The most recent of the Risk Coalition’s Risk Officers Sustainability Forum (ROSF) roundtable discussed ‘Transition planning and associated risks’. Alex Hindson sets out his key takeaways from this discussion, pointing out that it is important to start by acknowledging transition plans will be complex. He says to be successful requires effective engagement whilst being transparent about progress is also critical. He identifies three key questions that all organisations should be asking themselves in relation to their transition plans.
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Seven-year itch - reflections of a chief risk and sustainability officer
After seven years in role as a Chief Risk & Sustainability Officer, Alex Hindson has recently moved on. Much (but not everything) has changed in this time so he has taken this opportunity to reflect on his tenure and the role he has undertaken. In this Risk Coalition blog, he considers how things have changed in the world of risk and sustainability. In the final analysis, Alex recommends that organisations work out what ‘Sustainability’ means for them and that they define their own ambition. He also cautions not to over-promise or to over-commit. Do less but do it well, he says, and at all times be authentic and be proactive.
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Greenwashing - to disclose or not disclose, that is the question?
Each group of a company’s stakeholders will have differing levels of influence, and will each contribute to shaping the context within which an organisation determines its sustainability strategy, says Alex Hindson. This sustainability strategy will drive what each organisation prioritises and reports on. But how does management determine what is relevant and appropriate to disclose? Alex says a risk-based approach can help companies determine their sustainability agenda and focus on priorities.
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Moving from ESG theory to practice – making the transition
Transitioning from ESG theory to practice from a risk governance perspective is not an easy task. The Risk Coalition’s Risk Officers Sustainability Forum discussed the challenges at its most recent forum. Summarising the discussion, Alex Duncan highlights that the alignment with business strategy is the key building block for establishing fit-for-purpose ESG governance. Risks need to be considered from both an ‘inside-out and outside-in’ perspective and the CRO needs to be aware of the risks in producing and challenging transition plans to achieve net-zero targets. In the final analysis, a ‘do nothing’ approach or strategy is not viable.
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Oversight of purpose - how to set up governance over ESG
Establishing clear oversight arrangements over ESG matters is not purely a matter of good governance and corporate hygiene, according to Alex Hindson. Rather, he explains that it is an enabler of better decision making by ensuring ESG is integrated into an organisation’s existing decision-making frameworks. A key question, therefore, is whether to establish a new, stand-alone committee at board-level to oversee ESG matters, or to work through the existing committee structures.
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How to sustainably risk manage the sustainability agenda within financial services
The Risk Officer Sustainability Forum (ROSF) has been established to bring together risk and sustainability leaders from across small and medium-sized financial institutions and discuss how they are managing the challenges of managing rapidly developing sustainability risks. At the first roundtable held on 9 June 2021, a group of 15 leaders debated the pros and cons of the different approaches to tackling the question of what a suitable the target operating model could be. In this blog Alex Hindson summarises the discussion, setting out the pros and cons of each model.
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What is the relevance of the rise of ESG to Chief Risk Officers?
As a highly experienced Chief Risk Officer, Alex Hindson comments on the importance of proactively managing an organisation’s brand and reputation, particularly as the risks associated with ESG have been rising inexorably. He highlights the vital role CROs are able to play, given they are one of the few senior executives able to look across the breadth of ESG and sustainability issues.
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How to hire a great Chief Risk Officer
The pandemic has emphasised the need for organisations’ CROs to be of the right stature and to bring the right qualities. Alex Hindson, CRO of ArgoGlobal, sets out what he sees are the key attributes of a CRO today.
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