Latest news with #riskManagement
Forbes
a day ago
- Business
- Forbes
How Should Businesses Be Approaching Sustainability Now?
There is a palpable air of uncertainty among many multinational corporate sustainability, ESG and risk management teams these days as everyone tries to anticipate the future of sustainability regulation. I've written quite a bit about the mixed messages companies are receiving from regulators in Europe as the EU Member States continue to debate the details of the Omnibus Simplification Package, and in the U.S., where it's still unclear exactly how this historic period of environmental deregulation will affect companies. The fact is that many businesses have invested significant time and resources into sustainability compliance and reporting initiatives while operating under the impression that major reforms like the Corporate Sustainability Reporting Directive (CSRD) would be hitting their stride right now. Instead, they're living through a period of regulatory limbo in which it's not clear what exactly their future sustainability compliance obligations entail. So, what should they be doing in the meantime? The short answer is: now is the time to be reviewing the steps they have made so far, and the most obvious place to start is with is their materiality assessments. In the world of financial reporting, materiality is defined as information that can influence and ultimately inform the financial decision making of an entity. When applied to sustainability reporting, a materiality assessment is a company's foundational definition of the core sustainability issues that matter most to their businesses and their stakeholders. These guide the way they will report and integrate them into overall business strategy and investment. In short, these materiality assessments shine a light on the foundational truths that define a company's values and goals and determine whether or not they are aligned with their strategic objectives. The identification of these material matters is also the starting point to determine the information that should be disclosed in the sustainability statement, which identifies the impacts, risks and opportunities confronting a company and its upstream and downstream value chain. At a time when the rules of the game keep changing and where corporate positions on sustainability can easily become politicized, a well-thought-out and delivered materiality assessment is an important way for a company to assert the business case for its sustainability strategy. Importantly, it is a way for companies to take the emotion out of sustainability and instead focus on the facts and the financial rationale behind their actions, while ensuring their sustainability strategy is dynamic and meets the changing needs of their businesses. Even during this period of regulatory flux, the market drivers behind sustainability have not changed , and in some cases they have even increased in significance. Now is the time for businesses to really look at what other companies in their space are doing when it comes to sustainability reporting. This peer comparison will soon become a key benchmark against which other companies will measure themselves and will also be measured. While sustainability disclosure reporting regulators have been debating the best path forward, many leading companies have already started reporting in compliance with the CSRD. In fact, some 500 companies have already published sustainability reports under the CSRD. The full library of reports can be found here, courtesy of ESG data management software company KEY ESG, which has been cataloging them all. One of the first things that stands out when reviewing these reports is that many of them come from companies in jurisdictions where the CSRD has yet to be fully implemented. In fact, according to a detailed PwC analysis of 100 CSRD reports, about 90% of them came from five European countries, three of which (Germany, Spain and the Netherlands) have not yet transposed the CSRD into national law. Another key finding of the analysis was that these reports are not very standardized. Some are 30 pages; others are 300 and they each focus on different aspects of sustainability-related risks. However, the important takeaway for business leaders who are still refining their approaches to sustainability reporting is that hundreds of manufacturers, technology companies, financial services firms, retailers, utilities and others are already out there walking the walk on sustainability reporting. These early standard bearers will not only have a jump on the intricacies of the reporting process once the mandate is finalized; they will also help establish industry best practices and position themselves as leaders to investors, customers and other stakeholders who increasingly want to know about business risks linked to sustainability. It's easy for business leaders to become distracted in a news cycle like the one we find ourselves in today that seems to be consumed with the idea of delayed implementation and political infighting. The big picture is that, delayed or not, sustainability reporting mandates of some type are coming, whether directly from regulators, or as is currently the case, from other stakeholders such as investors and customers. The sooner companies get themselves aligned with those standards, the better off they will be when the time comes to comply with the law. Moreover, with so many companies already reporting in line with the CSRD, and the informed view is that more and more will do so voluntarily, the prevailing market forces are creating some pressure on businesses that have not yet shared their sustainability reports. Now is not the time to delay. It is the time to refine and hone sustainability practices to focus on what matters most to the business and its stakeholders.
