Under the spotlight, a new report from the Economist Intelligence Unit, analyzes environmental risk management. Many members of the business community have implemented sustainability practices at their companies, but there are risks associated with these practices.
The report identifies some key findings:
• Environmental risk management is frequently done ad hoc.
• Many companies conduct strategic activities without formally analyzing environmental risk.
• Respondents said complying with environmental legislation was a key strength.
• Managing environmental risks regarding suppliers and partners was a particular weakness.
• Lack of certainty about environmental liabilities and future legislation presented the biggest obstacles to effective environmental risk management.