2013_v8.docx · web viewcompanies should investigate these risks because of the potential...

Building Resiliency into Your Sustainability Strategy: Assessing Emerging Risks, Stakeholder Issues and Materiality


1. Introduction

We currently live in a very turbulent economy, society, and ecosystem where one day a major hurricane (i.e. Sandy—$65 Billion) can disrupt global supply chains and business operations and the next, un-anticipated protestors are shutting down major transportation corridors (Idle No More Ambassador Bridge Shut Down—$176 Thousand for 2 hour, not including costs of delayed deliveries2). While it can be difficult to anticipate these types of events—it is critical that businesses are prepared for them as best as possible or at a minimum they have a resilient system in place that has an adequate, proper, and timely response.

“The largest global disasters of 2012 were Hurricane Sandy (with a cost of $65 billion) and the year-long Midwest/Plains drought ($35 billion), according to the company's Annual Global Climate and Catastrophe Report, which was prepared by Aon Benfield's Impact Forecasting division."

USA Today


Key Words:

Emergent Risks, Stakeholder Issues, Materiality

Key Questions:

1. How do companies assess and quantify long-term emergent risks and stakeholder issues?

2. How is uncertainty regarding these emergent risks and stakeholder issues dealt with?

3. How is the assessment of emergent risks then integrated into materiality assessments and the overall sustainability and corporate strategy?

Rice, Doyle. USA Today. http://www.usatoday.com/story/weather/2013/01/24/global-disaster-report-sandy-drought/1862201/ Sourced: February 25th, 2013. 2 LaFleur, Steve. Huffington Post. http://www.huffingtonpost.ca/steve-lafleur/idlenomore_b_2497322.html Sourced: February 25th, 2013.

2. EXCEL Perspectives

EXCEL ResearchAfter having reviewed the CSR or Sustainability Reports from last year’s Reporting Review exercise, EXCEL partners that had undergone a materiality assessment and publicly disclosed this assessment in their reporting were identified. This was done to develop an understanding of how EXCEL partners assess and prioritize sustainability risks and test these risks with stakeholders. Specifically, a review was undertaken to find if risks/issues had been identified, assessed, stakeholder tested, integrated into the overall corporate risk management process (including enterprise risk), and prioritized as material issues. Note, only companies publicly disclosing a materiality test were included.

It was found that the majority of EXCEL partners who disclosed a materiality test had identified their major issues/risks, and that many had a process in place to characterize and assess these risks. Many EXCEL partners had directly tested these issues/risks with stakeholders via working groups, review panels, and surveys while some used secondary research to understand stakeholder perspectives. Only a handful of EXCEL partners had discussed fully or partially how their risk testing had been considered in the overall corporate risk management process—including ERM. All companies had prioritized their material issues (explicitly or implicitly), which was used as a basis to help inform the sustainability strategy, KPIs, and public reporting.

http://www.huffingtonpost.ca/steve-lafleur/idlenomore_b_2497322.html

http://www.usatoday.com/story/weather/2013/01/24/global-disaster-report-sandy-drought/1862201/


The following is a summary of how EXCEL members assess materiality and publicly disclose the results.

Table 1: EXCEL Member Materiality Summary

EXCEL Member

Issues/ Risks Identified

Risks Assessed/ Quantified

Stakeholder Tested/

Feedback

Integrated into Corporate Risk Management

Material Issues Prioritized

BellBentall KennedyBombardierCenovusDuPontEnbridgeEncanaHolcimNexenSuncorTeckTransAlta

Reported on partially or fully disclosed Not specified, no information

Figure 1: Corporate Vs. Stakeholder Importance Radar Map of EXCEL Partner Key Issues/Risks

0

1

2

3Employees

GHGs / Climate Change

Community Development

Governance, Ethics, Transparency

Water

Air Emissions

Human RightsHealth & Safety

Economic Benefits

Biodiversity

Land Use Management

Aboriginal Relations

Waste

Company Importance

Stakeholder Importance

To see a more fulsome description of EXCEL partner materiality testing, please see Appendices A & B. Additionally, the issues/risks that EXCEL partners had identified was reviewed according to low, medium, and high corporate and stakeholder important, which generated a list of 58 major issues. The issues were then grouped based on similarities and the lowest impact issues were removed. A list of 13 key material issues faced by EXCEL partners was then created. Based on the magnitude of impact/importance to the corporation and magnitude of impact/importance to stakeholders (where 1= low, 2=medium and


