Risk

Description

Incorporate sustainability considerations into the organization's risk process

Question

To what extent do you integrate sustainability into your risk assessment process?

Resources

  • New The Task Force on Climate-related Financial Disclosures

    Momentum is growing for organizations 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 organization.

  • World Economic Forum 2018 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 organization.
  • 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.
  • 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 organization'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.

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