Enterprise Risk Management

 
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What You Need to Know about the EU’s Sustainable Finance Regulations

Having over 9 billion people living well within planetary boundaries by 2050 is an ambitious, yet crucial goal. As an enabler for the urgent transformation required to meet this objective, redirecting finance towards sustainable investments plays an essential role. Europe has already taken important measures to shape the future of its financial sector towards a more sustainable future. These have far-reaching implications for all financial market participants operating in Europe and may inspire other parts of the world to accelerate on the topic of sustainable finance. This article gives a brief overview of sustainable finance in Europe and its global implications for companies.
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New Perspectives on Materiality: Double Materiality & Emerging ESG Risks

Today’s world is obviously dominated by the COVID-19 pandemic, but if we look at the landscape of materiality, new perspectives are arising as well. The EU Commission talks about the concept of “Double Materiality” in its Non-Financial Reporting Directive and companies are concerned with capturing emerging risks successfully in their ESG approach. One of the main questions that therefore arises is: how do you ensure your materiality assessment covers these new perspectives on materiality?
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Using materiality to navigate to a sustainable future

ESG Acceleration Webinar: Forward-Looking Materiality

During this webinar, we'll explore how to apply the materiality assessment as a tool to capture (emerging) ESG risks and opportunities, as a driver for future strategy and risk mitigation, and how to align materiality with enterprise risk management. Special guest speaker is Suzanne Westlake, Head of Corporate Responsibility & Corporate Affairs at Ocado Group. Participation is free and capacity is limited, so sign up today to confirm your registration - if you haven't already.
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Rethinking Value, Emerging Risks and Revealing ESG Leaders

Early February, the S&P Global Sustainability Yearbook 2021 was published - highlighting the sustainability leaders and key industry trends, which have emerged from the 2020 Corporate Sustainability Assessment (CSA). In addition, the Yearbook provides interesting reflections on the new challenges and trends brought about during the last year. This article gives a brief summary of the take-aways from the Yearbook, with a deeper view on rethinking value, and identifying and managing emerging risks.
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Updating Your Materiality Matrix Post Covid-19

As the world is in various stages of recovery from the impact of the corona virus, it becomes clear that while there is a ‘new normal’, companies are aiming to go back to business-as-usual as soon as possible. How does Covid-19 affect your company’s sustainability strategy and how should this be reflected in your materiality matrix? Should you discard your old matrix and rebuild from scratch? Should pandemics be featured in it? As is almost always the case in complex situations, the answer is: it depends.
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Lessons from DSM’s Winning Sustainability Strategy

The roots of global specialty chemicals company Royal DSM are as a Dutch state-owned coal mining company that started in 1902. The company’s future, however, is far removed from its past. DSM’s Strategy 2021 describes how the company plans to drive above-market growth through developing innovative solutions addressing Nutrition & Health, Climate & Energy and Resources & Circularity, together with increased customer-centricity and large innovation projects. In this article, DSM’s approach is decomposed by looking at the elements of its sustainability strategy, and we provide tips how to replicate this.
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The Benefits of Forward-Looking Materiality

The COVID-19 outbreak shows that a topic that seems to be immaterial a few months ago, can be material today. The increasing transparency, growing stakeholder influence and visible changes of our planet increase the pace in which ESG topics become material. Companies should avoid being surprised by the impact of future ESG factors and identify which topics become material for their business in the future. In this article, we illustrate the importance of a forward-looking approach towards materiality.
5 Steps for Integrating ESG Risks into ERM

5 Steps for Integrating ESG Risks into ERM

According to the World Economic Forum’s Global Risks Report in 2018, four of the top five risks were environmental or societal, including extreme weather events, water crises, natural disasters, and failure of climate change mitigation and adaptation. Growing interest from investors seeking to understand how organizations are identifying and responding to ESG-related risks is pressuring companies to fully integrate them in their Enterprise Risk Management (ERM). To support organizations in this challenge, COSO and the WBCSD released the final version of the “Guidance for Applying ERM to Environmental, Social and Governance related Risks”. The guidance presents a pragmatic 5-step process to identify and manage ESG risks today while maintaining resilience to adapt and respond to the megatrends of tomorrow.
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Mature Materiality Management for Long-Term Shareholder Value

Over the last few years, the link between financial interest and companies’ effective management of ESG issues and risks has rapidly become more and more evident. We see an increasing number of cases where corporate loans are issued by financers such as ING, BBVA, and DBS Bank whereby interest rates are linked to sustainability performance as indicated by third-party ratings such as Sustainalytics or inclusion in the Dow Jones Sustainability World Index. These examples make the business case for an effective management of the right ESG issues extremely straightforward.
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Checking Your ESG Blind Spots under the ‘Duty of Care’

We can no longer deny it: no matter the industry, each company faces a wide range of environmental, social and governance (ESG) risks found both within the business operations and throughout the value chain that need to be identified, monitored and managed. Although the benefits of good ESG risk management seem obvious, there are still companies claiming that some of the most important ESG risks such as human rights or climate change do not concern them. What European lawmakers have shown in 2018 through the EU Non-Financial Reporting Directive and the French “Duty of Care” law is that ESG risks affect all companies, albeit to a varying degree. In all cases, it is necessary for them to broaden the scope of ESG risks to avoid potential blind spots, and to be transparent towards stakeholders on the risks that are most prevalent.
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