LinkedIn Updates
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OpenEngagement was mandated by the Australasian Centre for Corporate Responsibility to produce a research report determining the presence of Climate and Energy Transition skills on the Boards of major resources companies.
The report, which focuses on Glencore, includes a benchmarking analysis of board governance practices across several leading natural resources companies. High level findings are below:
Board-level climate expertise remains limited across the sector, with few directors having verifiable experience in climate risk or energy transition.
Sustainability committees often have unclear mandates and limited evidence of climate-specific oversight.
Executive remuneration frameworks frequently reference ESG goals, but lack transparency and rigour in how climate-related performance is measured or rewarded.
Skills matrices are inconsistently applied, with vague definitions and limited linkage to individual directors’ qualifications or responsibilities.
Overreliance on management for climate strategy and reporting is common, raising questions about the ability of Non-Executives to challenge management.
Read the full report here