There is limited research, both in Australia and internationally, exploring how boards approach climate governance, its risks and opportunities.

To understand director views on climate governance, the AICD, as host of Climate Governance Initiative Australia, conducted a member survey , as well as targeted interviews with senior non-executive directors.

This study reveals that Australian boards see climate change as a key strategic and risk issue, but face capacity and resource constraints in responding to the challenge. The results also reflect the varying levels of focus and maturity of governance approaches across Australian boards.

Key findings:

• Australian directors are concerned about climate change risks for their organisations.
• Directors want to do more – but face capacity and resource limitations.
• Policy uncertainty and short-term market pressures are seen to constrain action.
• Climate change is on the agenda – but risk and governance maturity is low.