Women in Climate Tech (WiCT) has announced the launch of the TCFDW program with the goal to create a toolkit for use by business and government to assess:
- Improving investor understanding of the connection of climate change and gender equity through enhanced disclosure;
- The risks facing net-zero and resilience commitments resulting from gender inequity at all levels; and
- Opportunities arising from addressing this inequity and the solutions to address climate change.
Asset owners and managers have highlighted the importance of women in corporate boards and leadership positions to improve the financial performance of companies. The 30 Percent Club points to “studies in behavioural economics highlighting men and women’s different attitudes to risk, and economic principles more generally.” Beyond profitability, companies with gender diverse boards are also better able to manage sustainability risks, including climate change. The same risk management behaviors that support financial gains are important to mitigating climate-induced risks.
Research shows that investing in women and girls results in actual reduction of carbon emissions, and also suggests that gender equity is a climate solutions multiplier that can enhance the effectiveness of all climate solutions.
“Equity is a climate ‘unicorn,’ amplifying resilience and the effectiveness of virtually every effort,” said Helen Bertelli, co-founder of Women in Climate Tech and President of Benecomms. “As companies and governments around the world embark on climate risk and opportunity analysis and reporting, why would we not want to bake equity into this work?”
“While women make up the majority of heads of households in many areas (including island nations where climate change may hit hardest), women-led households tend to be poorer than male-led. This is true around the world, including in the United States,” said Lisa Veliz Waweru, co-founder of Women in Climate Tech and Director of Customer Success at The Climate Service. “This negatively impacts the resilience and strength of communities, businesses, and economies worldwide.”
“Compelling research shows the significant business benefits of gender equity to becoming future ready; that more women in leadership make a business more successful, profitable, and innovative” said Emily Wasley, Practice Leader, Corporate Climate Risk, Adaptation, and Resilience, WSP USA, and Women in Climate Tech Steering Committee Member. “We believe this will be true of net zero efforts, and that gender equity must be an integral part of climate risk and opportunity assessments.”
“As our company begins our own TCFD reporting journey, I am pleased to be part of the TCFDW program because it will augment our climate risk work, and help to ensure our company’s participation in a just transition,” said Cris Banahan, TransUnion Global Director of Sustainability & Citizenship.
Work on the TCFDW program has already begun and will progress over the summer, culminating in a presentation of the toolkit and key findings at The Nest Summit during New York’s Climate Week. Subscribe to the Women in Climate Tech email to learn more and stay abreast of our updates.