Figure 1: Corporate Vs. Stakeholder Importance Radar Map of EXCEL Partner Key Issues/Risks

0

1

2

3Employees

GHGs / Climate Change

Community Development

Governance, Ethics, Transparency

Water

Air Emissions

Human RightsHealth & Safety

Economic Benefits

Biodiversity

Land Use Management

Aboriginal Relations

Waste

Company Importance

Stakeholder Importance

EXCEL Member HighlightsIn an effort to understand more deeply how EXCEL members are dealing with and integrating longer-term emergent risks, opportunities and stakeholder issues into their sustainability strategies, we interviewed Bombardier and Bell. The following is a summary of the interviews:

Bombardier has a long product development cycle (7-10 years) and by the nature of their business must consider longer-term risks in order to ensure that their current and future products are properly prepared for future regulations, resource constraints, geopolitical issues, and stakeholder concerns.

Identifying Emerging Risks:Bombardier has the following systems currently in place to identify longer-term emerging risks:

1. Design for Environment Business Unit (within Core Engineering at early design stage): An Environmental Intelligence Quarterly has been created which summarizes emerging issues (compliance, geopolitical issues, trends) around the world and sent out to 500-600 employees. It serves as an early warning system. This initiative has been so successful that the Technology group has emulated the quarterly in order to identify emerging issues with regards to technology.

2. Business Intelligence System: This is a system which conducts an overall competitor analysis and key environmental (including


Integrated into Sustainability

Strategy

Once emergent issues and risks have been identified, they are included within the Business Management System which helps the Corporate CSR Committee to identify and prioritize major risks. Then it is critical to include these priority issues into the Balanced Score Card to ensure that the risk is being managed and to demonstrate performance.

Ongoing Efforts:

1. Streamlined Process across Organization: Although there are processes and people throughout the organization to identify longer-term emerging risks, the process is not completely consistent and streamlined throughout the company. This is something Bombardier would like to work towards.

2. Putting Longer-Term Risk on the Rader: Sometimes getting the Senior Team to see an issue as a longer-term risk can be difficult. Robust information and data is critical in helping to build an argument and strong business case in order to educate (and re-educate) some of the Senior Team to ensure that it gets onto the radar.

3. Current Emerging Risks on the Radar: Human rights within the downstream supply chain, conflict minerals, product responsibility/end-of life.

Bell proactively looks at emerging risks, opportunities, and stakeholder issues through a robust system that helps them to identify major risks, assess them, evaluate the importance to stakeholders, and then integrate them into the sustainability strategy where necessary.

Identifying Emerging Risks:


Bell proactively looks at emerging risks, opportunities, and stakeholder issues through a robust system that helps them to identify major risks, assess them, evaluate the importance to stakeholders, and then integrate them into the sustainability strategy where necessary.

Identifying Emerging Risks:

1. Global e-Sustainability Initiative: Bell is an active participant in an International ICT Business Partnership. In 2006-2007 this group collaboratively identified a list of 42 actual and potential emergent sustainability issues/risks. Each of the participating companies had to take this list and assess which ones were relevant for their business. Bell took these issues and created internal focus groups to understand which ones were important for the success of the company and which ones would be important to stakeholders.

2. 2007 Broader Stakeholder

Integration into Sustainability Strategy:

1. Risk Advisory Group: If the Sustainability Leadership Team notices pressure building up in any of the 42 key issues/risks or others that have been identified, they provide a brief for the Risk Advisory Group. The Corporate Responsibility team and the Risk Advisory Group then conduct a joint assessment of the risk in order to determine financial, reputational and operational impacts using a risk matrix approach and differing scenarios. The Subject Matter Experts and applicable Business Units are consulted to ensure accuracy. The joint evaluation with the Risk Advisory Group allows for an alignment with the Enterprise Risk Management framework (managed by the Risk Advisory Group), in order to ensure that there is proper uniformity and risk characterization within the evaluation criteria. The results of this evaluation is a ‘heat map’ which is presented to the Committee of Officers (Committee of Executive VPs) in order to keep track of the evolution of these risks. The Committee, in collaboration with relevant SMEs and Business Units, will then decide if (sustainability) policies, strategy, processes, or programs need to be tweaked or improved and then the appropriate budget can be allocated to manage the issue/risk.

