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ESG meets ERM – top tips for your 2022 ESG journey

This is an Annual Survey 2021 themed report produced by Airmic in collaboration with Marsh that offers risk managers guidance on their ESG journey.

12/23/2021 · 2 minute read

Time for risk professionals to lead on ESG

“If you don’t assess your ESG risk, someone else will.” It’s anticipated that ESG will in time become part of the regular risk management and reporting of all organisations – some more swiftly than others.

Now is the time for risk professionals to bring their enterprise risk management (ERM) expertise into ESG strategy conversations and help proactively address these issues within their organisation.

“ESG Meets ERM” is the 2021 theme of a special sub-report produced by Marsh and Airmic – a leading association for risk managers based in the UK – on the back of Airmic’s 2021 Annual Survey. The sub-report offers risk managers guidance on their environmental, social and governance journey; practical support to lay out a workable insurance-aligned ESG roadmap; and focused action in the face of mandatory and voluntary reporting.

Is this relevant to me?

The findings and practical tips are highly relevant to Australian and New Zealand risk advisors, in light of new reporting expectations recently announced in both countries.

In December 2021, New Zealand became the first country in the world to make climate risk reporting mandatory for a range of banks, asset managers and insurers, come 2023.

While ESG reporting is not yet mandatory in Australia, businesses have never the less been put on notice by regulators. ASIC and APRA have both endorsed the Taskforce on Climate related Financial Disclosures (TCFD) reporting framework for Australian businesses and in November, APRA issued its final prudential practice guide on climate change financial risks (CPG 229).

Download the report to learn more.

REPORT

ESG meets ERM - top tips for your 2021-2022 ESG journey

Annual survey 2021 themed report - Risk managers’ key role in cutting ESG complexity and building resilience using ERM frameworks 

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