The journey from a voluntary regime for companies around environmental, social and governance (ESG) topics to a more regulated and compulsory one involving transparency, disclosure and reporting is well underway. Although there are currently no global, standardized ESG reporting benchmark requirements, “hard” law measures with “teeth” are on the rise. D&Os beware….
Over 170 ESG regulatory measures introduced since 2018 at the national and EU level. Europe accounts for around 2/3 of all ESG-related regulation
As investment decisions are increasingly influenced by this new environment, so too is the role of risk management and that of the board of directors.
Litigation or investor, shareholder and activist actions increasingly focus on ESG topics such as climate change, pollution, diversity, cyber security and even CEO pay
Elevating and identifying ESG risks through a business’ risk registers and committees and making sure it is understood how they will play out in and out of the boardroom, is crucial
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Source: Allianz Global Corporate & Specialty (AGCS) Africa
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The amount of ceded premiums withheld from the reinsurer by the ceding company in order to provide collateral security for the performance of the reinsurer’s obligations under the treaty. Also known as deposits withheld.