IRM Holds First Climate Change Symposium and Announces Essay Competition Winners
Climate change is rising rapidly up organisational risk registers, according to delegates who recently attended a Climate Change Symposium organized by the Institute of Risk Management and kindly hosted by Lexis Nexis.
In 2018 the IRM’s Risk Agenda 2025 project identified key risks for future consideration, amongst which was the global response to climate change. IRM’s 2018 report with the Cambridge Centre for Risk Studies: Perspectives of Global Corporations also acknowledged that climate change was a recognised risk area, although there was concern that it was seen as a long-term issue and not a short-term priority.
Recent global protests and the increased publicity across media outlets have brought climate change to the world’s attention. Businesses and society at large are becoming more aware of the effects to future generations, and corporations are being held to account and under increasing scrutiny to take their corporate social responsibilities (CSR) seriously.
Over 60 delegates attended the symposium and discussed these issues further, hearing from:
- Alyssa Gilbert, Faculty of Natural Sciences, Director of Policy and Translation, the Grantham Institute for Climate Change
- Vinay Shrivastava, CFIRM, Director, UK Infrastructure Risk an IRM Board Member: Commercial perspectives: an infrastructure viewpoint,
- Clive Thompson, CFIRM, Deputy Chair IRM, Chair of the Interest Groups Committee:
The insurance perspective based on Enstar / PRA
IRM wish to investigate the issue of climate change from the perspective of risk management and commence research into options for the profession and this symposium was the first step into this ongoing work.
Clive Thompson, CFIRM, Deputy Chair IRM, Chair of the Interest Groups Committee, said:
“It was great to see so many attending the climate change event last week and to have the engagement in breakout groups which produced some really good ideas. We are developing a Climate Change Interest Group to take the initiative forward and will shortly be calling for volunteers who would like to become more involved in driving this important subject forward.
I’d also like to congratulate our two student essay winners for their insightful contributions to this key piece of work for the IRM”.
The Climate Change Essay competition winners were:
Sam Brandom, IRMCert, Risk Manager, Shawbrook Bank Limited who said:
“Businesses and financial institutions are the drivers of change in the global economy. Now is their chance to step up, inspire, and lead from the front in tackling climate change by enacting a collective response.
I was delighted to accept the prize for my essay and look forward to seeing IRM’s further work in this field”.
The second winner was Dr Jayne Matthews, IRMCert, Independent Consultant who said:
“Climate change presents a threat to most businesses and local scale risk mitigation will no longer be enough to protect. Businesses have an opportunity for a more global approach to manage supply chain issues and those that embrace this are likely to be more successful.
I am delighted to receive the essay prize and look forward to being a part of the IRM’s future climate change initiatives”.
Please find the links to the essays below: