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New COSO enterprise risk paper looks at managing sustainability risks

In response to today’s highly competitive markets and the growing number of organizations integrating sustainability into their business operations, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has published a paper jointly written by LLP and Miami University.

‘Demystifying Sustainability Risk: Integrating the triple bottom line into an enterprise risk management program’ offers insights into how organizations can develop interrelated strategies and objectives across the enterprise that create a strong context for risk consideration. Such an exercise can provide additional strategic and operational leverage for businesses.

“We believe there is a strong correlation between effective risk management, which includes sustainability risk, and shareholder value,” said Craig Faris, co-author of the paper and the Americas risk Transformation Leader at Ernst & Young, LLP. “Bringing ERM and sustainability closer together and more integrated, provides a powerful platform to leverage existing tools and approaches, as well as the drivers for positive innovations in risk management. These are things that can increase shareholder value.”

Read Demystifying Sustainability Risk (PDF).

The authors are:

  • Ernst & Young: Craig Faris, Brian Gilbert, Brendan LeBlanc.
  • Miami University: Brian Ballou. Dan L. Heitger.

•Date: 3rd July 2013 • World •Type: Article • Topic: Enterprise risk management

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