This blog series looks at the role of insurance in ensuring positive change — including helping to ensure a smooth energy transition, underpinning finance for green infrastructure, and mitigating the costs of the increased climate-related risks we are still set to see.

Risks associated with the pandemic have changed the risk profile of the world. While the disease and pandemics don’t make it into the top five risks of the 2021 Airmic survey, risk connectivity means that every risk in the Airmic top ten has been and continues to be touched by the pandemic and its systemic effect.

The reality is that if you’re not going to assess your ESG risk, someone else will. We anticipate that ESG will in time become part of the regular risk management and reporting of all organisations – some more swiftly than others. Now is the time for you to bring your ERM expertise into the ESG strategy conversations.

Part of the Airmic EXPLAINED series of guides, this guide provides an introduction to the concept of risk appetite and addresses the myths, and the links with culture, maturity and sustainability. Defining and implementing risk appetite (often also referred to as a risk attitude) is a strategic activity that involves the Board and top management, as it must be aligned with strategic objectives, and requires consensus and engagement from the organisation’s leadership. This guide is essential reading for those new to the risk management profession, or for those who find themselves with a responsibility for risk management as part of a wider role.