Thursday, October 6, 2016, 9:30 AM to 1:00 PM

@Gore Recital Hall, University of Delaware : 

​Global investors are growing increasingly aware of the risks and opportunities associated with climate change and its potential implications for the value of their investments over the long term. Following the COP21 Paris Climate Accord, a number of institutional investors, concerned about portfolio risks, are focusing on board-level responses to climate change and have established policies calling for“climate-competent” boards and directors.We invite you to a round table discussion on the expectations of large investors, and how boards might respond to calls for increased “climate competency.” Issues to be discussed include: What does “climate competency” mean? Should boards add a director with specialized “climate competency” skills or can a board properly oversee climate risk with outside expertise and board education? What should the role of the full board and/or specific board committees,such as the audit, risk, sustainability, compensation and governance committees, be with regard to the oversight of climate risk issues? Should corporate sustainability reports and scenario analysis be reviewed at the board level? Do the responses to the above issues change in more carbon intensive industries? Other issues to be addressed include: How should board members best oversee the impact of climate change on the company’s long-term strategic plan? What is the board’s role with respect to climate risk disclosures to investors?What is the board’s role with regard to engagement with shareholders?We look forward to a productive and engaging discussion regarding board “climate competency” from various perspectives.

ROUNDTABLE PARTICIPANTS:

  • Stephen L. Brown, Senior Advisor, KPMG Board Leadership Center
  • Michelle Edkins, Managing Director and Global Head of Investment Stewardship, BlackRock
  • Richard C. Ferlauto, Member of the Governing Board, 50/50 Climate Project
  • Michael I. Garland, Assistant Comptroller for Corporate Governance and Responsible Investment, Office of the New York City Comptroller
  • Rakhi Kumar, Head of Corporate Governance, State Street Global Advisors
  • Sophie L’Helias, President, LeaderXXchange; Co-Founder, International Governance Network (ICGN); Director, Kering
  • Jon Lukomnik, Executive Director, IRRC Institute
  • Patrick McGurn, Special Counsel and Head of Strategic Research and Analysis, Institutional Shareholder Services (ISS)
  • Travis Norton, Executive Director, U.S. Chamber Center for Capital Markets Competitiveness
  • Veena Ramani, Senior Director, Corporate Programs, Ceres
  • Paul E. Rowsey, III, President and CEO, Compatriot Capital; Chairman of the Board, Ensco plc; Lead Director, KDC Holdings LLC, JBL Partners LLC, Village Green Consolidated, E2M Partners, LLC; and Director, Powdr Corporation
  • The Honorable Joseph R. Slights III, Vice Chancellor, Delaware Court of Chancery 

Moderator:  Charles M. Elson, Edgar S. Woolard, Jr., Chair of Corporate Governance, D­­irector of the John L. Weinberg Center for Corporate Governance, and Professor of Finance

DE CLE credits will be provided. CPE credits will be provided by our event partner, Sallie Mae. There is no charge for the program, which includes a complimentary lunch.

To Register go to: https://wccg-climate2016.eventbrite.com

Invitation

Udaily Pre-Event Article

Program Materials (12):

1.      Establishing a Climate-Competent Board, Richard Ferlauto, NACD Directorship Magazine, November/December 2015

2.      Investors Push for climate-competent boards, Richard Ferlauto, Corporate Secretary,  May 31, 2016  

3.      Building climate competency into corporate governance structure, Richard Ferlauto, Corporate Secretary,  August 24, 2016  

4.      A practical guide to help boards become more climate competent, Richard Ferlauto, Corporate Secretary,  September 13, 2016 (third in a series of three)  

5.      Companies Might Have to Disclose Their Carbon-Related Risks, Wall Street Journal, September 13, 2016 

6.      Climate Change Risk Oversight Framework For Directors, Rakhi Kumar, Head of Corporate Governance and Michael Younis, ESG Analyst, State Street Global Advisors, March 14, 2016 

7.      The Top 25 U.S. Electric Utilities: Climate Change, Corporate Governance and Politics(IRRC-SI2 webinar slides) 

8.     View from the Top, Veena Ramani, Ceres, October 2015 

9.      Adapting portfolios to climate change, BlackRock Investment Institute, Global Insights, September 2016  

10.Viewpoint – Exploring ESG:  A Practitioner’s Perspective, BlackRock, June 2016

11. SEC Investigating Exxon on Valuing of Assets, Accounting Practices, Bradley Olson and Aruna Viswanatha, Wall Street Journal, September 20, 2016

12.    Exxon Mobil directors, Excerpt from the  2016 Proxy Statement

CII Alert (Post-Event) – “Weinberg Center Roundtable Elevates Climate Competence at the Board level” (membership required)

“Climate Change and the corporate board: Too hot not to handle?” and “Panel on climate risk: It’s real, it’s material, it’s a board issue,” Directors & Boards, First Quarter 2017