Post by account_disabled on Mar 2, 2024 23:36:36 GMT -5
There is a great opportunity for growth when it comes to climate change and also a great opportunity for risk mitigation to ensure business resilience. The evolution of accountability shows it is only a matter of time before the TCFD recommendations are integrated into mandatory regulations. However, many organizations are not factoring in their sustainability team’s knowledge, and rarely is this knowledge being integrated into a company’s strategy.
Lack of consistency between nonfinancial and financial climate change disclosure. Integrating climate into enterprise risk management Although rare, there BTC Number Data are already examples of companies managing nonfinancial risks as part of their enterprise risk management (ERM) framework. Dutch financial services and banking corporation ING is one of the early adopters of the ERM framework by COSO. The company’s framework for nonfinancial risks supports and governs the process of identifying, measuring, mitigating, monitoring and reporting nonfinancial risks following the stages outlined by COSO.
All these indicators are showing that businesses need to get to grips with and even stay ahead of the curve when it comes to climate change — just to maintain good business. By listening to the sustainability team and integrating nonfinancial issues as part of ERM and into corporate strategy, companies will ensure resilience of their business.SASB and GRI step up project to align reporting standards Push for simplification and better alignment gains momentum during Global Climate Action Summit.
Lack of consistency between nonfinancial and financial climate change disclosure. Integrating climate into enterprise risk management Although rare, there BTC Number Data are already examples of companies managing nonfinancial risks as part of their enterprise risk management (ERM) framework. Dutch financial services and banking corporation ING is one of the early adopters of the ERM framework by COSO. The company’s framework for nonfinancial risks supports and governs the process of identifying, measuring, mitigating, monitoring and reporting nonfinancial risks following the stages outlined by COSO.
All these indicators are showing that businesses need to get to grips with and even stay ahead of the curve when it comes to climate change — just to maintain good business. By listening to the sustainability team and integrating nonfinancial issues as part of ERM and into corporate strategy, companies will ensure resilience of their business.SASB and GRI step up project to align reporting standards Push for simplification and better alignment gains momentum during Global Climate Action Summit.