Climate Governance: Equipping Corporate Boards to Mitigate Climate Risks and Seize Climate Opportunities

Year Published

2023

Contributing Organizations

World Bank Group (WBG)

International Finance Corporation (IFC)

Type of Resource

Guidance

Languages

English

Relevant Topics

Core Topic

Organizational Change & Leadership

Topic 2

Risks & Opportunities: The Business Case

Topic 3

Risk Management

Target Audience

All

Relevant Geography

Asia & the Pacific

Resource Description

This resource provides guidance for corporate boards to oversee climate risks and opportunities, using IFC’s Corporate Governance Methodology. It presents a progression matrix across six governance areas and four levels of achievement.

Why This Matters

Boards are increasingly expected to lead on climate risk oversight and align governance with long-term sustainability and stakeholder expectations.

Key Insights

Identifies five drivers of climate governance, including investor pressure, regulation, and litigation
Advises integrating climate into board structure, risk management, controls, compliance, and incentives
Details disclosure practices: GHG emissions, net-zero targets, scenario analysis, and assurance
Encourages board engagement with shareholders and stakeholders on climate issues
Includes case studies (eg Nedbank, Thailand) on climate governance implementation

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