ESG Webinar – The Interconnectedness of ESG, ERM, and Third-Party Risk Management
The role of Environmental, Social, Governance (ESG) in Enterprise Risk Management (ERM) and Third-Party Risk Management (TPRM) has gained prominence as the awareness of environmental and social issues continues to grow. Not only are global regulators creating more frameworks and standards around ESG, but investor and customer expectations for transparency and ethical partnerships are rapidly ascending. Today, ESG-related risks such as bribery, corruption, diversity & inclusion, climate change, trafficking, modern slavery, and greenhouse gas emissions have a significant impact on an organization’s operations, reputation, and bottom line. And the increase in the use of third parties to support business functions introduces its own set of risks. Effective enterprise risk management requires a holistic approach that takes all of these factors into account.
This webinar explored the ways in which ESG, third-party risk management, and enterprise risk management intersect and how an organization can integrate all three elements into a cohesive risk management strategy. We discussed the potential risks and opportunities that come with an ESG focus and working with third parties, and how an integrated approach can help mitigate those risks while also creating value for the organization.
- Why ESG is becoming more prominent in third-party risk programs
- How to align TPRM and ERM to ESG to enable effective oversight of interconnected risks
- Why technology is important in ESG and TPRM monitoring