Corporate Sustainability Certification: Risk Management

The Sustainable Organisation understands the importance of incorporating sustainability principles with a culture of risk-based business management. The Corporate Sustainability Risk Management standard brings these complementary requirements together in a way that challenges the organisation to ensure they incorporate a strong risk management culture guided by sustainability objectives. This includes understanding and managing supply chain partner risks.

The Risk Management standard will drive the organisation to incorporate sustainability objectives at every phase of business operations and product realisation, while proudly sharing its goals and accomplishments with internal and external stakeholders. This holistic approach to risk and sustainability will help establish the organisation’s leadership position in the industry, by Building Resilience Through Systemic Risk Management and Awareness.

The standard is divided into five main sections; Management Systems, Risk Process, Controls and Reporting, Third Party Management, Business Continuity and Disaster Recovery and Insurance.

 
Evaluates basic management systems in place within the organisation, such as policies and procedures, leadership, failure analysis, corrective and preventive action and continuous improvement and supply chain development.
Evaluates the organisation’s processes for identifying, understanding and mitigating risks, including risk reporting.
Evaluates the organisation’s processes for evaluating risks related to third-party relationships, including alignment of performance and behavioural values.
Evaluates the ability of the organisation’s processes to be able to ensure business continuity in the face of an unexpected event, as well as its ability to recover to normal operations after a disaster.
Evaluates the organisation’s process for ensuring it has continual and sufficient insurance coverage.
 

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