Further information
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Next Steps
The Management Board (the Board) is Clyde & Co’s most senior governance body and has oversight of climate-related risks. The Board comprises elected Member Partner and its authority is determined by the Members’ Agreement between Clyde & Co LLP and each Member Partner who accedes to the firm upon joining or being promoted to partnership. Climate-related risks and climate strategy are discussed at least every six months. As the Firm’s climate strategy accelerates, there are now three delegated bodies of the Board with responsibilities related to climate-related risk. The Environmental Sustainability and Biodiversity Steering Group (ES&B) is a delegated body of the Board and is responsible for addressing climate and other environmental risks and opportunities. The ES&B comprises partners who represent each of our regional operations as well as our Chief Sustainability Officer (CSO), who is tasked with our ESG strategy. The ES&B monitors the progress of our climate strategy and reports to the Board on a six-monthly basis. The Board delegates day-to-day responsibility to the ES&B for:
The Executive Committee (ExCo) is the third delegated body of the Board with oversight of climate-related risk. This committee executes the agreed operational strategy in conjunction with Regional Boards. The committee includes Regional Board Chairs, Regional Chief Operating Officers and Global Senior Management. ExCo’s role in managing climate risk is to identify our climate related risk and opportunities and to gauge their materiality and operational impacts in the short medium and longer term. To facilitate knowledge sharing, Management Board member partner representatives sit on each of ES&B, ARC and ExCo. These representatives are responsible for communicating climate-related updates to the Board. This enhances the Board’s understanding of – and involvement in – discussing climate-related risks. The work of these committees to mitigate climate-related risks, pursue our Net Zero strategy and build the firm’s resilience is underpinned by the Global Environmental Sustainability Policy. This policy is reviewed annually by the ES&B on behalf of the Board.
• Embedding our Net Zero strategy throughout the Firm, delivering on the strategy, and ensuring there is the investment required to do so • Mitigating and managing climate-related risks and capturing climate-related opportunities, developing regional and global programmes • Developing a rigorous engagement programme with suppliers and clients to address climate-related risks and opportunities in the value chain • Building the climate resilience of our Firm The Audit and Risk Committee (ARC) is another delegated body of the Board. The committee oversees the identification, management, and mitigation of the 12 global principal risks for our Firm. Since climate and ESG-related risk is designated a principal risk, each climate-related risk is included in regular reviews and reported to the Board. The CSO is the owner of climate- related risk and ensures that the ARC is kept informed on a quarterly basis and involved in management of this risk category.
• Monitor the implementation and performance of business plans and strategies which consider climate-related issues • Continue to keep the TCFD recommendations in mind as the organisational structure evolves and is formalised
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