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ERM for ESG risks: Companies have new guidance to ponder

Tammy Whitehouse | February 16, 2018

COSO is looking for feedback on draft guidance regarding how its Enterprise Risk Management framework can be used to manage risks in environment, social and governance areas.

The Committee of Sponsoring Organizations of the Treadway Commission has partnered with the World Business Council for Sustainable Development to draft the guidance. The goal is to help draw a connection between the conventions of ERM and the objectives of managing a broader set of sustainability-type risks, looking for improvements in responsible business practices, decision-making and disclosures.

The draft guidance addresses issues like methods to overcome challenges associated with ESG-related risks, identifying and assessing the severity of risks that...

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