Latest strategic risk management toolkits for boards

The World Economic Forum recently published three reports for Boards on critical topics ranging from digital transformation, climate and cyber risks. Zurich subject matter experts have been providing meaningful contributions to each of these reports, showcasing our risk management expertise.

Creating Effective Climate Governance Report

The goal of this paper is to propose tools that can be useful for the board of directors to steer climate risks and opportunities: the governance principles are designed to increase directors’ climate awareness, embed climate issues into board structures and processes and improve navigation of the risks and opportunities that climate change poses to business. By providing a compass to enable more effective climate governance, this work strives to contribute to the Forum’s Compact for responsive and responsible leadership and to sound an urgent call to action for purposeful stewardship from and for the most prominent custodians in corporations: their board of directors.

Advancing Cyber Resilience Report

Cyber resilience and cyber risk management are critical challenges for most organizations today. Leaders increasingly recognize that the profound reputational and existential nature of these risks mean that responsibility for managing them sits at the board and top level executive teams. This report, which is the product of an extensive process of co-collaboration and consultation, has distilled leading practice into a framework and set of tools that boards of directors can use to smoothly integrate cyber risk and resilience into business strategy so that their companies can innovate and grow securely and sustainably.

Responsible Digital Transformations Report

On many issues, business is today being increasingly challenged about its role in society. In the digital context, the responsibilities of organizations as the primary stewards of data, or as providers of connected devices that we rely on for safety, are equally being called into question. As every company becomes a tech company, these new responsibilities will affect every digitally enabled organization. What this means is clear: We must develop our understanding and practices along multiple strands at once. We must rapidly engage in transformation and innovation programmes. We must encourage and participate in multistakeholder dialogue on the societal impacts of technology and our role in shaping positive outcomes. And we must improve our individual and collective understanding of the state of play on key technologies today, in order to support good decision-making. In this final regard, boards play a critical role – as they set the direction for their organizations.

Source: World Economic Forum