Climate Change Enterprise Risk Management

Climate Change Enterprise Risk Management
Author: Martin Massey
Publisher: Kogan Page Publishers
Total Pages: 433
Release: 2022-12-03
Genre: Business & Economics
ISBN: 1398608718
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Develop and execute a resilient climate change enterprise risk strategy that can be tailored to any organization with this essential guide for risk professionals and business leaders. Climate Change Enterprise Risk Management equips readers with a practical roadmap for how organizations can integrate climate change into their enterprise risk strategy. It offers guidance on how to secure a robust framework that can identify and manage climate threats and opportunities for a business, how to increase the visibility of climate risk management activities at board level, and how and when to implement techniques such as thresholds, mitigation strategies, monitoring capabilities and risk appetite metrics. The book covers both existing best practice risk management tools and how they can be adapted for climate enterprise risk management as well as new interdisciplinary tools like stakeholder mapping. Climate Change Enterprise Risk Management is richly supported by global examples, interviews and case studies representing a wide range of companies and industries including the insurance, finance, infrastructure, oil and gas, legal and auditing sectors. This is a must-read for all risk professionals and business leaders involved in developing and executing enterprise risk management and strategy. It will also be valuable reading for students taking modules on enterprise risk management and climate change, sustainable business and risk management.

Adapting to Climate Change

Adapting to Climate Change
Author: Mark Trexler
Publisher: Routledge
Total Pages: 71
Release: 2017-09-29
Genre: Business & Economics
ISBN: 135127550X
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Most companies do not yet recognize what it means to adapt to future climate change, and do not yet see it as a business priority. Adapting to Climate Change tackles two key questions facing decision makers: 1) Is adaptation worth it to me? and 2) If it is worth it, can I really tackle it? If a company has reason to worry about the potential impacts of weather on its operations and supply chains, it probably has cause to worry about climate change. However, "adapting to the weather" is not the same as incorporating climate change adaptation into corporate planning. In the former a company is managing conditions they are already experiencing. The latter involves preparing for forecasted impacts of climate change. Focusing on today’s weather and not tomorrow’s climate leaves a lot of risk on the table, especially if the climate continues to change faster than many climate models have projected. The uncertainties associated with forecasting climate change on a timeframe and at a scale that is relevant to corporate decision making can appear daunting. It is not necessary, however, to have perfect information to advance corporate preparedness for and resilience to climate change. Companies can improve their ability to make robust decisions under conditions of uncertainty without perfect information. A Bayesian approach to reducing uncertainty over time can cost-effectively support companies in understanding and managing many potential climate risks and can avoid the need to depend on future predictions. Instead, initial effort can focus on where a company will have confidence in its analysis and the ability to influence its level of risk, namely in assessing its exposure and vulnerability to climate hazards. As the hazards themselves become more clear, risk management strategies can be quickly adapted.

Climate Change Risk Management in Banks

Climate Change Risk Management in Banks
Author: Saloni P. Ramakrishna
Publisher: Walter de Gruyter GmbH & Co KG
Total Pages: 362
Release: 2023-12-04
Genre: Business & Economics
ISBN: 3110757974
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Banks, like other businesses, endeavor to drive revenue and growth, while deftly managing the risks. Dubbed the next "frontier" in risk management for financial services, climate related risks are the newest and potentially the most challenging set of risks that banks are encountering. On the one hand, banks must show their commitment to becoming net zero and, on the other, help their customers transition to more sustainable operations, all this while managing climate-related financial risks. It is a paradigm shift from how the banking industry has traditionally managed risks as climate change risks are complex. They are multilayered, multidimensional with uncertain climate pathways that impact real economy which in turn influences the financial ecosystem in myriad ways. Climate Change Risk Management in Banks weaves the complete lifecycle of climate risk management from strategy to disclosures, a must-read for academics, banking professionals and other stakeholders interested in understanding and managing climate change risk. It provides much-needed insights, enabling organizations to respond well to these new risks, protect their businesses, mitigate losses and enhance brand value. Saloni Ramakrishna, an acknowledged financial industry practitioner, argues that given the uncertain and volatile climate paths, complex geopolitical patterns, and sustainability challenges, banks and business professionals will benefit from a wholistic approach to managing climate change risks. The book provides a blueprint and a cohesive framework for embracing and maintaining such an approach, in a simple and structured format.

