This Masterclass addresses an increasing need for companies to integrate environmental, social, and governance-related risks (ESG) into their Enterprise Risk Management processes.

Sustainability offers a new way of looking at risk that is broader than a traditional enterprise risk management (ERM) framework. By looking beyond economic, strategic, and operational factors to include social, environmental, and governance considerations, sustainability allows corporations to consider emerging risk areas and to look for opportunities presented by risks that are overlooked by other analytical and systems-driven approaches.

Sustainability, coupled with traditional risk identification and analysis tools, gives risk managers the information they need to make better, more informed decisions on an array of risks, including environmental, social, economic, operational, and strategic issues. A risk management approach that incorporates sustainability provides management with useful data for identifying emerging issues and developing new and better products and processes that help protect corporate reputation and improve stakeholders’ value.

In this course, we shall explore how to use sustainability as a platform for risk management, supplementing traditional risk management techniques, and improving responses to all areas of risk. We shall teach you how sustainability can incorporate Enterprise Risk Management (ERM) techniques and highlight the benefits of considering a broader spectrum of risks and searching for opportunities that are derived from the process of identifying and analyzing risks from all aspects of the organization’s operations and activities etc.

 

From this Masterclass risk, participants will

• Participants will understand the concept of Sustainability and its importance to business
• Understand the application of sustainability to business
• Define sustainable enterprise risk management
• Identify the roles and responsibilities within an organization to implement sustainability in enterprise risk management as an enterprise-wide function
• Understand the gap in risk and sustainability disclosures and how to address this
• Understand and conduct quantitative Sustainable Risk Analysis
• Learn how to implement a thriving/sound sustainable enterprise risk management program in an organization
• Understand how to monitor, report and evaluate a sustainable enterprise risk management program for improvement

WHO WILL ATTEND:

• C-Level Executives, Risk, audit, and compliance, Sustainability & ESG practitioners, Analysts, investment officers, Quality Assurance, Financial management, Business Development, continuity, Sales and Marketing, Policy Makers, Investors, Strategic planners, Procurement and sourcing, Operations and logistics, Human Resources, Supervisors, Senior executives, Board directors, Regulators and rating agency analysts, Internal and external auditors, Investment professionals, Business managers, Business continuity coordinators, Business operations managers, Disaster recovery professionals, Corporate strategy staff, Asset liability management professionals, Anyone new to ERM within financial services.

 

COURSE AGENDA

MODULE 1

• Sustainability meaning and its importance
• Sustainability’s Evolving Role in Business
• ESG Risks and Opportunities: Understanding the ESG Landscape
• Why do environmental, social, and governance-related risks matter for organizations?
• Examples of organizations (Local and International) that have experienced ESG/sustainability-related risks and impacts

  

MODULE 2

• Investor interest in ESG-related risks
• ESG disclosures and regulation
• Comparing ESG disclosures to risk disclosures
• How can Sustainability help Enterprise risk management navigate ESG-related risks?
• Navigating ESG issues — performing an ESG materiality assessment
• Following the ESG disclosure path – using company-specific KPIs to articulate ESG strategy
• Managing risks related to supply chain management

 

MODULE 3

• COSO’s Enterprise Risk Management Framework
• Assessing company readiness for ESG-related risks

• Alignment of sustainability risk appetite to the organization’s corporate strategy and the new world view of company value

• Integrating sustainability to better manage enterprise risk
• Applying a Sustainability Lens to COSO’s Objectives Categories:
  • Strategic Risks
  • Operational Risks
  • Compliance Risks
  • Reporting Risks.

 

 MODULE 4

Integrating Sustainability into the Components of the COSO Enterprise Risk Management (ERM) Framework

• Internal Environment
• Objective Setting
• Event (Risk) Identification
• Risk Assessment
• Control Activities
• Risk Response
• Information and Communication
• Monitoring
• Conclusion: Managing Risk for a Sustainable Future