2. Enterprise Risk Management: In parallel to the above process, the Risk Advisory Group assesses and reports to the Board the top business issues and risks to the corporation. One of the 5 categories of Bell’s risk universe is Governance and Responsibility. Top risks identified through the above sustainability risk assessment are incorporated into the Enterprise Risk Management report to the Board.

Ongoing Efforts:


Integration into Sustainability Strategy:

1. Risk Advisory Group: If the Sustainability Leadership Team notices pressure building up in any of the 42 key issues/risks or others that have been identified, they provide a brief for the Risk Advisory Group. The Corporate Responsibility team and the Risk Advisory Group then conduct a joint assessment of the risk in order to determine financial, reputational and operational impacts using a risk matrix approach and differing scenarios. The Subject Matter Experts and applicable Business Units are consulted to ensure accuracy. The joint evaluation with the Risk Advisory Group allows for an alignment with the Enterprise Risk Management framework (managed by the Risk Advisory Group), in order to ensure that there is proper uniformity and risk characterization within the evaluation criteria. The results of this evaluation is a ‘heat map’ which is presented to the Committee of Officers (Committee of Executive VPs) in order to keep track of the evolution of these risks. The Committee, in collaboration with relevant SMEs and Business Units, will then decide if (sustainability) policies, strategy, processes, or programs need to be tweaked or improved and then the appropriate budget can be allocated to manage the issue/risk.

2. Enterprise Risk Management: In parallel to the above process, the Risk Advisory Group assesses and reports to the Board the top business issues and risks to the corporation. One of the 5 categories of Bell’s risk universe is Governance and Responsibility. Top risks identified through the above sustainability risk assessment are incorporated into the Enterprise Risk Management report to the Board.

Ongoing Efforts:

3. Identifying and Managing Emerging Risks

A recent study conducted by the Financial Times in 2010, of 650 international Corporate Executives with $1 Billion dollars in revenue or more, found that 62% of those companies surveyed rated their company as moderately effective or ineffective at integrating emerging risk information into business decision making. In addition the study found that:

► Few Companies Focusing on Emerging Risks: Less than 10% of respondents are focusing on potential threats that are seemingly unrelated to their businesses like climate change and pandemics.

► Board of Directors not Informed: Less than one-third of executive committees and members of boards of directors receive information on emerging risks on an inconsistent basis.

► Strategy Groups not Connected Well to Risk

The study highlights that corporations may be inadequately prepared for emerging risks thus reducing the long-term resiliency of a corporation. The following section will attempt to characterize emerging risks, outline drivers for addressing these risks, identify some current global trends, and identify a framework to ensure that emerging risks are


The study highlights that corporations may be inadequately prepared for emerging risks thus reducing the long-term resiliency of a corporation. The following section will attempt to characterize emerging risks, outline drivers for addressing these risks, identify some current global trends, and identify a framework to ensure that emerging risks are

Multi-Stakeholder Impacts: Impacts affect not only the organization by multiple parties (peers, competitors, geographic regions, differing stakeholders, and/or sectors).

High Degree of Uncertainty: Difficult to predict events beyond normal scenarios.

Low Degree of Control: Difficult for any one party

3 Financial Times and Wynman, Oliver. 2010. Global Emerging Risk Survey: Steering the Course, Seizing the Opportunity. Sourced: March 18, 2013.

Key Drivers: Key drivers of the changing risk landscape include new economic, technological, socio-political and environmental developments as well as the growing interdependencies between them which can lead to an increasing accumulation of risk. In addition, there is a changing business environment to consider: liability and regulatory regimes continue to evolve, stakeholder expectations are strengthening and risk perception shifting4. Companies should be considering these risks for the following reasons:

Reduces uncertainty and financial costs of risk exposure;

Shifts reactive approach to anticipatory approach;

Translates high uncertainty into quantifiable measures;

Increases competitive advantage; Translates risks into opportunities; and, Increases the overall resiliency of the

organization in turbulent environmental, social, and economic times.

