Course Description

This course draws extensively from COSO ESG risk guidance that was developed between COSO and WBCSD. Metis was commissioned to convert this guidance into training materials, subsequently delivering workshops for WBCSD members on embedding ESG in enterprise risk management (ERM).

The course will cover methods for identifying and assessing ESG risks, including climate change, social issues, and governance challenges. Additionally, we will share case studies of organizations that have faced significant ESG-related risks, detailing how they were managed and the outcomes. This course is also timely, with ESG risk rising on corporate agendas due to the detailed risk requirements of IFRS S1, S2 and how S3 is developing.

Directors will learn the practical approaches to integrate ESG risks into strategic decision-making and risk management processes, ensuring that the organization is better prepared to manage and capitalize on ESG-related opportunities and challenges and enhancing organizational resilience.

Objectives

•     Understand the significance of integrating ESG risks into enterprise risk management according to COSO ESG risk guidance.

•     Evaluate the financial and operational impacts of ESG risks and compliance requirements.

•     Oversee and guide the integration of ESG risks into the organization's ERM framework.

•     Develop strategic insights and recommendations for aligning ESG considerations with corporate governance and strategy.

Course outline

I.         Understanding ESG Risks

a.   Overview of ESG risks and their relevance to corporate strategy

b.   How to integrate ESG into enterprise risk management

c.    Ensuring alignment between ESG considerations and corporate strategy

d.   The business cases for managing ESG risk

II.       Metrics, Target and Performance

a.   Relevant ESG metrics and alignment with strategy

b.   Embedding ESG into performance measurement

c.    Key features of ESG assurance and the assurance process

d.   Types of ESG assurance and key developments

III.     Governance and Oversight

a.   Regulatory changes and responsibilities on ESG

b.   Role of the board in overseeing ESG risk integration