Climate, sustainability and responsibility – these are the topics boards of directors, company owners and managing directors need to consider more and more.

Everything starts with the board. Board members need to find a common ground and prioritize climate topic on the agenda. The board should discuss what climate topic mean for the company and identify key trigger points for change. The more the chairman of the board raises climate issues in the discussion, the better.

SME Climate Hub can be a helpful tool to measure firm’s emissions and understand the free tools available to reduce them.

The importance of education in climate topics cannot be underestimated. Climate education should include scenario work and active participation in different networks. Attending networks is valuable because it allows sharing of information and best practices.

Once the climate topic is integrated into the strategy, ambitious goals should be set. There should be a clarity within the firm regarding roles, including the roles of the board and management. Should a new sustainability committee be established?

As the strategy is formed, the board should consider where they want the firm to be in 2030 and 2040, and establish key metrics based on these goals. Businesses should not simply wait for legislation to drive their climate efforts, but instead establish their own key metrics.

For small companies, it can be challenging to address the climate topic on their own. For this reason, companies should take time to work with their suppliers on climate topics. Companies should take time to work with their suppliers to assess their commitment to climate action and determine what they can do together.

“We are experiencing a complex system change where the climate topic is very important.” – Liselotte Hägertz Engstam

Liselotte Hägertz Engstam, MSc in Engineering and Sustainability, is the founder and chair of the Boards Impact Forum, and a member of the global board of the World Economic Forums’ Climate Governance Initiative. In the record below, she shares tools and tips on how companies can success in an uncertain and fast-changing world where the climate topic is very important.

The article is based on Liselotte Hägertz Engstam’s material presented at the Boardman Morning Studio 9.2.2023. ”Boardman Morning Studio” is a concept implemented by ”Responsibility on the Agenda of the Board and Management” -development group. It organises webinars which discuss how responsibility can be made as a differentiating factor and competitive advantage for companies and public entities. All events are free, but registration is required.