Account for sustainability risks before they arise.
Sustainability issues are among the five major risks that threaten the global economy in the long term (World Economic Forum, 2022). These risks are as multifaceted as the sustainability driver itself. External factors like environmental disasters and resource scarcity are only partially within a company's control. However, internal risks such as transparency, measurability, or communication can be well-managed. With syracom's integrated solution approach, you can efficiently and assess your sustainability risks alongside with other Governance, Risk & Compliance domains on an enterprise-wide basis.
Sustainability risks that we prepare you well for:
Environmental impacts
Environmental disasters or other external influences can disrupt your production or block a crucial supplier in your supply chain. Secure yourself in advance.
Supply chain transparency
The German Supply Chain Due Diligence Act requires companies to protect vulnerable groups and their human rights. This applies to the entire supply chain: Verify your suppliers - systematically.
Transition risk
For example, transitioning to a low-carbon economy and associated regulatory requirements can result in risks that may impact parts of your value chain. Are you aware of these?
"Greenwashing"
Greenwashing of your own sustainability performance can occur consciously or unconsciously. The mess and reputational damage can be significant, and, when exposed, may result in further incalculable risks.
Sustainability communication
As soon as a company publishes sustainability data or promotes its sustainability initiatives, this information can quickly turn to its disadvantage. The new Corporate Sustainability Reporting Standards (CSRD) further increase communication obligations.
Sustainability ratings
Agencies like EcoVadis or IntegrityNext provide so-called sustainability ratings. They examine the internet and especially social media for official and unofficial information about your company. Are you aware of the implications?
The instant test for your sustainability risk management
Test it right now!
Regardless of the risk you are considering, professional risk management is essential for sustainability aspects too. syracom assists you in not only keeping an eye on your sustainability risks at all levels (ESG) but also in controlling them. Take a moment to check how resilient you are in doing this today:
Do you have a comprehensive overview of the risks directly and indirectly related to sustainability within your company?
Do you regularly evaluate these risks with specific measures, such as a tool-based, audit-proof control process?
Do you have an overview of the current status of measures? Do you know the impact of each measure on your risks?
Do you have internal sustainability reporting that provides information on whether you comply with your own or regulatory requirements?
If you have any remaining questions, please feel free to contact us. We are here to support you in integrating your individual sustainability risks into your existing risk management.
Ready for risk management? Your advantage with syracom:
1. Risk strategy
We analyze your existing risk management processes concerning sustainability, establish an ESG framework for your risk management, explore integration possibilities of ESG risks into your existing risk management, and provide guidance on selecting an appropriate tool based on your requirements.
2. Risk identification
We assist you in creating an ESG risk inventory and systematically identify relevant risks (with ESG focus) together with you during workshops.
3. Risk assessment
We assist you in incorporating ESG risks into your risk analyses and, at the same time, provide guidance on how to conduct ESG risk assessments.
4. Risk control
We provide advice on mitigating ESG risks and assist you in implementing measures for greater sustainability correctly.
5. Risk monitoring
We assist you in risk reviews and establish control mechanisms for the identified ESG risks. You will have the opportunity to report KPIs and introduce monitoring with ESG relevance.
Our approach
Syracom typically offers a 2-3 day workshop after an initial discussion with the goal of providing an assessment and recommendations for the capture and analysis of ESG risks.
During the workshop, the scope of the ESG risks being captured is structured, and the particularly relevant business areas and supply chains are identified. Using a scenario-based approach, ESG risks are identified and assigned to defined risk areas. The initially captured risks are then prioritized, summarized, and can be subject to an initial rough quantitative assessment. This assessment can be used to create an initial risk inventory.
The result should be the development of a concept based on the insights from the workshop on how systematic capture and analysis of ESG risks will occur in the future, and how the initial ESG risk inventory can be sustainably maintained.
Anchoring sustainability in risk management
The topic of sustainability also gives rise to risks that can affect companies. But how can sustainability risks (ESG risks) be managed holistically and at the same time efficiently integrated and monitored in existing internal organizational guidelines?
Interested?
Call or write me
Torsten Lutz
Product Manager Sustainability Consulting