This first issue of the Deloitte Global Boardroom Program’s new series, The Audit Committee Frontier, seeks to answer the question: What are leading practices for Audit Committees with respect to climate?

The report features findings from a survey of over 350 audit committee members spanning 40 countries, and revealed several obstacles standing in the way towards progress, each of which point to a broader sense of uncertainty surrounding climate and sustainability in the boardroom and companies at large. The report also details potential solutions for audit committees struggling to help their organisations address climate change.

In addition, The Audit Committee Frontier: Addressing climate change, brings together insights from Deloitte climate and sustainability specialists, as well as a collection of interviews with regulators, investors, and audit committee members.

Key highlights:

• Most audit committees worldwide do not discuss climate on a regular basis, barely half consider themselves “climate literate,” and half do not believe they are well equipped to fulfill their climate regulatory responsibilities
• Forty-two percent of respondents say they are disappointed in the strength and speed of their organisation’s climate response, and 65% say their companies lack a clear strategy on climate