Among the long list of competing business priorities, risk management is now carving out a well-deserved place in the board agenda. As I outlined in a recent article for the US-based board software group, Diligent, many organizations have painfully learnt this year that a relatively small investment in risk management – and planning for downside scenarios – would have yielded a significant payback.

Ongoing business and financial- related issues and risks continue to dominate because of COVID-19. However, many business leaders are now turning their minds back to other risks that will have a significant medium to longer term impact on their businesses. Climate change risk is one such risk. An article written in December 2019 provides some ideas on how businesses can begin to think about climate change risk.

Highlights for this month for me were:

  • COVID-19: A Steep Learning Curve in Risk Management for Many Boards and CEOs This month I wrote for the US based Diligent, the world’s leading board software company, on my observations on what ‘good looks like’ from a risk management perspective.
  • Company Director Magazine July 2020 Article: 7 steps to consider when reviewing risk management For the AICD’s July 2020 members’ magazine, Anthony Stevens (founder 6clicks) and I outlined key steps business owners, directors, executives can take to review their organizations risk management practices. Click here to see the article online.
  •  Climate Change Risk – Getting Started. In December 2019, I penned some thoughts on how businesses can start to think about climate change risk. Climate change poses unique strategic, financial, and operational questions and potential challenges for all businesses. I outlined six steps to help companies start to develop plans to assess climate change risks. Read the full article here.

Peter Deans