How do you learn from environmental and social risk case studies and apply the lessons to your context?
Environmental and social risk (ESR) is the potential for adverse impacts on natural resources, communities, and stakeholders due to business activities. ESR can affect the reputation, performance, and sustainability of an organization, as well as expose it to legal, regulatory, and operational challenges. Therefore, operational risk management (ORM) should include ESR assessment, mitigation, and monitoring as part of its framework. One of the ways to enhance ORM capabilities and practices is to learn from ESR case studies and apply the lessons to your context. Here are some steps to do that effectively.