Risk & Sustainability 2023 - Executive Summary : simplebooklet.com

“Risk & Sustainability | 2023” has been developed to illustrate the importance of usingstructured risk management frameworks and processes to help organizations more rapidlyand reliably achieve their sustainability and ESG goals. ESG stands for environmental, social,and governance. ESG criteria can be used to measure the sustainability of a company orinvestment. Sustainability is a broad concept covers a broad range of activities and issues and includesESG. Many aspects of the field, especially the economic and technical factors may feelchallenging. However, the guidance that has been developed is straightforward and easy toaction, and can start producing results virtually immediately. The full guidance document is based on the principles of ISO 31000, theworld's leading risk management standard and comes with practical detailsand examples, as well as reality check questions to help you develop thecontext and perspective to meet your objectives. It shows how organizationscan use risk management to make better informed decisions that create andprotect value, while addressing climate risks and societal challenges. Itprovides practical advice that can be applied to any organization, regardlessof size or sector.Risk management & sustainability report 20231Our intention has been to introduce you to what you can do to quickly develop a risk-basedapproach to sustainability management. It explains how to use risk principles to transformbusinesses effectively and meet the needs of all stakeholders in a changing world.Success today means meeting the needs of all stakeholders, including investors,employees, customers, suppliers and society.The world is facing profound challenges. Businesses need to adapt to these challengesand seize new opportunities. Risk management has an absolutely critical role in this.Organizations can immediately apply risk management principles and processes toimprove the effectiveness of their work and accelerate positive change. Organizations today are expected to commit to moral and social principles, have clarity ofpurpose and be able to demonstrate their sustainability credentials. The fundamentalquestion has changed from ‘how much money do you make?’ to ‘how do you make thatmoney?’. Sustainability pays. There is evidence that businesses that take a longer term, moresustainable strategy are more successful. The guidance provides practical steps on how to use risk principles to accelerate the paceof transformation effectively. These risk principles help businesses identify, assess andmanage the risks and opportunities related to sustainability improving performance andcontributing to a more sustainable world.Some of the main points contained in the guidance are:The guidance explains how to apply risk management principles to set and achievesustainability goals more quickly and efficiently. It shows how small, medium and largeorganizations can use existing systems and processes to address sustainability issues -without adding unnecessary complexity or cost. It also provides guidance on how to use theinternational standard ISO 31000:2018 to structure, implement, report and maintain yoursustainability management.

Risk management & sustainability report 20232Using the advice offered in "Risk & Sustainability | 2023" will help you take your effortsto the next level and deliver insights into the real opportunities and threats yourorganization faces.The advice shows how to embed sustainability into your core purpose and vision as anorganization. It explains that sustainability should be a fundamental element of yourstrategy, operations, products and performance. It also advises that you shouldunderstand your context, including your impacts and risks along your supply chain andin your resources and products. Sustainability reporting should be accurate, honest and transparent, and go beyondlegal compliance to create positive value.Poor or misleading reporting can damage an organization's brand and business, andexpose it to risks and penalties.Sustainability reporting can have various benefits, such as increasing loyalty,profitability, awareness, decision-making, employee engagement and investorattractiveness.Sustainability reporting is driven by multiple factors, such as customer/stakeholderexpectations, legislation and regulation, guidelines, lifecycle analysis, industry codesof conduct, ethical standards and activism.Sustainability reporting is a complex and evolving field that requires carefulconsideration of what to report, how to report and to whom to report.Sustainability reporting is not just a one-way communication, but a dialogue thatinvolves listening to feedback, engaging with stakeholders and taking action toimprove sustainability performance.Key points covered in the guidance are:Following these best practices will help you demonstrate your sustainability credentialsin a transparent, consistent and credible way.This summary, the Extract Summary, the accompanying full document, and the researchon which it is based, have been delivered through an initiative of the Continuity Forum(an NGO) and the BSI Risk Management Standards Committee. Over 800 people fromacross the risk and sustainability sectors contributed to the project providing thoughtfuland valuable insight. Thank you to all who contributed to the research. We specifically wish to thank our key contributors and authors, who have been sogenerous with their time and knowledge.Project Management and Review: Sara McKennaEditors: Sara McKenna, Russell PriceContributors: Mark Boult, Adrian Clements, Ian Davies, Steve Fowler, Melissa Wellings

Risk & Sustainability 2023 - Executive Summary

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