Embedding ESG Risk into the ERM Framework Article

June 22, 2023

In a recent article published by Fintech Global, ViClarity's Donal Lawlor discusses the impact of ESG on the Chief Risk Officer (CRO).

All aspects of Environmental, Social, and Governance (ESG) have become increasingly important and topical in the business world. As companies continue to face growing regulatory pressure to address ESG issues, the role of the Chief Risk Officer (CRO) has evolved to include effective strategies to manage and integrate ESG risks into the organisation's overall risk management strategy.

Embedding ESG risk into the ERM framework is recommended for firms that want to operate in a sustainable and responsible manner. By implementing a robust ESG risk management strategy, companies can protect their reputation, minimise potential financial risks, and contribute positively to society and the environment.

Topics Discussed: 

• Disclosure of obligations
• Integrating scenario-analysis into the risk framework
• Four recommended pillars by TCFD (Task Force on Climate-related Financial Disclosures)
• Benefits of adopting a reporting framework

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