More than 60 per cent of Caribbean corporate directors surveyed say environmental, social and governance issues are at least somewhat linked to their business strategy, and they acknowledge its financial impact.

But fewer than 20 per cent say their board has a defined process for ESG oversight.

This, from a PwC survey highlighted during their webcast for more than 150 Bermuda and Caribbean business and government leaders on the topic ESG and Net Zero: Securing a sustainable future for the Caribbean.

Nicole Röttmer, the firm’s global climate clients and industry lead, was among the presenters, providing an overview of the physical risks that are business-relevant in the Caribbean region based on modelling for the year 2030 with a 4C temperature increase and median uncertainty.

PwC has committed to transforming its own business model to decarbonise its value chain, increase transparency and support the development of robust ESG reporting frameworks and standards.

The PwC network is also engaging its clients and suppliers to support them to tackle their climate impact, as the firm continues it commitment to achieve net-zero greenhouse gas emissions by 2030.

Marisa Savage, ESG leader at PwC Bermuda, said: “We’re proud of the progress PwC has made to reduce our operational carbon footprint.

“Expectations are growing for business to be part of the solution to society’s challenges. This is why organisations’ environmental, social and governance practices are more important than ever.”

The PwC regional and global ESG leaders together with Caribbean business executives and government officials presented various perspectives during the webcast.

Arthur Wightman, ESG leader for PwC in the Caribbean, said: “This audience is integral to helping make a big difference to securing a sustainable future for the region.

“No one entity can make a real and lasting change without the other. At PwC we believe ESG has to be a priority for every government and business across the region. Together, we have a greater impact and can make a big difference.”

Apart from what businesses in the Caribbean are thinking about ESG, the webcast also features discussions on the physical risks that are business-relevant in the Caribbean region, graded from low to severe and the GDP risks of climate change.

Other topics include the rapidly evolving ESG reporting landscape and changes since COP26.

The fulsome presentation looks at how climate tech investments have gained sustained momentum globally and the future for increased substantive governance.