Primer On Climate Governance: Part I
Updated: Jan 25, 2021
We just concluded a thought provoking webinar with our very own non-executive directors speaking out about the urgent need to tackle the climate emergency. Watch the playback here.
Our moderator Datuk Seri Johan Raslan concluded by quoting Alan Jope, the Unilever chief executive, who says “climate change is the most pressing issue of our time”.
He went on to note that "Dr Kala has shown how that view is now firmly entrenched in the minds of regulators, governments, large companies and indeed our children. There is no Planet B. We and the companies under our stewardship are exposed to Climate risk. Our stakeholders trust that we are aware of the magnitude of this risk and are taking steps to manage it.
Tunku Dr Alina has introduced us all to the range of standards and regulations out there that await us and the companies under our purview. It certainly looks daunting from where I am sitting. People need to get to grips with this world.
And in our discussion with panellists Sharmila and Yu-Leng we have heard more about the role of Directors. In the past a directorship may have been like a badge of honour and risk-free. No more. We need to work harder to fulfil our fiduciary duties at this time when Climate Change is on our board and management agendas.
It is also clear to me, listening to the discussion today, that we are beyond the era of glossy show-off stuff in our annual reports and our sustainability reports. We are going to be asked difficult questions when we meet investors. The same goes in our AGMs. Stakeholders both outside and inside our companies are going to be reading what we say with a critical eye, and holding us all to account.
Share prices can go down as well as up..
It is not all doom and gloom. There are experts out there to call upon who can help. Indeed, we can help each other – not in the traditional way of denying but by getting companies and CEOs to share great practices. Sectors like SMEs may well lead the way and reap the benefits because they are nimble and unencumbered by legacy infra and thinking. Tax breaks may be available and, if not, let’s lobby for them.
And lastly, Climate Governance Malaysia is here to help. Join us and get more knowledge. Meet experts and others in your position so we do not all have to reinvent the wheel."
Read Dr Kala's keynote here.
Tunku Dr Alina has generously shared her materials, including a glossary.
Many thanks for supporting Climate Governance Malaysia!