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Securing our future through Responsible Business Conduct
Part 1 : Adapting to climate change: risks and opportunities
- EU Strategy on Climate Change and the use of insurance in adaptation
- Political and market perspective
Part 2 : Responsible business conduct - risks and opportunities
- Report on Member States’ implementation of Non-Financial Reporting Directive
- Response from the market
Managing Environmental Liability Directive (ELD) exposures
Over the last 15 years, the Environmental Liability Directive (ELD) has shaped the market for environmental impairment insurance (EIL). The European Commission now recognizes the insurance offer as sufficient, but there is still political pressure for mandatory financial schemes to cover the most extreme scenarios of environmental impairment accidents and insolvency risks. Risk managers, therefore, need to be able to justify their company’s mitigation strategies for environmental incidents. The session will help you to:
- Understand the current state of the EIL market and the trends for the next 5 years
- Determine what EIL insurance is most appropriate for your organisation
- Discover what financial solutions other than insurance are available
- Balance loss prevention and financial protection for your largest environmental loss scenarios.
Risk mapping in CSR - could it become widespread?
Mandatory risk mapping is a central element in the new French law on the duty of corporate vigilance. It is just the latest example of a requirement by European governments for companies to align their strategy and activities, especially through their supply chains, with societal expectations for ethical corporate behavior. The session will analyse the implications of CSR risk mapping for the risk managers and the impact on “traditional” ERM risk mapping techniques. This session will allow you to:
- Understand what type of risk mapping the regulator wants and the differences with “traditional” ERM risk mapping
- Learn how to integrate new transparency requirements into your existing ERM risk mapping
- Determine what it is mandatory and what it is desirable
- Become a partner with the compliance function on risk disclosure
- Raise the profile of the risk management function by demonstrating the value of ERM techniques for new transparency requirements.
Climate change - the risk manager's contribution to adaptation to this new paradigm
Climate change is now at the forefront of business risks, and the ability of businesses to adapt will become a factor of success in the next decades. By working across functions, corporate risk managers have an opportunity to support their organisations in embedding climate logic into the business. Doing so will help reduce the impact of weather-related events in terms of physical damages and business interruption, and add value and attractiveness to the company. The session will allow you to acquire the knowledge to:
- Position yourself as an actor in climate change adaptation by making the case of a professional risk management approach for climate‐related events
- See examples of accessible and actionable climate-related data and how to apply them in your risk management practices
- Determine what external climate change expertise is needed for your organisation
- Consider what financial solutions, including risk transfer, are suitable for your organisation.