In recent years, FERMA’s advocacy work on sustainability has accelerated, largely driven by an increase in policy and regulation in this space.
The European Green Deal has for the first time set out a legal target for the EU of climate-neutrality by 2050, with the European Climate Law. This act will also ensure that all EU policies contribute to this overall goal, and that all sectors of the economy and society play their parts.
FERMA believes there is an important role for professional risk managers in this field. We can help our organisations manage the risks associated with these significant changes and seize upon the opportunities they are generating.
Part of our role as risk managers is to translate the various sustainability initiatives into risks and opportunities for our own companies. In 2021, FERMA issued the first sustainability guide specifically designed for European risk managers, People, Planet, Performance. Building on good practices from leading risk managers, it shows how a sustainability risk management process can be linked to strategic goals and risk appetite.
For us sustainability means encouraging businesses to frame decisions in terms of financial, environmental (including climate, biodiversity), social and human effects ensuring resilience and long-term value creation.