- Align their companies’ public policy positioning, so as to ensure consistency with their long-term climate transition strategy.
- Contribute an informed, independent, “outside-in” perspective into the boardroom to help inform and enrich debate and complement the internal expertise of management.
Members of the CGI Community work collaboratively with each other within respective countries as well as across borders to share knowledge and promote the adoption of effective climate governance on corporate boards.
NED members of Chapters 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.
Subject matter experts and commercial partners commit to support the CGI with their knowledge and capacity of mobilization of other leaders, as well as to regularly participate in activities organized by the CGI.
The CGI is overseen by a Governing Board which consists of four elected Chapter representatives, a World Economic Forum representative, a Senior Advisor and the Head of the Secretariat as an ex-officio member. Each member of the Governing Board brings a wealth of knowledge and experience of boardroom best practise and is committed to promoting effective climate governance in boardrooms globally.
The secretariat is hosted by the Centre for Climate Engagement, which is based at Hughes Hall, University of Cambridge in collaboration with the World Economic Forum. The secretariat has the responsibility of coordinating collaborative efforts among Chapters to advance the CGI’s strategy in addition to supporting the Governing Board.
Our Governing Board
Chairman of the Climate Governance Initiative.
Karina serves on the boards of Italian Oil & Gas major Eni S.p.A., where she chairs the Sustainability & Scenarios Committee, and serves on the Remuneration Committee; Viridor Waste Management Limited, a KKR portfolio company, where she chairs the Board Sustainability Committee; the CFA Institute, home of the professional qualification for investment management professionals, where she chairs the ESG Working Group of the Investment Sub-Committee and serves on the Governance Committee.
Since CoP21 in 2015, Karina has worked to build a global network for fellow board directors that became the Climate Governance Initiative (CGI), home of the World Economic Forum’s Principles for Effective Climate Governance, where she chairs the Governing Board.
Previously, Karina had a 25-year career in Finance, latterly running the Governance and Sustainable Investment activities of UK asset manager F&C Investments*.
* now BMO Global Asset Management, a unit of the Bank of Montreal
Head, Climate Action, World Economic Forum
BA (Hons) in Economics, University of Toronto; Master’s in Environmental Planning, Policy and Regulation, London School of Economics. Formerly: Deputy Director, Energy and Climate, World Business Council for Sustainable Development, Geneva; worked in Bhutan as an adviser on environment and clean energy programmes and at the International Energy Agency (IEA), responsible for IEA’s work on monitoring and evaluating clean energy policy and deployment progress as input to the Clean Energy Ministerial and G-20 processes. Currently, Head of the Circular Economy Initiative, World Economic Forum. 2006, selected for the Young Canadian Leaders for a Sustainable Future programme, International Institute for Sustainable Development.
Chair and Founder, Chapter Zero
Julie Baddeley has served on the boards of major organisations in the public and private sectors for more than 20 years. She is a non-executive director at FTSE 250 company TI Fluid Systems, which is in the forefront of the transition to electric vehicles, Remuneration Committee Chair at Ebiquity plc, and Senior Independent Director of Marshall of Cambridge. She is also Co-Director of the Hughes Hall Centre for Climate Engagement, at the University of Cambridge.
Julie is leading a series of initiatives with investors, academics and advisors to help chairs and non-executive directors recognise the challenge of climate change to their businesses, and their business’ impacts on global warming. Her background was in change management consulting with Accenture, and she sees delivering a zero carbon economy as the biggest challenge for business in her lifetime.
Chair, Chapter Zero Italy
Sabrina Bruno is full professor of comparative company law at University of Calabria and Luiss G. Carli and has served as non-executive director in Italian banks and in an energy listed company since 2012. She is currently non-executive director at Carige Bank (where she is member of the Remuneration Committee and of the Nomination, Governance and Sustainability Committee) and Chairman of the Supervisory Board at Lux Vide S.p.a. She is the author of two monographs and several articles and chapters published on Italian and international editions on corporate governance, sustainability, directors’ duties and liabilities with particular reference to climate change. She obtained an M.Litt. Degree from Oxford University (1990-1993) and was Fulbright Visiting Scholar at Harvard Law School (2010) and Visiting Scholar at Stanford Law School (2019).
Chair and Co-founder, Boards Impact Forum, the Nordics Chapter
Liselotte Engstam is a Chair at FCG Group (priv), a Non-Executive Director at TietoEvry(publ), Transtema(publ), Zalaris(publ), Ografy(priv) and at the academic foundation IMIT.
Engstam is the founder of Digoshen, a Think Tank hosting board membership networks and programs, is an affiliated academic researcher in board topics, and co-author of several books about boards.
She has a background from international executive leadership positions in major European, American, and Indian companies in technology, engineering, and professional services sectors. Engstam holds an M.Sc. in Engineering and Sustainability from Chalmers University of Technology, an international board certification (IDP-C) from INSEAD, is a Fellow at the Institute of Coaching, Harvard Medical School, and was appointed one of 2021 Modern Governance Top 100 in the world.
Board and Executive Committee member, Chapter Zero Chile
Luksic Fellow at Harvard’s David Rockefeller Center for Latin American Studies (DRCLAS) in Cambridge, Massachusetts, and senior international consultant at the inter-American Development Bank (IADB).
Former Managing Director of InvestChile, the country’s foreign investment promotion agency; former head of trade and investment policy at the World Economic Forum, where he was also a member of the B20. Served at the Ministry of Foreign Affairs of Chile, including as Trans-Pacific Partnership (TPP) lead negotiator on trade and environment, and at the UNFCCC’s COPs. He holds masters of Laws and in Public Administration from Harvard, and is a Chilean and a Swiss national.
Cristián serves on the boards of Start-Up Chile – the leading start-up accelerator in Latin America –, Chapter Zero Chile, and the Climate Governance Initiative, where he chairs the governance committee.
Head of the Secretariat
Emily Farnworth is Co-Director of the Centre for Climate Engagement at Hughes Hall, University of Cambridge. She has over 25 years of experience working with businesses, governments and non-profit organizations to support the transition to a low-carbon economy. She was previously the Head of Climate Initiatives at the World Economic Forum where she was involved in setting up the Climate Governance Initiative (now hosted at the Centre for Climate Engagement), the Alliance of CEO Climate Leaders, the Mission Possible Partnership and the Natural Climate Solutions Alliance. She is chair of the RE100 Advisory Committee, a member of the Carbon Pricing Leadership Coalition Advisory Group and a member of the We Mean Business Grants Advisory Committee. She is also a member of the University of Cambridge Sustainability Committee. Emily holds a Masters in Environmental Science, Management and Law from Brunel University London.
Networks in 21 countries worldwide
There are currently 17 Chapters, in:
- The Nordic countries
Other chapters in development include:
- Central America
- Hong Kong
Some of the host organizations of local chapters have an extensive membership of NEDs, for example:
Join a chapter
If you would like to join a chapter, please use the Twitter, Linkedin and website links on our chapters page to make contact with your local chapter.