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GOOD CORPORATE GOVERNANCE

Mitigate your Risks

As Directors Duties develop in common law, building a business approach that considers these new types of risks is vital to ensure continued business success for all stakeholders.

Good risk management is the culture, process and approach of identifying and taking advantage of potential opportunities presented by a situation, while managing potential adverse impacts or mitigating risks.

 

Good corporate governance is deeply entwined with risk management, which therefore begins with understanding the risk appetite. 

 

The Glacier Group are pleased to be able to assist you with the development of performance monitoring and evaluation frameworks, design and implement robust governance models and processes for collecting and reporting information or provide guidance of market disclosures.

Our Corporate Risk Governance Service offers support in the following areas:

  • Stakeholder engagement review, planning and mapping

  • ESG or responsible investment policy development

  • ESG risk reviews and mitigation planning

  • ESG strategy development, planning and implementation

  • SDG mapping, review and strategy development

  • Assessment of Investment Manager capabilities across ESG

 

The Glacier Group has observed that:

  • Organisations face a new reality that has changed the nature of risk and risk management: 

    • a connected world and global value chains, 

    • empowered and knowledgeable stakeholders; and 

    • shifts in the definition of business risk

  • These new forms of social risk cannot be mitigated through traditional frameworks and require a new approach in understanding and adapting risk management systems, approaches and tools 

  • Risk management by global companies must involve some form of corporate social responsibility programme to reduce reputation risk, and the likelihood of failure to carry out directors duties.

  • CSR provides the framework and principles for stakeholder engagement, understanding and prediction of emerging and current social issues and risks to support the corporate risk agenda, and ultimately serves as a countermeasure for social and environmental risk.

 

Organisations who understand the value of their reputation can address social risks by balancing those risks against business decisions and determining the quality of engagement with stakeholders and their associated issues. In order to do so, The Glacier Group suggests our clients adopt the following steps:

  1. Identify the empowered stakeholders and their key issues.

  2. Determine the highest level of engagement and information sharing necessary to address their concerns and reap the mutual benefits from improved accountability and better relations with stakeholders.

  3. Implement an action plan, including policies, reporting and other activities.