ESG takes center stage in risk management: What risks and opportunities are there for the future viability of business models?
How can CRISAM® contribute to the implementation of sustainability issues?
ESG is currently the focus of corporate risk management.
It’s about the future viability of business models: Where are there risks and opportunities that could ultimately harm or help your company?
Since 2017, banks, insurance companies and large listed companies (over 500 employees) have been obliged to prepare a sustainability report in addition to their annual report.
This must include information on the environment, social issues, employee matters, the fight against corruption, respect for human rights and diversity.
From 2025, a stricter EU directive will apply, obliging all companies with 250 or more employees and a turnover of over EUR 40 million to produce a sustainability report. In Austria alone, around 2,000 medium-sized companies are affected.
How well is your company prepared for these new challenges?
Are you already confused by the variety of different terms such as SDG (Sustainability Development Goals), ESG (Environmental Social Governance), CSRD (Corporate Sustainability Reporting Directive), TfS PCF (Together for Sustainability Product Carbon Footprint) Guideline, EU taxonomy?
Where do you need to tighten up processes in the company in order to implement the transparency requirements of the CSRD?
The procedure is clear:
- As part of a materiality analysis, the first step is to determine what impact the current business model has on the environment and society.
- The second step is to identify significant opportunities and risks that arise for the company as a result of sustainability aspects.
- Risks and opportunities must always be compared with the defined targets, e.g. with regard to emission reduction targets (greenhouse gas balance) in the value chain, etc.
You can find out what special features need to be considered here and how these can also be implemented upstream and downstream of risk management with CRISAM® at the CRISAM GRC SYMPOSIUM & EXPERT WORKSHOPS on 19. & June 20, 2024 in Linz, Austria! Feel free to register for this event free of charge until June 16.
These two days in Linz will offer you a unique combination of experience, discussion and exchange with CRISAM® experts and other customers on the strategic and operational challenges of ESG in industrial companies. Nina Kaufmann-Frank, Executive Consultant at CALPANA, will give you practical insights into precisely this topic in a presentation on day 1 of the symposium: ESG, SUSTAINABILITY & CLIMATE CHANGE IN ENTERPRISE RISK MANAGEMENT.
At the EXPERT WORKSHOPS on Day 2, Ms. Kaufmann-Frank will lead a workshop on: ESG – UNCHAINED.
We cordially invite you to join us!
Furthermore, this year you can meet us at Corporate Risk Minds in Berlin for a specialist lecture on ESG. More information can be found here:
Do you have questions about the implementation of ESG and sustainability in your company? Feel free to contact us or book an appointment for our free webinar “ESG Made Easy“!
Nina Kaufmann-Frank
Nina Kaufmann-Frank was responsible for the development and implementation of risk and opportunity management at Böhler-Uddeholm (today: voestalpine) and GRC at Semperit with a total of 20 years of experience in a global corporate environment. As an Executive Consultant for CALPANA, she brings this valuable experience to customer projects.
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