America has pledged $53 million for developing countries. (Photo by: Universal Archive/Universal Images Group via Getty Images)
South African business leaders have launched Chapter Zero Southern Africa — an organisation that aims to confront the challenges of climate change globally — developed in collaboration with the World Economic Forum (WEF).
As the 29th chapter of the UK-based non-profit organisation, Chapter Zero, it seeks to mobilise business leaders in the region by connecting directors with a global and national network of peers to share knowledge and promote climate governance in the boardroom.
Chapter Zero Southern Africa chief executive Carolynn Chalmers said at the launch in Johannesburg this week that the goal was to train boards on climate strategy, reporting on climate change issues, regulations and target setting, to translate organisations’ climate ambitions into action.
Chalmers said the new chapter aimed to connect members in Southern Africa to a network of more than 100 000 non-executive directors across 58 countries. It aims to reach 500 companies in the region within three years.
“The next three years are critical in business response to climate change. The 2021 Intergovernmental Panel on Climate Change report flagged a ‘code red’ for humanity. It warned that emissions globally needed to be halved by 2030 to ensure average temperature increase does not exceed 1.5°C by 2050,” Chalmers said.
Chapter Zero Southern Africa chairperson Maurice Radebe said the move was a fitting response to a call by the WEF and the Climate Governance Initiative to mobilise boards for climate action.
“The business community must act now, transitioning from pledges to action. Boards are uniquely positioned to steer business climate action. They should ask the right questions and provide robust solutions for the long-term resilience of the organisations they lead,” Radebe said.
Chapter Zero Southern Africa’s founding directors and patrons include Bonang Mohale, president of Business Unity South Africa; Futhi Mtoba, the deputy chairperson of the Public Investment Corporation, as well as Khumo Shuenyane, Kuseni Dlamini, Phumzile Langeni, Nyimpini Mabunda and Norman Mbazima.
Radebe urged the private sector to act with speed to secure a sustainable future for the planet.
“Climate change is an emergency and transitioning business climate ambition into climate action is a strategic imperative for innovative organisations,” he said.
Chapter Zero was developed with the support of the Hughes Hall Centre for Climate Engagement, University of Cambridge, in 2019. It was established by a group of non-executive directors who recognised that they have a role in making sure their businesses respond to the risks and opportunities created by climate change.
The organisation aims to encourage executive and non-executive directors to partner to ensure fossil fuel carbon emissions are halved by 2030.