Risk and sustainability risks
Risk and sustainability risks
For this assignment, define risk and describe what makes up sustainability risks. Using your current organization or one you are familiar with, analyse the risks they have they taken lately. How did those risks affect the overall reputation of the organization?
Define risk and describe what makes up sustainability risks
Some business leaders view sustainability efforts as a risk. Identifying these efforts as a risk is only the first step towards understanding their impact.
For this assignment, define risk and describe what makes up sustainability risks. Using your current organization or one you are familiar with, analyse the risks they have they taken lately. How did those risks affect the overall reputation of the organization? What steps should the organization take to mitigate the risks if not able to remove them completely? What local regulations require the removing or reporting or risks in an organization, refinery, factory, etc.
More details;
Some see sustainability as a risk; some as irrelevant; and others still as both! Many seem to pigeonhole it as irrelevant though, not seeing the risk (nor the opportunity for that matter) that inattention brings. But being single minded and ignoring sustainability risks leaves a business’ risk exposure wide open.
The fact is that every one of these medium term Business Risks is a Sustainability Issue. CEOs clearly see the link between these environmental and social risks and their business productivity, performance and bottom line.
But recognising a risk is only the first step towards understanding its impact on a business – risks need to be quantified, monitored and managed. I see this latter activity happening with varying degrees of success – there seems to be a disconnect between knowing about sustainability risks and knowing how to deal with them. According to our own survey of CEOs, 49% are making significant changes to how they define and manage risk so there is an awareness that the report card says “could be better”.
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