Mitigating Climate-Related Risks: A Vital Imperative for SMEs

The alarming rise in heat-related mortality due to climate change A recent research article in Nature Communications has captured my attention lately and if you’re at the helm of a Small to Medium-Sized Enterprise (SME), it should certainly pique your interest as well. This important study illuminates a pressing concern: the alarming rise in heat-related
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Operational Resilience and Midsize Companies

In the dynamic realm of modern business, where change is constant and challenges are inevitable, the concept of operational resilience has emerged as a crucial notion for today’s organizations. For midsize companies, whether privately held or publicly traded, operational resilience is not merely a buzzword; it is a strategic imperative that can determine the difference
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Why are we unable to recognize the opportunity in the climate change crisis?

Climate change, undoubtedly one of the most pressing challenges of our time, has sparked widespread concern and garnered considerable attention from companies, individuals, scientists, policymakers, and activists alike. However, amidst the discourse of danger and catastrophe, an often-overlooked facet emerges – the potential for positive change and innovation. While climate change undeniably poses threats to
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What is Life Cycle Assessment (LCA) and how does it fit into your ESG strategy?

ESG and Life Cycle Assessment
🌍💼 Ever heard the term Life cycle Assessment (LCA) in the context of ESG strategy? Wondering what it means for your small to medium-sized enterprise (SME)? In post #5 of our ESG series for SMEs, we will break down the complexity of a LCA and shed light on how it can benefit your business. What
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Climate risk management planning for your business

The Rising Frequency and Severity of Extreme Weather Events Have you noticed the increasing frequency and severity of extreme weather events in recent years? It’s no coincidence. Scientific studies have revealed that human activities play a significant role in influencing the occurrence and intensity of these events. Let’s delve into this issue and explore the
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5 Potential Consequences of Ignoring Business Risk Management

Hind Abdo, Facultas-Risk Consulting Inc. Founder and Managing Partner, was featured among a distinguished panel of experts and entrepreneurs in a compelling article on risk management for businesses. Published on the prestigious American Express website, the article was skillfully crafted by the award-winning journalist and writer, Rodika Tollefson. This enlightening article delves into the potential
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Enhancing Financial Institution Resilience: Stress Testing for Climate Risks

In an era where climate change poses significant threats to the global economy, financial institutions are increasingly acknowledging the imperative of incorporating climate-related risks into their risk management practices. One fundamental approach for assessing and managing these risks is through the implementation of stress testing. Stress testing empowers financial institutions with a powerful tool to
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Should you pause your ESG strategy during challenging economic conditions?

Should companies pause their ESG strategy given the current challenging economic conditions? This question is important and relevant for every owner of an SME and every board member/executive team. Despite the prevailing belief that ESG efforts are not effective in mitigating immediate disruptions like tough economic conditions, studies show that they create tangible economic value
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CRO series #10 – Risks and opportunities of Large Language Models in Financial Institutions

What are the Risks and Opportunities of using Large Language Models (LLM, i.e. ChatGPT) to Financial Institutions? Welcome to post #10 of the CRO series. The use of LLM (Large Language Models) in financial institutions provides both opportunities and risks to financial institutions. What are those risks and opportunities? Risks to address: 1️⃣ Regulatory Compliance:
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CRO series #9 – third-party risk

🌐 In recent years, third-party risks have become more prominent and critical to manage. Why do you think that is? Below are a few factors that I can think of behind its prominence. Can you think of other factors/reasons? Welcome to post #9 of the CRO series! 1️⃣ Complex and Interconnected Business Ecosystems: In today’s
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