Business View Magazine | Volume 9, Issue 2

18 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 2 rapidly developing in-store and online digital technologies, and more. Climate initiatives and governance can reinforce a retailer’s strategic position and reputation and support its financial goals and competitive advantage. “This Guide offers important assistance to retail companies in identifying and managing key climate-related risks and opportunities and will serve as an important resource to investors in their consideration of investments in this sector,” says Catherine McCall, Executive Director, Canadian Coalition for Good Governance. About the Canada Climate Law Initiative The Canada Climate Law Initiative (CCLI) is an interdisciplinary research initiative that advances the understanding of climate governance across Canada through research, dialogue, and knowledge sharing. CCLI conducts rigorous legal analysis and consults with a national network of 67 Canadian Climate Governance Experts to bring up-to-date governance knowledge and tools to corporate and pension boards across Canada. CCLI is led by three principal investigators, Dr. Janis Sarra and Dr. Carol Liao from the Peter A. Allard School of Law, University of British Columbia, and Professor Cynthia Williams from the Osgoode Hall Law School, York University. CCLI acknowledges that the UBC Point Grey campus is situated on the traditional, ancestral and unceded territory of the xwməθkwəy̓əm (Musqueam). Effective oversight of climate risks and opportunities is therefore critically important to the retail sector of retail products and services as they make investment decisions. Effective oversight of climate risks and opportunities is therefore critically important to the retail sector.” The massive shift to online retail, accelerated during the pandemic, is also requiring new technologies for marketing and distribution of goods, raising challenges for retailers’ carbon footprints. The necessity for directors and officers of retail companies to address swiftly these new risks and challenges is increasingly important. As stewards of governance, they have a legal duty to be proactive and to critically evaluate and address the material financial risks and opportunities associated with climate change. There are various opportunities for retailers in the transition to a net-zero economy such as energy efficiency measures, moving to circular economy operations, taking advantage of