In the past months, PRINCEPS Risk Intelligence Institute has been working with its Norwegian partner Prios Kompetanse on assessing the current ESG trends, existing and coming regulations, and the challenges ahead. Our objective was to find ways to utilise existing tools from risk intelligence to enhance companies’ governance of their ESG policies, evaluations, and reporting. Based on the observations we have designed two documents: "A Risk Intelligence Methodology for ESG Evaluation" and the "Strategic Action Plan for ESG Risk Assessment." These documents offer actionable guidance for SMEs on ESG assessment with concrete strategic steps. Risk intelligence methods provide accessible tools for comprehensive analysis, making them an ideal addition to the ESG assessment process. These methods include specific steps on how to Identify, Assess, Mitigate, and Monitor risks specific to SMEs as well as crucial steps for stakeholder mapping.
We are excited to present the final documents below!
A Risk Intelligence Methodology for ESG Evaluation provides a detailed, step-by-step framework for using risk intelligence to source and assess ESG-related data. Its flexibility stands out as a major benefit, offering organizations a tool for independent information and risk management that can be smoothly integrated into their daily operations without incurring significant financial or personnel burdens.
Understand the types of risks facing your company.
Learn how to Identify, Assess, Mitigate, and Monitor concrete risks and issues.
Identify which stakeholders matter for your ESG activities, and how.
Understand the relevance of risk intelligence to your company’s ESG reporting requirements.
The Strategic Action Plan for ESG Risk Assessment equips SMEs with the tools to proactively address potential ESG-related challenges, boosting their readiness, adaptability, and resilience. With mapping and assessment tools, examples, and actionable steps to follow, the Action Plan hopes to empower SMEs to take control of their ESG evaluations and reporting.
Identify the type of your organisation according to EU classification and the applicable reporting standards.
Understand your organisation’s risk appetite and select an appropriate risk management strategy.
Use comprehensive tools to plan strategy-informed actions and map their outcomes.
Map your stakeholders to ensure effective and meaningful engagement.
Integrate risk intelligence into your company’s regular reporting practices.
By following these steps, SMEs can align their operations with sustainability objectives, fulfil regulatory and stakeholder demands, and manage high-priority risks. This pragmatic approach safeguards business operations while positioning companies advantageously in the circular economy.
For more information about the project, click here.
This project is financed by EEA Norway Grants.
Comments