Last weekend’s European elections were impressive: Climate change is currently the key issue. In Germany, but also in other Western European countries, green parties have grown strongly. This will have concrete consequences for the economy. New targets for carbon dioxide emissions are likely to come sooner – and possibly be stricter. In addition, the “EU Action Plan for Sustainable Finance” currently under discussion in Brussels could provide investors with even more concrete guidance.
Climate: What questions do board members have to answer now?
Whatever supervisory boards think of individual projects: After the European elections, the issue will be high on the agenda of forthcoming committee meetings. For example, does the Executive Board know what emissions the company is causing – and can it meet the transparency requirements of shareholders? What are the risks posed by new legal requirements? Against this background, are the current reduction targets ambitious enough? If board members cannot answer such questions, the alarm bells should ring.