Managing Climate Change Business Risks and Consequences

Managing Climate Change Business Risks and Consequences
Author: J. Stoner
Publisher: Springer
Total Pages: 244
Release: 2012-02-29
Genre: Business & Economics
ISBN: 1137011432
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Although the title of this volume and its major focus will be on one major aspect of global sustainability - climate change - this volume continues with the overall framing of the series: global sustainability is a multi-faceted, global, multi-generational, economic, social, environmental, and cultural phenomenon and challenge to our species.

Business Risk Management Handbook

Business Risk Management Handbook
Author: Linda S Spedding
Publisher: Elsevier
Total Pages: 783
Release: 2007-11-14
Genre: Business & Economics
ISBN: 0080553664
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It is now seen as essential that all businesses assess their exposure to business risk especially in relation to value creation. This book explains the practical links between risk management and the impact it has on the value of your business. It offers vital, accessible and timely tools to assist you in making an immediate difference to the core value of your business and thereby satisfy the demands of an ever increasing range of stakeholders. This book will help you: • Discover how risk exposure can have a financial impact on your business • Make your business become more sustainable financially, socially and environmentally • Learn how to apply knowledge fast with this practical guide to risk management issues The sustainable approach covered by this book spans business survival to more recent issues, such as the use of energy and natural resources. It highlights the value of a more enlightened approach throughout an organization. In doing so the book explains the practical links between risk management and the impact on value using the Sustainable and Economic Risk Management (SERM) methodology which considers: • inherent risk • management of risk • residual risk exposure. By exploring the various frameworks that organizations operate in today – whether compulsory, compliance driven, voluntary or motivated by best practice – the book offers a practical tool through the SERM model which is at the heart of the book’s approach to risk management. This model, together with its global EFR model, have established proven and practical methodologies to achieve sustainable risk management techniques that are accessible to all organizations. * Explains why risk management is a significant tool in enhancing the overall value or performance of any given organization. * Examples of how risks are quantified and explanations of how risk exposure can have a real ‘material’ financial impact on an organization * Provides best practice examples along with case studies that demonstrate how risks are dealt with by organizations that are rising to the challenge to become more sustainable, financially, socially and environmentally

Climate Risk and Business

Climate Risk and Business
Author: Anna Dowbiggin
Publisher: Springer Nature
Total Pages: 128
Release: 2021-10-25
Genre: Business & Economics
ISBN: 3030782441
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Addressing the urgency of radical decarbonization as a mitigative response to climate risk, this book explores how business can respond to the challenges of climate risk, through various transformational processes. Those processes involve cognitive transformations, organizational changes, climate risk integration into risk management practices, shifts in corporate reporting and disclosure as well as futuristic scenario-based planning beyond normal business planning cycles. Though much has already been written on corporate sustainability efforts, there is a greater need now for building mitigative capacity at the firm level, in alignment with shifting policy and regulatory regimes. Theoretical and empirical work on these areas is addressed in the novel thought experiment approach of this book. A research agenda for future work is provided.

The Changing Profile of Corporate Climate Change Risk

The Changing Profile of Corporate Climate Change Risk
Author: Mark Trexler
Publisher: Routledge
Total Pages: 88
Release: 2017-09-08
Genre: Business & Economics
ISBN: 1351276107
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This book will help business executives to (1) rethink their perceptions of climate risk (2) evaluate whether their company is effectively positioned, and (3) make informed and prudent business decisions about climate change risk in an environment rife with policy uncertainty.Business risk associated with climate change is commonly assumed to be primarily policy driven. Many companies internalize the current stalemate over global climate policy into a perception that climate risk is no longer a critical issue. Business climate risks, however, include: Operational and Supply Chain (Physical) Risk, Brand Risk, Market-driven Structural Risk, Liability Risk.As national and global policy to materially reduce climate change is delayed, it is business-prudent to assume that the level of climate risk is increasing. Even if policy risk might seem lower today than a few years ago, political will can change quickly. Should physical impacts of climate change manifest in dramatic ways, for example, draconian climate policy is likely to follow quickly. These conditions create a complex and shifting business risk environment, and most companies either overlook or substantially underestimate key climate risks. How many companies, for example, are positioned for material climate change outcomes, whether physical or regulatory? Companies with little climate change exposure may not face much downside risk from taking a wait-and-see approach. For those with greater exposure, being "too late" to respond will mean costs and competitive impacts that could have been avoided. Being "too early," however, can mean being penalized later for actions that reduce a company’s emissions today, or competitive disadvantage from getting too far out in front of competitors.

