In this piece: “Climate Disclosure and the Role of the Board” (p 16), Marsh McClennan’s Lloyd Yates (board ESG Committee chair) and Katherine Brennan (Deputy General Counsel, Corporate Secretary & Chief Compliance Officer, and Society member) share their seasoned insights on ways in which the board may structure its climate disclosure oversight responsibilities and evaluate management’s approach to identifying, assessing, managing, and disclosing material risks based on the TCFD framework, which the company signed onto in 2020. Marsh includes two instructive exhibits that tie (but are not limited in application) to the TCFD disclosure recommendations – one illustrating the allocation of responsibilities across the board and its standing committees, and the other illustrating a diagnostic framework, which may be equally beneficial for management and the board.
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This post first appeared in the weekly Society Alert!