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Reviewed the role of senior management in ESG risk and opportunity management
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Established processes to manage ESG risks and opportunities optimally
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Minimised business disruptions and penalties, proactively helping the client benefit from ESG opportunities
CLIENT CHALLENGES
- The client – a technology company with above 100 subsidiaries – delivers best-in-class services under various portfolios including IT, engineering, R&D and products & platforms. It has a large workforce and a footprint in more than 50 countries, serving millions of clients.
- Acuity Knowledge Partners’ team conducted an in-depth study of the IT industry, peer practices and other aspects to identify current and potential non-financial risks and opportunities associated with its business, enabling the client to undertake immediate risk mitigation strategies and measures.
OUR APPROACH
- Review of current risks and opportunities
The Project Delivery team held conversations with client teams to understand pre-identified risks and existing opportunities in their business. Consequently, it scrutinised whether the pre-existing risks could still have a significant impact on the client’s business. - Assessment of risk management structure and practice
Next, the team examined the client’s existing risk management structure and strategies to establish the client’s risk maturity. The team subsequently analysed senior management’s (i) involvement in the risk management process and procedures, (ii) understanding of the nature of the risks and their impact on the business and (iii) knowledge of the mitigation strategies required to manage the risks. This enabled the Project Delivery team to ascertain the current risk management practices and whether further initiatives had to be recommended. - Analysis of risks and opportunities
Next, the team conducted desk research and peer benchmarking and provided scores to indicate the risks and opportunities associated with ESG factors - Risk report
The risk report was prepared on the basis of the above approach and processes. The report detailed the core findings from above activities and the changes required to optimally manage risks and opportunities emanating from ESG factors.
IMPACT DELIVERED
- A report was prepared, consisting of current risk and opportunity management practices and recommendations on how to identify, manage and secure risks and opportunities associated with ESG factors.
- The Project Delivery team completely scrutinised the risk and opportunity management process and procedures including the role of senior leadership.
- The team helped the client better manage ESG risks, minimise business disruptions and penalties, manage reputation and benefit from opportunities presented by ESG factors.
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