Director's Masterclass Series: Session 2-6: What Directors Must Know about Recent Developments in Climate Science

On 15th May 2024, the second event of the Climate Governance 2024 Masterclass Series, hosted by Serina Hijjas, delved into the latest developments, discoveries, and insights into the science of climate change. In collaboration with the Fide Forum and the Asia School of Business, the event aimed to elevate proficiency of corporate directors in identifying material scientific observations and discoveries in the field of climate change, and the links to current and emerging national and international governance initiatives.

Dr. Gary Theseira highlighted natural phenomena affecting global temperatures, including the global carbon budget, El Niño impacts, and the progressive loss of Arctic ice. His presentation underscored the urgent need to address climate change and understand how foreseeable climatological and geological events are shaping the climate and our future on the planet.

The meeting explored scientific concepts like ocean currents, feedback mechanisms related to melting sea ice, and that impact of Greenland's changing landscape, given recent discoveries of ice-free summers in the northern reaches of Greenland as recently as 416,000 years ago. Both anticipated and unanticipated effects of Volcanic eruptions on global temperatures were discussed, current controversies on climate sensitivity, alongside the importance of incorporating resilience strategies into decision-making processes. The session highlighted current collaborative efforts aimed at understanding and adapting to a changing climate landscape, emphasizing scientific inquiry, nature-based solutions, and the need for governments to invest in resilience measures, given the increasing frequency and intensity of extreme weather events.

Dr. Theseira explained how climate science and global carbon budget considerations provided critical information for sustainability planning and emphasized the need for accurate data and the importance of understanding the implications for resilience and sustainability. In turn, the corporate directors in attendance interacted freely with the presenter, posing questions, and sharing and exchanging experiences. At the close of the event, they were invited to provide feedback to facilitate the continued improvement of the sessions.

The Climate Governance 2024 Masterclass Series aims to provide corporate directors with insights into global environmental issues, stressing the importance of strategic planning and adaptation to advance and prosper in a rapidly changing climate landscape. This session emphasized the need for continued scientific inquiry, and clarity in understanding the implications of our research and systematic observation. Strong Corporate Governance and Sustainability Strategies should underpin the swift identification and implementation of solutions, including nature-based solutions, to strengthen resilience and improve overall corporate performance.

Click here for the recordings and slides