Climate Governance Initiative Germany: The Dual Board System and Sustainable Corporate Governance

Virtual Summit

The German Council for Sustainable Development (RNE), together with ESMT Berlin and Board Academy e.V., has joined the World Economic Forum’s Climate Governance Initiative and coordinates its Chapter Germany. Chapter Germany will host a digital panel discussion during the inaugural global summit of the Climate Governance Initiative.

The participants will discuss with non-executive directors how the German dual board structure of companies can boost sustainable corporate governance and the transition to climate neutrality. The dual board system consists of two separate boards of directors: a management board and a supervisory board. Such board system has been first established in the 19th century in Germany. Other countries that adopted the two-tier board structure include, for example, Austria, China, Indonesia, the Netherlands and Poland. But what are the implications of the dual board system for fiduciary duties and the long-term strategic direction of companies? In this webinar, we will discuss how the dual board system can support sustainable corporate governance and the transition to climate neutrality. We will also shed light on the important role of codetermination and workers’ representatives on supervisory boards.

Speakers

Chapter Germany:

• Dr. Werner Schnappauf (Chair, German Council for Sustainable Development)
• Prof. Jörg Rocholl (President, ESMT Berlin)
• Katharina von Frankenberg (Representative, Board Academy e.V.)

Panelists:

• Dr. Simone Bagel-Trah (Chair of the Supervisory Board and of the Shareholders’ Committee, Henkel AG & Co. KGaA)
• Joe Kaeser (Chair of the Supervisory Board of Siemens Energy AG)
• Reiner Hoffmann (President of the German Trade Union Confederation (DGB), member of the Supervisory Board of Bayer AG)

This summit is convening board members, regulators, experts, academia and other corporate governance leaders to understand and act upon the risks and opportunities that climate change poses to the long-term resilience and business success of their companies. More information.

Please share this invitation with your organization’s board members and other interested stakeholders.

If you have any questions, please contact Alexander Reitzenstein (Project Manager, German Council for Sustainable Development) at alexander.reitzenstein@nachhaltigkeitsrat.de.