ESG Management now includes risk assessment from our Integrated Risk Management solution, enabling you to model climate, social, privacy, and other ESG risks.
The ability to understand and communicate ESG risks is key to effective ESG programs. ESG risks are now part of many compliance disclosure requirements, but the people who understand the risk considerations are distributed around the organization. ESG teams are also not risk experts. These teams need a simple way to ask for and record risk information, both quantitative numbers like losses, and qualitative insights that may be written manually. Auditors need to see the data for the risk calculations the teams assert in their disclosures, so the information must be archived reliably and with data integrity.
The ESG risk management application provides both types of risk assessments and is employed for assessing both entities and material topics. Object-based assessments focus on material topics, while risk-based assessments are applied to entities providing straightforward quantitative and qualitative risk assessment embedded in first-line user workflows to help them easily contribute to accurate risk assessment and make risk-informed decisions as they perform their usual work.
• Enables ESG risk managers to perform ESG risk assessment for example, climate related risks on their entities and material topics and view the risk scores for their entities.
• Allows for two risk assessment methodologies, one for risk-based assessment and another for material topics assessment. Supports both qualitative and quantitative risk assessment methods.
• Customizes the risk assessment process based on the unique needs of an organization and includes configuring the assessment criteria, the context, and the overall risk scoring logic.
- Fixed
- Enhanced workspace experience for users with low vision or those who rely on assistive technology, such as screen readers. This includes optimizing zoom capabilities.
- Replaced the usage of the 'State' field with the 'Status' field in the Risk assessment flow in ESG Workspace.
- Required plugins and products
- Environmental Social Governance Management
- Permissions and roles:
- Role required to install the app: System admin (admin)