A Short Guide to Climate Change Risk

A Short Guide to Climate Change Risk
Author: Nigel Arnell
Publisher: Routledge
Total Pages: 152
Release: 2017-03-02
Genre: Business & Economics
ISBN: 135196187X
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Climate change poses a risk to business operations and to markets, and a poor business response to this risk can lead to reputational damage, or worse. At the same time, climate change can bring opportunities for some businesses. In this addition to Gower’s series of Short Guides to Business Risk, Professor Arnell, one of the world’s leading experts in the field, reviews this critical area of risk posed to businesses and other organisations by climate change and considers how they can respond to this threat. A Short Guide to Climate Change Risk focuses on the impacts and consequences of climate change rather than on business use of energy or business and 'sustainability' issues. The author examines the advantages and disadvantages of different approaches to addressing these risks, with international case study examples. With chapters on the nature, science and politics of climate change, on the assessment and management of climate change risks, and recommendations for incorporating climate change risks into a Company Risk Management System, this concise guide serves the needs of business students and practitioners across a wide range of sectors, public and private.

Handbook of Research on Climate Change and the Sustainable Financial Sector

Handbook of Research on Climate Change and the Sustainable Financial Sector
Author: Olarewaju, Odunayo Magret
Publisher: IGI Global
Total Pages: 573
Release: 2021-06-25
Genre: Business & Economics
ISBN: 1799879690
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Climate change is a major problem, generating both risks and opportunities that will have a direct impact on the economy and the financial sector. In recent years, climate change has threatened both the survival of the financial system and economic development. The growing occurrence of extreme climate events combined with the imprudent nature of economic growth can cause unsustainable levels of harm to the financial sectors. On the other hand, it presents a range of new business challenges. In contrast to the most evident physical risks, companies are vulnerable to transformational risks that arise from the reaction of society to climate change, such as technological change, regulation and markets that can boost the cost of doing business, threats to the profitability of existing goods, or effects on the value of the asset. Climate change also offers new business opportunities, and it has made research in the context of a sustainable financial sector indispensable. The Handbook of Research on Climate Change and the Sustainable Financial Sector focuses on the impacts of climate change on various sectors of the world economy. This book covers how businesses can improve their sustainability, the impact of climate change on the financial sector, and specifically, the impacts on financial services, supply chains, and the socio-economic status of the world. Beyond focusing on the impacts to the financial industry itself, this book assesses how climate change in the financial sector affects the well-being of society in areas such as unemployment, economic recessions, decreases in consumer purchases, and more. This book is essential for stockbrokers, business managers, directors, fund managers, financial analysts, consultants and actuaries, institutional investors, policymakers, practitioners, researchers, academicians, and students interested in a comprehensive view of the impact of climate change on the financial sector.

International Environmental Risk Management

International Environmental Risk Management
Author: Robert A. Woellner
Publisher: CRC Press
Total Pages: 200
Release: 2020-08-13
Genre: Law
ISBN: 1351680714
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Based on the first edition with extensive analysis of practical applications of environmental risk management and compliance management systems, this second edition of International Environmental Risk Management reflects updates made in the understanding and application of risk management best practices and makes available a frame of reference and systematic approach to environmental and social governance (ESG). It provides a pathway for readers to implement environmental management strategies that can be integrated with core operations and other risk management efforts, including supporting sustainability and corporate social responsibility initiatives associated with climate change, the circular economy or supply chain conditions, as well as enterprise risk management; anti-bribery, and other compliance management systems. This book provides in-depth discussions of ways to use global environmental management standards. New features in this edition: Combines EMS standards with discussion of specific principles, other authors’ research, and guidelines on management practices. Provides guidelines on how to prepare for, anticipate, and resolve environmental issues. Includes easily understandable information for all readers and is not simply aimed toward individuals who are knowledgeable about this topic. Provides in-depth discussions on using global environmental management standards to manage risk and promote resilience, as well as legal strategies and voluntary initiatives that companies can utilize to minimize risk. Accounts for the substantive revisions in ISO 14001:2015. As a growing and rapidly changing field, it is necessary to address new issues, guidelines, and regulations to assist businesses, academia, students, consultants, lawyers, and environmental managers with a pragmatic resolution to environmental risk management issues. This second edition gives a broad and detailed analysis of the changes made to international standards and practices and serves as an excellent guide to managing environmental risk.