Major Global Emerging Risk Trends:

For the last seven years, the World Economic Forum (WEC) assesses global risks with a 10-year outlook. First a set of 50 high priority risks—divided into five categories: economic, environmental, geopolitical, societal and technological risks—are revised and identified through multi-stakeholder interviews and workshops. Then a larger group of experts (469 respondents) are survey to assess the likelihood and impact on a scale of 1-5. Respondents are also asked to identify which risk is the major risk within its category or as the WEC classifies it as a major, “Centre of Gravity.” For 2012 the 5 major risks are as follows (See Figure 2):

http://media.swissre.com/documents/Global-Risks-Report-2012.pdf

http://commerce.depaul.edu/sev/docs/Risk_Roundtable_Materials/OW_EN_CR_PUBL_2010_Emerging_Risks.pdf


Major Economic Risk: Chronic fiscal imbalances

Major Environmental Risk: Greenhouse gas emissions

Major Geopolitical Risk: Global governance failure

Major Society Risk:

4 Swiss Re. Key Drivers for Identifying Major Risks. http://www.swissre.com/rethinking/emergingrisks/emerging_risks.html Sourced: February 26th, 2013

http://www.swissre.com/rethinking/emergingrisks/emerging_risks.html

Figure 2: Global Risk Map 20125


A Framework for Integrating Emerging Risks:

As evidenced above, there may be a lack of discipline, integration, and rigor around the identification and management of emerging risks. If this is true, then it is important for companies to have a framework by which the can organize their efforts. The following framework (Figure 3) is based on the body of research conducted for this spotlight including current EXCEL efforts to manage emerging risks.

5 World Economic Forum. Global Risks 2012, Seventh Edition. http://media.swissre.com/documents/Global-Risks-Report-2012.pdf Sourced: February 28, 2013.


Figure 3: A Framework for Identifying, Integrating and Managing Emerging Risk


1. Identify Emerging Risks

Identification of emerging risks is the key first step in understanding how exposed your organization is to major global trends and uncertainties. The following is a systematic approach to ensure that risks are being identified and summarized regularly.

► Assign Responsibility and Accountability: There should be dedicated team across the organizations business functions tasked with the responsibility of regularly researching, identifying, and summarizing major emerging global trends and risks. Since issues of sustainability risk affect multiple business units within the organization, a cross-functional approach should be taken; however, the sustainability team in collaboration with the risk management group should be leading emerging risk identification and assessment efforts. If no such leading committee or group has this responsibility, one should be developed. Efforts should be made to align emerging risk identification and assessment with current risk management approaches in order to ensure that the evaluation criteria are robust and uniform.

► Conduct Research: There should be Subject Matter Experts throughout the organization that regularly conduct research into emerging global trends and risks. They should be characterizing and summarizing these risks and filter them into a leading team (as described above) which helps to collate and centralize the information gathered. There are many resources and organizations that already identify and characterize global trends and risks and they should be used in order to help increase efficiencies ( World Economic Forum-Risk Response Network, World Resource Institute, World Business Council for Sustainable Development, United Nations Environment Programme).

Continuous Improvement

http://www.unep.org/publications/default.asp

http://www.wbcsd.org/home.aspx

http://www.wbcsd.org/home.aspx

http://www.wri.org/

http://www.weforum.org/community/risk-response-network


3. Prioritize Emerging Risks:

After a consistent method of assessing emerging risks has been applied, a process for prioritizing risks will to need to be developed. This typically has an internal focus of weighing magnitude, relevance, and importance to the company and an external focus which tests how important key issues/risks are for stakeholders. WRI has also developed a Sustainability SWOT Analysis (sSWOT), which uses a conventional business tool in order to help prioritize emerging sustainability risks.

► Develop and Align Evaluation Criteria: Develop a set of evaluation criteria in order to help assess the emerging risks. It will be important to gather an understanding of how risk is currently being assessed throughout the organization and to ensure that there is uniformity across business units so that the assessment of emerging risks is consistent with other risk evaluation criteria, protocols, materiality testing, and management systems with the company.

