Survey: Environmental Risk Gaining C-Level Attention

Stakeholder pressure, the complexity of business relationships, and the threat from climate change are the three main factors encouraging companies to assess more carefully the environmental risks that they face, according to a new Economist Intelligence Unit (EIU) survey of C-level executives, risk managers, senior vice presidents, heads of business units, and other senior managers.

Among the 320 CEOs, CFOs, risk managers, and others questioned for the global survey, the majority say that they are increasing the attention and resources that they dedicate to environmental risk management, EIU says. However, the findings also indicate that many companies are still at the early stage of this process and rarely consider environmental risk management formally when undertaking major strategic activities. To date, this category of risk has tended to be managed either as an ad hoc activity or separate from the overall risk management framework.

Karl Russek, senior vice president for ACE Environmental Risk, says, “When companies are planning major strategic activities, the consideration of environmental risk remains the exception rather than the rule. Fewer than half of the respondents to the EIU survey say that they undertake a formal assessment of environmental risk when developing new products and services, and fewer than one in five when planning mergers and acquisitions.”

The findings form part of Under the Spotlight: the transition of environmental risk management, a new EIU survey and report, co-sponsored by ACE, KPMG, SAP, and Towers Perrin. The report examines current thinking around environmental risk management and explores the approaches that companies are taking to identify, assess, and manage the risks that they face, both within their organization and among their broader partner networks and supply chain. The report is available as a free download at www.eiu.com/globalriskbriefing.

Download Center

HTML - No Current Item Deck
  • Safety Management Software - Free Demo

    IndustrySafe Safety Software’s comprehensive suite of modules help organizations to record and manage incidents, inspections, hazards, behavior based safety observations, and much more. Improve safety with an easy to use tool for tracking, notifying and reporting on key safety data.

  • Create Flexible Safety Dashboards

    IndustrySafe’s Dashboard Module allows organizations allows you to easily create and view safety KPIs to help you make informed business decisions. Our best of breed default indicators can also save you valuable time and effort in monitoring safety metrics.

  • Schedule and Record Observations

    IndustrySafe's Observations module allows managers, supervisors, and employees to conduct observations on employees involved in safety critical behavior. IndustrySafe’s pre-built BBS checklists may be used as is, or can be customized to better suit the needs of your organization.

  • Why Is Near Miss Reporting Important?

    A near miss is an accident that's waiting to happen. Learn how to investigate these close calls and prevent more serious incidents from occurring in the future.

  • Get the Ultimate Guide to Safety Training

    When it comes to safety training, no matter the industry, there are always questions regarding requirements and certifications. We’ve put together a guide on key safety training topics, requirements for certifications, and answers to common FAQs.

  • Industry Safe
comments powered by Disqus

OH&S Digital Edition

  • OHS Magazine Digital Edition - May 2019

    May 2019

    Featuring:

    • RESPIRATORY PROTECTION
      Why Pick a PAPR? 
    • FIRE SAFETY TRAINING
      Fire Safety: Plan, Prevent, Train, Recover
    • PROTECTIVE APPAREL
      The Truth About Heat Stress and FRC
    • AIHCE EXP 2019 PREVIEW
      Underestimated No More
    View This Issue