Climate Change Risk Assessment Software
Climate change vulnerabilities have never been a greater concern than they are now. On top of that, if you lack a robust climate change risk management program, you could be missing out on ESG qualifications or investment opportunities. Make sure your business stays on top of (and ahead of) this critical subset of risks by leveraging our comprehensive Climate Change Risk Assessment solution package.
Why a Risk-Based Approach to Climate Change is important:
LogicManager’s Climate Change Risk Assessment Solution
Here’s what you can expect with LogicManager’s Climate Change Risk Assessment solution package:
- Start off on the right foot using our suggested Climate Change risks built on guidance from the PEW Center on Global Climate Change as well as the NYDFS.
- Leverage our Content Hub for the most up-to-date version of ESG principles, frameworks and standards and compare what you’re doing to otehrs in your sector along the way.
- Increase engagement across your enterprise by sending out direct tasks with email integration to the people closest to the operations and involved with the climate change processes.
- Continually strengthen your organization through the mitigations that are born out of your climate change assessment.
- Test the effectiveness of these controls by assigning monitoring tasks to users who will provide crucial qualitative, quantitative and event-driven data.
- Take advantage of our out-of-the-box regulatory change notification form so that information can be shared with whomever needs to be involved.
- “Bookmarking” allows you to save the scores of every risk assessment to draw comparisons and see the improvements you’ve made to your processes over time. This also provides an accurate record to regulatory agencies and auditors to satisfy legal compliance requirements.
- Through your subscription, access strategic and best-practice advice from our expert Advisory Analysts. Our team is here to help you organize and strengthen your ERM and compliance program and use LogicManager to its fullest potential.
- Make links and references from your climate risk assessments to different verticals and horizontals within your organization. This helps you better understand the impact of these risk assessments. LogicManager’s GRC platform helps you visualize interdependencies across other activities at your organization, enabling you to work more efficiently and effectively.
- Show leaders, customers, investors and ESG rating platforms that you have a strong ESG program in place through our robust reporting engine.
- Access a wide range of out-of-the-box risk reports, including a variety of heatmaps and plan-specific reports that can be customized and scheduled on a set frequency.
- Our ESG Readiness Dashboard displays your status with any ESG framework so you’re always up to date on your status.
- Our Policy Portal makes it easy to view all of the policies you have in one place that are supporting your alignment with environmental best practices.
Achieve your Climate Change Risk & Vulnerability Assessment with LogicManager
Prepare for disasters
Within LogicManager, develop business continuity plans and disaster recovery tests that keep your organization prepared for natural disasters and weather events. Leverage all your information in one centralized repository.
Stay ahead of the curve
LogicManager helps you stay on top of changes in environmental regulations. This will prevent you from being caught off guard and help you avoid penalties associated with noncompliance.
Demonstrate a positive brand image
Implementing a robust solution for assessing the risks associated with climate change demonstrates your commitment to going green. This can help you maintain a positive image and brand.
What is a Climate Change Risk Assessment?
Responding to changes in environmental regulations should be a proactive and ongoing process. Not only does it help you avoid financial and reputational costs, but more importantly it keeps you prepared for natural disasters and weather events. Linda Lacewell of the New York Department of Financial Services (NYDFS) summed up the importance of expecting the unexpected: “As the global public health pandemic of COVID-19 has made clear, preparation is key to addressing systemic risks. By the time a crisis occurs, it is simply too late.”
Just recently, the NYDFS sent out a letter asking organizations to start integrating the financial risks from climate change into their governance frameworks, risk management processes and business strategies. This warrants the need to conduct a risk assessment of the physical and transition risks of climate change. LogicManager’s Climate Change Risk Assessment solution package is designed to do just that.
There are significant financial penalties associated with noncompliance with environmental regulations. As a result of the Clean Air Act, Gulf Oil and George E. Warren paid penalties of $7.5 million for violating reporting requirements.
Failing to meet these requirements can also create a negative image for your brand; and a negative reputation is incredibly hard to recover from. Climate change is becoming a growing concern with each passing year, and today more than ever, consumers tend to choose vendors that align with their personal beliefs.
What you can’t measure, you can’t change. Performing a climate change risk assessment inherently helps you hold your business accountable, identify emerging risks and notice areas for improvement. Failure to examine your organization under this critical lens leads to failure to examine areas for improvement for your business, which ultimately hinders your success and can lead to serious risk events materializing.