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ARTICLE · 19 FEBRUARY 2024

CGI Sample Terms Of Reference For Board ESG/sustainability Committees

Herbert Smith Freehills Kramer LLP
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The Chartered Governance Institute (CGI – formerly known as ICSA) has published sample terms of reference for board ESG/sustainability committees.

United KingdomCorporate/Commercial Law
Silke Goldberg
Silke Goldberg
Sarah Hawes
Sarah Hawes
Gavin Williams
Gavin Williams

The Chartered Governance Institute (CGI – formerly known as ICSA) has published sample terms of reference for board ESG/sustainability committees. The terms of reference can be downloaded from the members' section of the CGI website.

Companies are not required to have an ESG committee at board level under the UK Corporate Governance Code (nor will it be a requirement to have one under the 2024 Governance Code, which will apply to financial years beginning on or after 1 January 2025). However, the CGI has observed that a number of listed companies have formed ESG committees, with over 35% of the UK's 150 largest listed companies having a board committee specifically for ESG-related matters as of April 2023, according to data cited by the CGI.

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