-
Institute of Risk Management (IRM) publishes Climate Change Risk Management Framework & Guidance one month ahead of COP26
This is the first time the IRM has published a guidance report focused solely on climate change for risk managers. This marks an important formal recognition of the importance of Environmental, Social and Governance (ESG) issues to global business and the pivotal role that risk managers will have in helping to address the climate crisis.…
-
Businesses look to cut costs because of inflation threat
Businesses around the globe are likely to look to cut costs because of the rising risk of inflation. In the eurozone, inflation hit 3 per cent last month, for example. That compares to its annual target of only 2 per cent. And forecasts predict higher levels yet. ECB Vice President Luis de Guindos warned that…
-
Cybersecurity “issue of the decade”
Cybersecurity is the “issue of the decade”, chief executive officer of IBM Arvind Krishna has said. The company said it plans to train more than 150,000 people in cybersecurity over the next three years. In addition, it said it is working on a project to create safe encryption for quantum computing. Big tech push The…
-
ICO raises bar on live facial recognition
The Information Commissioner has raised the bar on using live facial recognition technology in public places. In a recent opinion on the issue, outgoing ICO head Elizabeth Denham said that companies implementing such systems needed to pass tough tests. Data controllers must make a clear case for necessity, proportionality, consent and privacy. Complex But laws…
-
More trouble at sea
Supply chains are facing more trouble at sea as the pandemic and extreme weather continue to play havoc. A fertiliser shipment has been stuck in Shanghai since the beginning of June, according to the news agency Bloomberg. In fact, it was ordered by a US company and February. But it won’t arrive in Chicago until…
-
Mixed messages on future working patterns
A number of recent surveys show mixed messages on future working patterns as more people receive COVID-19 vaccine jabs. Most UK businesses reckon that those employees who come back into offices will have done so by the end of this year, said Willis Towers Watson. But the survey said that about a quarter of workers…
-
Key lessons from digital failures
Organisations need to learn key lessons from digital failures, according to a report by the National Audit Office (NAO). The body analysed 25 years of government initiatives in digital transformation. But instead of finding gradual improvements in how such projects are implemented, it found repeated mistakes. “Repeated cycles of vision for radical digital change have…
-
Insuring a sustainable, greener future – LLoyd’s White Paper
Climate change is the largest, most challenging crisis the world has faced, bringing increasing risk and uncertainty for society, and for the future of our planet. With growing risks that threaten the livelihoods and futures of individuals, communities and entire ecosystems, there has never been a more important time for global collaboration and action on…
-
Risk-averse companies lose out in 2021
Risk-averse companies lost out in 2021 compared to those who embraced risk during the pandemic, according to a survey by the consultant BDO. In a poll of 500 c-suite executives, 53 per cent or risk-welcoming businesses said they fared better than expected. Only 16 per cent of risk-averse business leaders said the impact of the…
-
Businesses face inflationary pressures
Businesses are facing inflationary pressures according to the Bank of England (BOE). Both the BOE’s chief economist Andy Haldane and its external monetary policy expert Michael Saunders have warned that the UK could be in for a rocky ride. Inflation in the US recently edged over 4 percent, the highest level since 2008. Where will…
