Evaluate Risk

Description

These resources will help you to embed sustainability considerations into your organisation’s risk assessment, management, and, as required, disclosure processes.

Resources
Climate Change and Climate Risk Oversight: A Guide for Corporate Leaders and Directors cover

Climate Change and Climate Risk Oversight: A Guide for Corporate Leaders and Directors

Climate change is a planetary emergency that presents severe risks to businesses, society, and the global economy. No business, regardless of the sector, is immune – and businesses around the world have a key role to play to help avoid the worst impacts. This guide will help you understand the science behind climate change, why climate change matters to your business, and what actions your business can take to accelerate the transition to a net-zero, climate-resilient future.

Climate Risk Oversight for Directors cover

Climate Risk Oversight for Directors

This 4-part video series will help corporate directors and leaders understand the risks of climate change and their role and fiduciary responsibilities to oversee these risks. We have also created videos specific to the Canadian and South African context.

The Task Force on Climate-related Financial Disclosures cover

The Task Force on Climate-related Financial Disclosures

Momentum is growing for organisations to formally and transparently articulate the risks that climate change poses to the value of their assets and their future profitability. The Task Force on Climate-related Financial Disclosures (TCFD) has emerged as a response to this call for action, empowering companies to more effectively measure and evaluate their own risks and those of their suppliers and competitors. The TCFD promotes “consistent, comparable, reliable, clear, and efficient” voluntary climate-related financial disclosures, and has developed comprehensive recommendations and resources in support of this. These resources focus on governance, strategy, risk, metrics, targets, and the use of scenario analysis for evaluating climate-related financial risks and opportunities.

The work of the TCFD has culminated in a comprehensive Final Recommendations report and several supplemental reports, including a Technical supplement, which provides in-depth information and tools for using scenario analyses to understand the strategic implications of climate-related risks and opportunities to your organisation.

World Economic Forum 2022 Global Risks Report cover

World Economic Forum 2022 Global Risks Report

This report goes beyond identifying the risks (failure of climate change mitigation and adaptation, fiscal crises in emerging economics, food crises, water crises, etc.) to considering the interconnections between them, and speculating on how they may play out in the future. This may help you in thinking through what these large-scale systemic risks might mean for your organisation.

Risk Assessment Tool cover

Risk Assessment Tool

Use this tool to quickly assess a potential risk. It will guide you through the process of considering the consequences and likelihood of the risk occurring, as well as strategies for mitigation. This tool is part of a 'Getting Started' toolkit on community engagement for managers in mining exploration and development companies, but may be useful for practitioners in other industries as well.

The Nature of Risk cover

The Nature of Risk

Scientific consensus is growing around risks to business from the loss and degradation of nature. This report and framework from WWF builds on existing natural capital and climate-related risk frameworks, and will help you understand the extricable link between nature- and climate change-related risks. This resource also includes a set of case studies featuring businesses facing the consequences of nature-related risk.

Water Risk Filter cover

Water Risk Filter

The Water Risk Filter uses 32 annually-updated, peer reviewed data layers alongside a risk questionnaire to help you explore, understand, prioritise, and respond to water risks at specific sites. It is designed to be easy to use by non-water experts, and is the only water risk tool to assess both basin and operational risks. The filter is also aligned with leading water stewardship frameworks, as well as the UN Sustainable Development Goals. The Water Risk Filter also now applies TCFD-linked scenarios, which will help you to understand how water risks may evolve over time.

Water Risk Monetizer cover

Water Risk Monetizer

You can use this tool to estimate the amount of revenue that could potentially be lost due to the impact of water scarcity on your organisation's operations. It is a free tool developed by ECOLAB and Trucost. It draws on global basin-level water data, and will help you determine water risk at a facility level.

Enterprise Risk Management: Applying Enterprise Risk Management to Environmental, Social and Governance-related Risks cover

Enterprise Risk Management: Applying Enterprise Risk Management to Environmental, Social and Governance-related Risks

Businesses face a rapidly evolving landscape of environmental, social, and governance-related risks, and this spectrum introduces a wide and growing range of barriers to effective management and disclosure. Written for a broad audience, this report from COSO and WBCSD is designed to help risk management and sustainability practitioners apply enterprise risk management (ERM) concepts and processes to ESG-related risks. This report is an excellent introduction to managing ESG-related risk, including strategy development; evaluating performance; reviewing and revising risk assessments; and reporting.

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