CCLI Australian convenor Sarah Barker and advisory board member Dr John Purcell featured in an INTHEBLACK article on the increasingly tough scrutiny company directors face over how they recognise and account for climate change risk.
Legal expert Barker explains that it’s a matter of directors’ duties: “The point is that politics is becoming less and less relevant because of a market shift toward material and financial risk, rather than environmental risk.”
Dr Purcell, policy adviser for environmental, social and corporate governance at CPA Australia, agrees. “The expectation on directors related to disclosure is clear,” he says. “If you are building a large infrastructure project in a warming world with equivalent rises in sea level and extreme weather events, you have to adequately adjust to foresee that risk.”