Executive summary For today’s boards, climate and nature represent some of the greatest opportunities for growth and renewal. They are redefining markets, driving technological innovation and influencing where investment flows. Subjects that once sat outside the boardroom are now central to business performance, resilience and value creation. While climate- and nature-related pressures are intensifying,1,2 they are also catalysing new opportunities.3 Entire sectors are being reshaped by demand for products and services that deliver both performance and sustainability. Geopolitical shifts, combined with advancements in artificial intelligence, have altered the narrative on climate and nature. Innovation and investment are flowing into solutions that create efficiency, strengthen resilience and deliver both financial and societal returns. For boards, this shift is not only about mitigating risk but about seizing the upside of the transition. Directors who understand climate and nature as drivers of change can position their organizations to lead in emerging markets, attract long-term investment and build enduring stakeholder trust. Effective governance in this realm is good for business. It signals confidence, supports resilience and equips organizations to stay competitive in a rapidly evolving environment. 1 Oversight and responsibility 1 Skills and knowledge 2 Strategy 2 Stakeholder collaboration 3 Risk and opportunity 3 Culture 4 Disclosure and transparency This guide provides a practical framework to help boards move from awareness to action. It sets out four guiding principles: Together, they are designed to integrate climate and nature into governance as enduring sources of resilience and advantage. These principles rest on three essential foundations: Skills and knowledge are strengthened through intentional learning and direct experience, such as site visits that allow board members to witness first-hand how climate and nature affect assets, ecosystems and communities. Stakeholder collaboration brings foresight and collective momentum towards a specific goal, such as working across industries to accelerate renewable energy connections, collectively scale low-emission technology in mining and manufacturing, and expand circular material use in retail and construction. The right culture enables these efforts to take root by signalling that climate and nature are organizational priorities. It empowers people to question, innovate and act with purpose, reinforcing that progress is both expected and valued. Together, these foundations create the conditions under which governance shifts from aspirational to actionable. The framework is designed for use in the boardroom to act as a simple reminder of the responsibilities each board member has in relation to climate and nature. Each principle is presented alongside questions for directors to reflect on, as well as questions to consider asking management and examples of practical application and insights from global peers. This combination is designed to sharpen oversight, stimulate rigorous debate and strengthen alignment between ambition and delivery. Board Leadership for Growth and Resilience 4

Board Leadership for Growth and Resilience 2026