► Evaluate Emerging Risks: There are already many

► Integrate Prioritization with Current Materiality Assessments: Most sustainability teams have a good understanding of how to assess materiality due to the significant achievements and standardization of sustainability reporting. Materiality testing within sustainability strategy and reporting is increasingly becoming important to determine Key Performance Indicators. This is evidenced by the upcoming changes to GRI G4 Guidelines in which materiality testing will become the basis for reporting parameters replacing the

https://www.globalreporting.org/resourcelibrary/G4-ED-PCP2-FAQs.pdf

http://www.wri.org/publication/sswot-sustainability-swot-user-guide

http://www.wri.org/publication/sswot-sustainability-swot-user-guide


6 CSR-Reporting. The GRI G4 Exposure Draft explained. http://csr-reporting.blogspot.ca/2012/07/gri-g4-exposure-draft-explained.html. Sourced: February 2013. 7 EPA, Ceres. FRP Guide to Stakeholder Engagement. November 2007. http://www.ceres.org/resources/reports/facility-reporting-project-guide-to-stakeholder-engagement Sourced: February 2013.8 Adapted from ISO 26000 and EPA

1. Who is likely to have influence and/or decision-making power? (This is increasingly becoming more relevant in the globalized digital era.)

2. To whom does the organization have legal/financial obligations?3. Who might be positively or negatively affected by the organization's decisions or

activities?4. Who is likely to express concerns about the decisions and activities of the

organization?5. Who is an intended audience of the company’s policies or value statements?6. Who has been involved in the past when similar concerns needed to be addressed?7. Who can help the organization address specific impacts?8. Who can affect the organization's ability to meet its responsibilities?9. Who would be disadvantaged if excluded from the engagement?10.Who in the value chain is affected?

Figure 4: Key Questions in Determining New and Emerging Key Stakeholders:

4. Communicate Priority Key Risks

In a report issued by the Financial Times, it appears that many corporations still struggle with how to communicate emerging risk-related information effectively (See Figure 5). Once key emerging risks have been prioritized and

http://www.ceres.org/resources/reports/facility-reporting-project-guide-to-stakeholder-engagement

http://www.iso.org/iso/home/standards/iso26000.htm



http://csr-reporting.blogspot.ca/2012/07/gri-g4-exposure-draft-explained.html


4. Communicate Priority Key Risks

In a report issued by the Financial Times, it appears that many corporations still struggle with how to communicate emerging risk-related information effectively (See Figure 5). Once key emerging risks have been prioritized and


5. Manage Emerging Risks

It is important that once an emerging risk becomes a priority that it is incorporated into strategic planning efforts so that it can be monitored and managed. Where possible, transferring an emerging risk into an opportunity can usually translate into competitive advantage. The following are some examples of how organizations manage emerging risks:



5. Manage Emerging Risks

It is important that once an emerging risk becomes a priority that it is incorporated into strategic planning efforts so that it can be monitored and managed. Where possible, transferring an emerging risk into an opportunity can usually translate into competitive advantage. The following are some examples of how organizations manage emerging risks:

1. Prevent: e.g. use management systems in order to help prevent the risk from occurring, ISO 14011, H&S Management Systems, etc.

2. Avoid: e.g. do not purchase high risk properties, businesses and/or eliminate high risk suppliers, change the way you do business.

3. Remove: e.g. remediate sites, engage with stakeholders to find collaborative solutions in order to gain license to operate, change the way you do business.

4. Transfer: e.g. hedge, purchase insurance, purchase offsets, etc. 5. Adapt: e.g. develop climate adaptation plans, change the way you do

business.

6. Monitor Emerging Risks

In order to fully integrate emerging risks into strategic planning it is important that a system of continuous improvement and monitoring is established. There are three things that should be monitored within this system:

1. Identify New Emerging Risks: A system for escalating new emerging risks into the evaluation framework should be established throughout the organization, with the appropriate responsibilities and accountabilities assigned.

2. Monitor Risk Profile of Priority Emerging Risks: Of the emerging risks that have been identified, it will be important to establish KPIs that monitor how the risk is being managed. Aligning risk measures with current KPIs ensures that information is more easily

4. Conclusion: How Resilient is Your Company?

The world we live in has become increasingly turbulent, volatile, and uncertain. Many companies are not adequately

10 World Economic Forum. Global Risks 2012, Seventh Edition. http://media.swissre.com/documents/Global-Risks-Report-2012.pdf Sourced: February 28, 2013.



