ESG/Social Responsibility

September 5, 2023

“ESG risk is just one more thing under the big heading of ‘reputation risk’,” Kossovsky said

“Lightning does strike,” (Kossovsky) said, but firms that can demonstrate that they have developed effective governance systems and implemented thoughtful risk management experience a much different impact: “That’s where enterprise risk management creates value.”

July 18, 2023

ESG risk is one of a growing number of stakeholder-centric issues falling under the greater rubric of reputation risk. High-profile, costly risk management failures at AB InBev (Bud Light), Southwest Airlines and Silicon Valley Bank indicate that it is time for risk management to be more fully integrated into corporate processes, like marketing: #letriskmanagersmanagerisk! Reputation risk management needs to be a standard area of enterprise risk management responsibility. Can we drink to that?

March 16, 2023

Child labor in supply chains. Think about reputation risk management now as a potential differentiator and a competitive advantage.

The U.S. Department of Labor has now launched an investigation and said it will hold not only companies that employ child labor accountable, but the larger, better known companies that have child labor in their supply chains. The new regulatory stakeholders in companies’ supply chains bring with them investors and litigators, who had material financial consequences to activities already being followed by activists.

January 24, 2023

Building resilience requires a demonstrably effective, insurance-authenticated system.

Risk Strategy Authentication and Communication.If you oversee an effective reputation risk strategy process, but no one knows it, is it actually effective? This is a vital question boards of directors, senior executives, and risk professionals need to ask themselves in this era of enhanced regulatory enforcement. Building resilience requires a demonstrably effective, insurance-authenticated system.