As well as the need to prepare for the physical impacts of climate change, Boards must help their organisations adapt to the requirements of new national and international laws and regulations that will embed sustainability in products and services.

Companies seek to seize and deliver on opportunities that create long-term value that are aligned to their purpose. But every opportunity and every action (or inaction) has an associated risk. Investing is as much about assessing the risk as the related opportunity. This means that all organisations have a story to tell on these topics to investors, regulators and other stakeholders. But is this story clear, is it connected and does it reflect the organisation’s processes?

Companies are moving to a risk-based cybersecurity stance. The approach recognises that not all assets are created equal, nor can they be equally protected in today’s all-encompassing digital environment. Some assets are extraordinary—of critical importance to a company and its business. The digital business model is, in fact, entirely dependent on trust. If a company’s customer interface is not secure, the risk can become existential. Safeguarding such assets is the heart of an effective strategy to protect against cyberthreats.

A broken link in the supply chain can lead to severe disruption and is a risk only partially protected by insurance. With events of the last two years still presenting challenges for businesses, what more can they do to manage and mitigate supply chain risk?