The Climate Governance Initiative, an initiative in collaboration with the World Economic Forum driving board director climate capacity, has released four business case studies with a focus on the role of board directors.
The case studies highlight the climate and sustainability commitments, strategies and activities of four organisations operating in Brazil, Ireland, the Philippines and the UK. Developed with contributions from each organisation, the case studies provide an overview of:
- The governance approaches and processes applied, including objective-setting, investment strategies, integration of reporting, executive compensation, offsetting and more
- The areas for impact the organisations are prioritising to deliver on their commitments
- How different organisations, with different supply chains, requirements and customer bases, are responding to tackle climate change
- The vital role boards play in balancing good business sense with ambitious climate action
The organisations featured in the series of case studies are:
- British Land, a FTSE100 property company that creates, owns and manages a diverse real estate portfolio across the UK
- Metro Pacific Investments Corporation (MPIC), a Philippines-based investment holding company with subsidiaries providing water, sanitation, real estate, healthcare, light rail, logistics and infrastructure
- Natura &Co, a Brazilian cosmetics group operating in more than 100 countries, with brands including Avon, Natura, The Body Shop and Aesop. It is the world’s largest B Corp
- Smurfit Kappa, a FTSE100 company that is one of the leading providers of paper-based packing in the world. Headquartered in Dublin, Ireland, Smurfit Kappa operates in more than 30 countries
The subjects for the case studies were all winning, highly commended or shortlisted entries in the 2022 edition of the Finance for the Future Awards, organised by the Institute of Chartered Accountants in England and Wales (ICAEW). Julie Baddeley, Chair at Chapter Zero, the UK Chapter of the Climate Governance Initiative’s global network and Member of the Governing Board at the Climate Governance Initiative, was on the judging panel for the awards for the fourth year running.
Commenting on the importance of the board’s role, Ken Bowles, Group Chief Financial Officer at Smurfit Kappa said:
“We understand that sustainability is a crucial element of responsible business practice and we take our responsibility as a purpose-driven company to drive positive change seriously. As such, our Board plays an important role in leading the change towards a more sustainable future through its strong oversight, ensuring the Group is adhering to our sustainability commitments and making progress in achieving our Better Planet 2050 targets.”
Bhavesh Mistry, Chief Financial Officer at British Land, was keen to highlight the leadership shown by the board:
“Whilst ultimate responsibility for our 2030 sustainability strategy sits at Board level, everyone across our business is tasked with supporting the delivery of our sustainability strategy pillars: Greener Spaces, Thriving Places and Responsible Choices. Our customers, partners and investors are increasingly focused on sustainable practices in their decision making, therefore it’s essential we respond by ensuring our own actions stand up to scrutiny and are environmentally and socially sound.”
Read the full series of case studies
About the Climate Governance Initiative
The Climate Governance Initiative mobilises boards of directors around the world to address climate change in their businesses. We do this by developing and supporting national associations that equip their members with the skills and knowledge needed to make climate a boardroom priority, building on the World Economic Forum’s Principles for Effective Climate Governance.
Jack Cooper | Communications Manager | Climate Governance Initiative