4. Conclusion: How Resilient is Your Company?

The world we live in has become increasingly turbulent, volatile, and uncertain. Many companies are not adequately

Over the last decade, corporations have become very sophisticated in identifying shorter-term sustainability risks, opportunities, material issues and stakeholder concerns. Companies are looking at these risks through traditional financial risk frameworks; but it is very uncertain how risk due diligence undertaken in sustainability strategizing is considered in these traditional risk management frameworks. Furthermore, sustainability strategy has become too short-term focused in order to demonstrate a high rate of return on investments and therefore be competitive with other business units.

There is a strong argument that long-term emerging risk

The following are a set of key recommendations to help build capacity within your organizations in order to deal with the complexity and uncertainty of long-term emerging risks:

1. Understand Value Drivers: Understand key value drivers of assessing emerging risks and link to the overall corporate values.

2. Align Risk Evaluation and Performance Measures: Align current risk evaluation efforts with emerging risk identification/assessment. In addition, risk metrics should be aligned with key corporate performance measures to help ensure there is an integrated approach across multiple business units.

3. Assign Responsibility and Accountability: Ensure that there is a cross-functional approach to emerging risk identification and assessment. The Sustainability Team may be a natural lead in coordination with the Risk Management Group.

4. Continuously Monitor and Re-evaluate: Continuously monitor emerging risks and use multiple tools to help assess and characterize the risk.

Intelligent businesses of the future will have this capacity.

How resilient is your company?

Please see Figure 6 which provides a brief questionnaire to assess how resilient your corporation is with regards to emerging risks.

Figure 6: Questionnaire

EXCEL Questionnaire: How Resilient is your Corporation?

Question: Yes No Notes:


Figure 6: Questionnaire

EXCEL Questionnaire: How Resilient is your Corporation?

Question: Yes No Notes:




EXCEL Contact Details

The GLOBE Foundation of Canada

World Trade Centre

Suite 578999 Canada Place

Vancouver, British Columbia, V6C 3E1 Tel: (604) 695-5001 Fax: (604) 666-8123 Web: www.globe.ca Email: [email protected]

EXCEL Secretariat: The Delphi Group

428 Gilmour StreetOttawa, OntarioCanada, K2P OR8

Tel: 613-562-2005


EXCEL Member

Issues / Risks Identified

Risks Assessed / Quantified

Stakeholder Tested / Stakeholder Feedback

Integration with Enterprise Risk Management

Priority Material Issues

Bell Through Participation in Global e-Sustainability Initiative (industry /stakeholder group)

Risks are assessed, but quantification is not specified. Includes:

Trend analysis, Benchmark

studies, Monitoring of

CR performance

Stakeholder feedback

Part of the risk identification and risk assessment process

Not specified Risk assessment process leads to identified CR KPIs

Bentall Kennedy

Interviews with global opinion leaders, academics, and clients used to understand material issues for reporting

Interviews with key senior management staff

Not clearly specified

Part of risk identification process/

Stakeholder feedback on reporting

Comprehensive risk management includes strategic, operational, financial, social, environmental risks

Few specifics provided

Not specified, although key issues can be inferred from identified risks and priorities

Bombardier

Internal interviews with subject matter experts

Informed through stakeholder engagement process to identify issues of concern for stakeholder groups

Issues prioritized base on:

Stakeholder expectations and interests

Performance in a wider sustainability context

Economic, social and environmental impact around the world

Materiality topics and indicators that reflect our impact and influence on our stakeholders

Stakeholder engagement process helps identify key issues of importance

In 2012 formal stakeholder surveys will focus on CSR priorities to refine materiality matrix

Not specified CSR Reporting Committee maps the results of the internal prioritization review onto a matrix of stakeholder importance v. impact on company over 3-5 years

