and ESG reporting issues. Corporate
counsel can best serve their clients by
staying involved, commenting on and
leading the development of any new
rules, and understanding where legal
risks and opportunities exist. ACC
Five steps to advising your CEO and BOD on
climate change related risks and opportunities
1. Establish a process to vet climate-related statements made on
company websites or through social medial platforms as thoroughly
as the company would vet financial related disclosures.
2. Identify and monitor what climate related risks and opportunities
your company’s peers are disclosing, and where they are
disclosing this information. Be prepared for investors, NGOs,
and others to compare your disclosures to your competitors.
3. Review the climate risk disclosure framework recommended by the
Financial Stability Board’s Task Force on Climate Related Financial
Disclosures and determine if adopting any of the recommendations
would benefit the company and increase its long term competitiveness.
The final report is available at www.fsb-tcfd.org/publications.
4. Consider using the services of sustainability consultants to better
identify, measure, and report climate risks and opportunities.
Senior management teams could use the results of these surveys
to set targets to mitigate or reduce environmental impacts as
part of long-term strategic planning and reports to investors,
NGOs, and customers on the progress against the targets.
5. Consider obtaining advice on selecting a suitable method and format
of reporting that is relatively transparent and recognizable.
32 ASSOCIATION OF CORPORATE COUNSEL
WAN T MORE ARTICLES LIKE THIS? VISIT US ONLINE AT WWW.ACCDOCKET.COM.
ACC EXTRAS ON…Climate disclosure
Volkswagen Scandal Reveals Consumer
Concern for Authentic Sustainability
Corporate Buyers — Influencing Change
in Renewable Energy (Nov. 2015).
Top Ten Energy & Environmental Claims: A
Mostly-Common-Law Menu (April 2014).
Customs Provisions in International Business
Agreements (May 2015). www.acc.com/
Phase I Environmental Site Assessments:
What are they and why do we do them?
(Oct. 2014). www.acc.com/legalresources/
Energy and Natural Resources Multi-Jurisdictional Guide (Dec. 2014).
ACC HAS MORE MATERIAL ON THIS SUBJECT
ON OUR WEBSITE. VISIT WWW.ACC.COM,
WHERE YOU CAN BROWSE OUR RESOURCES BY
PRACTICE AREA OR SEARCH BY KEYWORD.