Global Summit 2021

March 2021

Climate change is on the global agenda like never before. Before the Covid-19 pandemic shook the world, we knew that our ways of doing business were unsustainable but it took society grinding to a halt for us to see how imperative it is for companies to collaborate, innovate and adapt to a more sustainable future.

In March 2021, the Climate Governance Initiative hosted its Global Summit – bringing together business leaders, financial experts and academics to discuss the ways in which company boards can push for climate action. Over the five days, a range of speakers shared  ideas for, and experiences in, decarbonising business and the ways in which everyone from non-executive directors, to CEOs, to employees can be engaged in the collective fight against global warming.

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Read the session summaries from the Global Summit 2021 as categorised by the World Economic Forum’s principles for effective climate governance:

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Climate Accountability

The board should take responsibility for ensuring the company’s long-term resilience to climate risks.

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Subject Command

The board should be properly informed about climate-related risks and opportunities and able to make relevant decisions.

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Board Structure

The board should implement the right board and committee structures to ensure that climate risks and opportunities are understood, managed and reported.

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Materiality Assessment

The board should ensure that management fully identifies climate-related risks in the short, medium and long-term, assess their materiality, and  takes appropriate action according to the materiality of the risks.

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Strategic Integration

The board should ensure that management factors material climate-related risks and opportunities into the company’s strategy, risk management process and investment decisions.



The board should align executives’ incentives with the long-term success of the business. This may include climate-related targets in executive incentive schemes.

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Reporting and Disclosure

The board should ensure that the company discloses its material climate-related risks, opportunities and strategic decisions to all stakeholders – especially investors and regulators. These disclosures should be included in financial reporting.



The board should stay informed on current best practice in climate governance by maintaining dialogue with peers, policy-makers, investors and others.