Enterprise risk management perspective

Abstract

Global warming has become a highly concerned issue in enterprise risk management (ERM) and corporate sustainability practices in the business management. Enterprise risk management and corporate sustainability are directly linked with climate change and global warming. Global warming-based results are affected by business risks and their handling priorities. Because risks are verified and increased by global warming, they impact both our world and the business. Also, global warming-based impacts can have effect on corporate sustainability. In this concept, global warming should be considered as part of enterprise risk management issue and sustainability practices. The consequences of the global warming-based risks are threats for sustainability of our world. In this study, enterprise risk management-based framework has been developed to support managing-related risks and promote corporate sustainability risk efforts in the business management. Implementation of such models and getting results takes as much as 5 or 6 years in optimum period. For this reason, basic framework is given in this study. Further work is planned for implementation of this model in specific business sector as a real world situation. Also, this model based on 'enterprise risk model to corporate sustainability model' has been developed by Kucuk Yilmaz and Yilmaz (2008).