Organizational risk management has evolved from a singular focus on financial risk to a broader perspective that includes enterprise-wide and non-financial risks. Approaches such as enterprise risk management, strategic risk management, and value risk management are morphing into an area called “non-financial risk management (NFRM).” A paradox in this arena is that even though risk management is important, it is fragmented, siloed, and poorly integrated in companies. NFRM frameworks are weak or non-existent.
A solution to this paradox can be found right down the hall in the EHS/S (environmental, health, safety, and sustainability) department. But because of the historic focus on regulatory compliance, the decades of risk-management experience that the EHS/S function has often goes unnoticed.
Click here to read full post on the NEAM Green Tie Blog.
© Redinger EHS, Inc. (2010)