Kantar and the Climate Governance Initiative partner to put sustainability on the agenda in the world’s boardrooms
Kantar, the world’s leading marketing data and analytics company, together with the Climate Governance Initiative (the Initiative), a global network of non-executive directors in over 70 countries, today deliver a unique view into the state of climate action in boardrooms. How can we advance climate action on boards? published today, reveals that globally, 86% of board directors regard climate transformation as a business opportunity. 9 in 10 say that the climate challenge requires new forms of leadership from boardrooms.
Based on survey responses and in-depth interviews with members of the Initiative’s network in 20 countries, the research reveals that 90% of board directors believe the board is responsible for driving the climate agenda in their organisations. Positively, the vast majority (93%) feel that they are in a position to influence their organisation’s direction on climate. The majority are also personally motivated to act, with 84% saying they are either somewhat or highly engaged with the subject.
Despite this positive outlook, concrete progress lags behind ambition. Globally, just 40% of boards are currently doing some kind of climate-related reporting and over half of board directors have no plans to publish a transition plan (56%). The biggest barriers to action for board directors are lack of prioritisation, driven by a focus on short-term thinking. This is closely followed by knowledge gaps and a lack of financial incentive.
However, positive momentum is expected to accelerate. The number of boards doing climate-related reporting is expected to rise substantially from 40% to 72% in the next year. While 57% of respondents said that the climate is central to their business strategy today, 77% believe that it will transform their business model over time. Board directors are already making progress addressing climate change through business strategy, policy and reporting.
“This research shows that 9 out of 10 board directors believe it is their role to influence how businesses respond to the climate challenge, but many are held back by a variety of factors including knowledge gaps. The Climate Governance Initiative empowers board directors to accelerate the pace of change by enhancing their knowledge and skills in climate governance. The report shows that a majority of the directors who are highly engaged with our network feel that we have helped them take action in the boardroom. This important study provides crucial insight that will help us remove barriers to progress for board directors and make a real difference to the impact that boards can make to the climate crisis.”
Alexandra Bolton, Director of the Climate Governance Initiative
Alexandra Bolton, Director of the Climate Governance Initiative“The vast majority of board directors across the world see climate as a business opportunity. But importantly, they believe that realising these opportunities will require a mindset shift. Whilst it is great to see this leadership from the top, too many companies are still failing to unlock the opportunity presented by a transition to sustainable growth. Positively, it looks like we will see an acceleration in transition planning in the near future, and I’m confident that the board members engaging with the Climate Governance Initiative’s Chapters will be leading their companies in turning intention into action for growth built on a sustainable future.”
Jonathan Hall, Managing Partner, Kantar’s Sustainable Transformation PracticeIn February 2024, the two organisations announced their partnership to accelerate the pace of sustainable transformation among businesses, which saw Kantar become Climate Governance Initiative’s 2023 impact survey partner.
Register for a webinar unpacking the findings of the survey at 1pm CEST on 16 April or click below to read the full report. To find out more about the Climate Governance Initiative or to find your local Chapter, visit https://climate-governance.org/join-a-chapter/.
Notes to editors
About the Climate Governance Initiative – The Climate Governance Initiative is a non-profit dedicated to mobilising boards to accelerate the transition to net zero and build climate resilience. We develop and support a global network that empowers and mobilises board directors on every continent to take climate action by enhancing their knowledge and skills in climate governance. We are a rapidly growing global network with Chapters in over 70 countries worldwide, reaching more than 100,000 chairs, non-executive and independent directors.
Get in touch
Esme Montgomery Friedner | Communications Manager | Climate Governance Initiative
ehm39@hughes.cam.ac.uk
About Kantar – Kantar is the world’s leading marketing data and analytics business and an indispensable brand partner to the world’s top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future. For more information, please get in touch with press@kantar.com.
About the study – Kantar conducted 29 qualitative Vision Interviews with board directors who are members of Chapters in the Climate Governance Initiative network and ran a quantitative survey of 440 people in the Initiative’s network, weighted to 270 respondents.
Slingshot