Oversight Critical to SRM

Blog by Julie Urlaub, Founder and Managing Partner at Taiga Company

Dec 6, 2010 10:44 AM ET

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Oversight Critical to SRM http://3bl.me/8pa7cn by @TaigaCompany #sustainability

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Failure to foresee the financial risk and resulting challenges of the economic slowdown are believed by many to have been a contributing factor to many of the challenges businesses faced. Executives and their companies were playing catch-up when they could have been focused on implementing a set of predefined mitigation strategies. To be prepared for the next wave of business challenges, our sustainability consulting sees a need for a new level of Sustainability Risk Management (SRM) and business sustainability oversight.

With the more visible and direct threat of a slumping economy lessening the burden on some, business sustainability risk still looms for those unaware and unprepared. Expanding global climate discussions and unresolved US legislation leaves little doubt that there is a growing risk to companies lacking a firm grasp of these potential impacts to their organization.

Our professional consulting stresses the need to have comprehensive business sustainability strategies in place to address holistic environmental and social impacts. The challenge to executives will be the ability to foresee the tangible impacts these changes might have on their organization. For this reason, we ask: Does your company have the right risk management oversight in place?

Following just one example: IBM made a step-change in business sustainability oversight when the company announced earlier this year that it would require its 28,000 suppliers in more than 90 countries to install management systems to gather data on their energy use, greenhouse gas emissions and waste and recycling. Click here to continue reading.

Home to one third of the earth's trees, the Taiga is the largest land-based biosphere and encircles the globe. Its immense oxygen production literally changes the atmosphere and refreshes the planet. It is this continuous renewal that has shaped Taiga Company's vision to drive similar change in the business world. Taiga Company seeks to be the "oxygen for your business".

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