Materiality matrix seems focused on reporting

Cenovus Research to identify key issues – industry reports, reporting guidance

Support from external

Multi-stakeholder workshop to prioritize identified issues

Evaluated based on stakeholder interest and

Reporting assessment was conducted as a stakeholder exercise

Stakeholders prioritized issues according to both

Facilitated

Not specified Stakeholder workshop resulted in a reporting materiality matrix: stakeholder interest v. business impact (low – high)


Bentall KennedyIdentified Challenges and Opportunities:

► Reputation► Environment

Transportation Increased transparency demands Improvements to multi-residential properties Water Climate Change

► Tenants Technology and demographics Green Buildings

► Clients - engagement► Suppliers and Contractors - engagement► Communities – engagement► Employees

Changing demographics Diversity Measurement and communication

Bentall Kennedy’s comprehensive risk-management approach focuses on strategic, operational, financial, social and environmental risks – each with its own risk-assessment framework. On an ongoing basis, senior management identifies


Bentall KennedyIdentified Challenges and Opportunities:

► Reputation► Environment

Transportation Increased transparency demands Improvements to multi-residential properties Water Climate Change

► Tenants Technology and demographics Green Buildings

► Clients - engagement► Suppliers and Contractors - engagement► Communities – engagement► Employees

Changing demographics Diversity Measurement and communication

Bentall Kennedy’s comprehensive risk-management approach focuses on strategic, operational, financial, social and environmental risks – each with its own risk-assessment framework. On an ongoing basis, senior management identifies

Bombardier

Most Material Issues:


Bombardier

Most Material Issues:

Cenovus


Cenovus

DuPont

As part of the 2012 Sustainable Growth Review process we used a materiality analysis framework as a way to rank and prioritize sustainability trends for each business. Criteria that were used in our Sustainable Growth Review process to rank and prioritize the sustainability trends in relation to each other included: impact to business success (profitability, product acceptance, market demand, right to operate, ability to implement business strategy) and importance to stakeholders (employees, customers, community, shareholders, NGOs, government).

Stakeholder Engagement Activities► Global employee surveys► Community Advisory Panels or interaction processes in place for almost every DuPont plant site around the

world► Biotechnology Advisory Panel► Health Advisory Board► Partnerships on global climate change with the World Resources Institute, Environmental ► Defense, The Pew Center for Global Climate Change and the Keystone Center► Partnership on nanotechnology with the Environmental Defense► Partnerships and collaborations with key science and technology organizations, institutions, and individuals to

enhance societal value► Ongoing discussions with the investment community, including the annual Investment ► Community meeting and DuPont Business Review Teleconference Series

The development of Sustainable Growth goals were guided by the DuPont sustainable growth mission, key interests expressed by stakeholders, relevant regulatory requirements, and concerns expressed by society


DuPont

As part of the 2012 Sustainable Growth Review process we used a materiality analysis framework as a way to rank and prioritize sustainability trends for each business. Criteria that were used in our Sustainable Growth Review process to rank and prioritize the sustainability trends in relation to each other included: impact to business success (profitability, product acceptance, market demand, right to operate, ability to implement business strategy) and importance to stakeholders (employees, customers, community, shareholders, NGOs, government).

Stakeholder Engagement Activities► Global employee surveys► Community Advisory Panels or interaction processes in place for almost every DuPont plant site around the

world► Biotechnology Advisory Panel► Health Advisory Board► Partnerships on global climate change with the World Resources Institute, Environmental ► Defense, The Pew Center for Global Climate Change and the Keystone Center► Partnership on nanotechnology with the Environmental Defense► Partnerships and collaborations with key science and technology organizations, institutions, and individuals to

enhance societal value► Ongoing discussions with the investment community, including the annual Investment ► Community meeting and DuPont Business Review Teleconference Series

The development of Sustainable Growth goals were guided by the DuPont sustainable growth mission, key interests expressed by stakeholders, relevant regulatory requirements, and concerns expressed by society

Enbridge

Enbridge Economic Materiality Matrix


Enbridge

Enbridge Economic Materiality Matrix

Enbridge Environmental Materiality Matrix


Enbridge Environmental Materiality Matrix

Enbridge Social Materiality Matrix


Enbridge Social Materiality Matrix

Holcim


Holcim

Nexen


Nexen

Suncor


Suncor

Teck


Teck

2013_v8.docx · web viewcompanies should investigate these risks because of the potential...

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