Globe and Mail
3 days ago
- Business
- Globe and Mail
AXA XL targets Canadian middle market with new insurance offering
TORONTO , /CNW/ -- AXA XL is expanding insurance offerings in Canada with the official launch of its Canada Middle Market business. The announcement follows AXA XL's appointment in September 2024 of Arti Rawal as Chief Underwriting Officer – Middle Market, Canada . Ms. Rawal is charged with building the Middle Market team and developing products to support the business expansion in Canada . "We're open for business," Ms. Rawal declared. "We're excited to start working with new clients and brokers, because we know that they have a lot to gain from the multiline insurance coverage provided by our experienced underwriters and backed by AXA XL's financial strength, suite of products and risk management capabilities." AXA XL will be offering multiline coverages for middle market clients in Canada , which include property, general liability, umbrella and commercial auto. AXA XL will initially work with a limited number of brokers in British Columbia , Alberta and Ontario with plans to expand to additional broker partners in the future. James Lee , Chief Agent and Head of Client & Distribution, said AXA XL's expansion into the Canadian middle market aligns with the company's desire to be a true risk management partner and provide value beyond the insurance policy. "Risk is growing more complex for all size businesses," Mr. Lee said. "By tailoring our insurance products and services to the middle market, we can help clients that might otherwise not have the resources to better face into risk." Follow AXA XL on LinkedIn ABOUT AXA XL AXA XL provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit AXA XL 'Facing into Risk' We're 'Facing into Risk'. Innovation has always kept the world moving forward, but it comes with risk. As a re/insurer, we believe that we must step up, face into risk and push the boundaries so that our clients can continue to drive progress. It is this belief that has inspired our new campaign, 'Facing into Risk'. Discover our solutions for business :
Yahoo
3 days ago
- Business
- Yahoo
Negotiating and Drafting IT Contracts Training Course: Understand Complexities to Ensure you Draft Watertight Agreements and Manage the Risks Effectively (ONLINE EVENT: July 8th and 15th, 2025)
Enhance your understanding of IT contracts to draft effective agreements and mitigate risks. This intensive two-day course covers key contract aspects, benefiting IT suppliers and users. Learn what IT contracts are, how they operate, and get certified with 12 CPD hours. Dublin, June 02, 2025 (GLOBE NEWSWIRE) -- The "Negotiating and Drafting IT (Information Technology) Contracts Training Course" training has been added to offering. This practical and intensive two-day programme will boost your knowledge in these six key areas to ensure you get the deal done with the best terms for your organisation. All those involved in IT transactions need to understand the trends and industry 'norms'. A tough commercial environment means you need to guarantee you are getting the best terms available and the best deal for your company or clients. This course has been specifically designed to engage both IT suppliers and users of IT to develop their understanding of the structure and content of IT contracts. Key topics covered include: What IT contracts are How and why they work What should be included How to put them in place How to overcome the key challenges What the IT (separate from the contract) actually means Certifications: CPD: 12 hours for your records Certificate of completion Who Should Attend: This seminar has been specially designed for representatives from both IT suppliers and users/buyers, including: In house lawyers Contract managers Procurement managers Buyers IT directors and managers Private practice lawyers and IT consultants Key Topics Covered: Background to an IT contract (pre-contract preparations) Part 1: Prevention is better than cure Differences in perspectives of IT suppliers and IT customers IT contracts words to avoid... and encourage Part 2: Preparing to negotiate IT tendering and procurement Managing IT negotiations Pre-contract documents Interim agreements and pre-contract contracts Structure of IT agreements Responsibility for technical schedules Understanding enough IT to work with IT contracts Lawyers vs IT consultants Computer architecture Storage devices Software - what is it? Source code vs object code Databases Classical networks - what are they? The Internet IP Addressing and DNS ASP to Software as a Service (SaaS) to the Cloud Virtualisation Content and data Analogue v Digital Communications Encryption AI and machine learning Future trends Software Licences Software Software licences: Background Commercial questions Goods or Services? Express terms: Usual restrictions in software licences Safeguards against those restrictions The effect of the Software Directive Warranties to a standard Date and currency warranties Communicating the licence terms Shrink and web-wrapped software Maintenance and support adjuncts Escrow: Source code escrow SaaS step-in escrow Etymology of an IT project: group exercise: Part I Waterfall commercials - how to negotiate Etymology of an IT project: group exercise: Part II Waterfall software development Waterfall development contracts Software development Agile v Waterfall methodologies Crowdsourcing and open-source development Agile contracts Software as a Service Advantages and disadvantages LHA v SaaS agreements Customer sensible due diligence SaaS agreement: Description of services Right to use Scope of use Price Other clauses Copyright and database rights - basic principles (Part 1) What is copyright? - and important copyright issues Use of the symbol What are database rights? Sources of most disputes Copyright enforcement bodies FAST and the BSA Audit clauses Copyright and database rights - implications for software activities (Part 2) Porting software Non-textually copying software Software patents Moral rights in software and typefaces Outsourcing and IT services contracts Overriding principles Structures of IT services agreements Defining services Defining Service Level Agreements (SLAs) Change control and project/system scope creep How are IT suppliers managed? Supplier warranties vs customer pushbacks IT Reseller Agreements Software distribution: what does the industry do? Sales agents Sales representatives Resellers Contracts Problems with IT contracts Typical disputes in IT projects Methods of IT dispute resolution and corresponding clauses Litigation ADR, mediation and arbitration Expert determination Neutral evaluation Ping-pong determination Disclosure issues Software ownership issues: who owns it? Open source software Open source software The rise of OSS Historical concepts The open source definition The trajectory of OSS today OSS as an industry OSS licences IT warranties and clauses Implied terms: Anglo v Winter Brown Quality Material, substantial or reasonable? Anti-virus clauses Date issues and clauses Comm issues and clauses Currency issues and clauses Sizing warranties and scalability issues For more information about this training visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Bloomberg
22-05-2025
- Business
- Bloomberg
Deutsche Bank Reduces Exposure to Clients at Risk From Tariffs
Deutsche Bank AG has reduced its exposure to companies that are sensitive to the new US tariffs, after the German lender conducted a series of internal stress tests. 'We have selectively reduced risk and customer limits in tariffs-sensitive sectors and downgraded individual customer ratings,' Chief Financial Officer James von Moltke told investors at the bank's annual shareholder meeting.
BBC News
22-05-2025
- General
- BBC News
Concerns South Wales Fire Service can't keep people safe
There are concerns a fire service's cannot keep people safe from fires and other risks, a report has report by HM Inspector of Fire & Rescue Services (HMICFRS) into South Wales Fire Service questioned the efficacy of the service in consistently identifying, prioritising and mitigate risks for the public. It was called for by the service's new commissioners after a series of damning independent reviews found sexual harrassment and misogynistic behaviour within the service. Fin Monahan, chief fire officer, described the findings as a "hard read" but assured colleagues there is a "robust" plan in place for dealing with the recommendations.
