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Social Sustainability
from 2022 OnRisk Report
Definition:
Increasingly, there is a recognition that organizations have significant influence on individuals who they employ, who work in their value chain, who consume their products and services, and who live in their communities. This risk examines the ability of organizations to understand and manage the direct and indirect impacts their actions have on individuals and communities.
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Analysis:
Among the key risk management players, there is very strong alignment on the risk relevance and perception of organizational capability for this fast-emerging risk that touches all industries. However, the CAE group significantly lags behind its stakeholder groups related to personal knowledge of this risk.
KNOWLEDGE AND CAPABILITY
Percentage who gave a rating of 6 or 7 on a scale of 1 to 7
RISK STAGE
Develop – New to OnRisk
RISK RELEVANCE
Percentage who gave a rating of 6 or 7 on a scale of 1 to 7
– Social Sustainability
Quote:
“Sustainability is going to be an absolute imperative in order to preserve, maintain, and grow wealth. This is like any other investment in business. These investments need to be made in order to protect and sustain the value that’s being created.” –Board, Finance
