Myths are made to be busted, and in the world of corporate sustainability there’s none bigger than the idea that financial returns and sustainable outcomes are mutually exclusive pursuits. That’s why SASB and the World Business Council on Sustainable Development (WBCSD) came together to refocus the conversation. Sustainability is not just about “doing the right thing,” it’s also about properly managing risks and opportunities for a stronger, more resilient and more profitable business over the long term.
Viewing sustainability as a 21st century extension of traditional risk management helps companies transform seemingly intangible environmental, social, and governance (ESG) issues into quantifiable, actionable business intelligence. By incorporating relevant, reliable sustainability information into their processes for identifying, assessing, responding to, and monitoring risks and opportunities, organizations can more effectively protect and create value.
Drawing on previous work related to enterprise risk management and internal control, SASB’s Bob Hirth and WBCSD’s Rodney Irwin unpack these ideas and more on the Global Association of Risk Professionals’ Risk Intelligence blog. Read more here.