Risky business: why sustainability is now central to mitigating risk

It’s logical, therefore, to conclude that they are challenges that demand global cooperation and societal cohesion to overcome.

Getting to grips with sustainability impacts

Sustainability is a multiplier of risk”, exponentially increasing volatility and uncertainty.

What this means is that, to be successful over the long-term, businesses must not lose sight of their sustainability risks. Against this backdrop, a recent GRI webinar, Aligning Sustainability and Risk Management, explored the ways that the integration of sustainability was shaping the role of risk managers, increasingly their relevance to the organizational transformation process. Here we share some of the insights from the session, which was the second in our Building Leadership for Sustainable Business Expert Series.

Where the CRO evolution can and must deepen is in the correlation between enterprise risk and sustainability risk.

Having a CRO that leads on sustainability is a good sign that a company is resolute in its sustainability commitment. The CRO does not have to be a know-it-all; more important is that they have the competencies to lead and build a team, collaborate with external stakeholders such as investors and regulators, bringing the ESG and conventional risks strands together into a single, meaningful narrative.

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GRI

GRI

GRI is the independent international organization that helps businesses and other organizations communicate and understand their sustainability impacts.