Clear roles and responsibilities → Boards are ultimately accountable for the long-term health and performance of the organizations they oversee. As climate-and nature-related risks and opportunities become more immediate and material, the responsibility of the board extends to how they are embedded into structures and processes. As this overarching accountability cannot be delegated, it is essential boards have oversight and clarity on responsibility for how climate and nature considerations are integrated into decision- making, organizational performance frameworks and incentives. This includes overseeing that responsibilities are appropriately distributed and resourced and that they are fulfilled through strategy, communication and reporting. Effective board oversight includes challenging management to demonstrate clear and comprehensive accountability for climate- and nature-related dependencies. Establishing the appropriate board structure (such as a dedicated committee and charter) may be part of the approach. Another approach is to assign responsibility to multiple committees, with separate ownership of climate- and nature-related risk, strategic integration, disclosures or incentives.14 Cross- functional groups may also support the validation of risks and opportunities and translate them into actionable targets and capital-allocation decisions.15 These structures provide important support, but the board role extends to: –Overseeing systems, strategies and policies to govern material risks and processes to identify and realize opportunities –Overseeing that incentivization aligns with broader organizational purpose, goals and risk governance, including interrogation of potentially unintended outcomes –Holding those responsible for disclosures to account for the assumptions underpinning forward-looking statements –Periodically evaluating the board’s own performance and effectiveness, supplemented by independent perspectives, to confirm that structures, processes and oversight of climate and nature remain fit for purpose Turning intent into action → Clear and consistent accountability is central to effective governance. Where roles are well defined and responsibility is widely understood and upheld, boards are better equipped to translate strategic intent into operational action. As climate and nature dynamics reshape the business environment, board structures can reinforce stewardship, innovation and adaptive leadership, positioning organizations to seize opportunities. In doing so, they enable the responsiveness, innovation and long-term value creation that define high-performing governance in an era of transformation. Guiding questions for board reflection Question 1: How effectively do we integrate climate and nature considerations into our strategic oversight and decision-making processes? Question 2: To what extent are climate and nature capabilities and responsibilities clearly defined, understood through the board skills matrix and allocated across our board committees and individual board members? Question 3: What steps are taken to ensure the consistency and credibility of information used to inform board decisions on climate and nature? Question 4: How do we ensure our governance processes adapt to capitalize on emerging climate and nature market opportunities? Question 5: How are values, expectations and accountabilities for climate and nature communicated and reinforced across the organization? Guiding questions for boards to ask of management Question 1: How are responsibilities for identifying and overseeing climate- and nature-related risks and opportunities assigned across senior management, and how are dependencies on natural resources incorporated into those responsibilities? Question 2: What systems are in place to monitor, measure and report progress on climate- and nature-related targets? Question 3: How are roles and responsibilities structured to support the integration of climate and nature into strategic planning, risk oversight and operational execution? Question 4: What steps are taken to verify the integrity, consistency and credibility of information used to inform board decisions on climate and nature, and what mechanisms are in place to enable stakeholders to raise concerns? Question 5: How is the organization meeting its legal, regulatory and stakeholder obligations related to climate and nature governance? Board Leadership for Growth and Resilience 16

Board Leadership for Growth and Resilience 2026