ESG Management now includes risk assessment capabilities 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 crucial to the effectiveness of ESG programs. ESG risks are now part of many compliance disclosure requirements; however, the individuals who understand the risk considerations are distributed throughout the organization. ESG teams are not always risk experts. These teams need a simple way to ask for and record risk information, including both quantitative numbers, such as losses, and qualitative insights that may be written manually. Auditors need to see the data for the risk calculations that the teams assert in their disclosures, so the information must be archived reliably and with data integrity.
The ESG Risk Management application offers two types of risk assessments, which are used to evaluate 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
- Strengthened security controls related to read-only fields
- Required plugins and products
- Environmental Social Governance Management
- Permissions and roles:
- Role required to install the app: System admin (admin)