Risk Assessment and Environmental Impacts: Economic and Social Implications

Abstract

Risk Management is the identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. In order to consider the environmental sustainability aspects, risk management is a business strategy that aligns profit goals with a company's environmental policies. The objective of this work has to develop a framework for the identification of the hotspot in the business activities where it is useful to use risk assessment in a global sustainability strategy. The method used for data and experiences collected is based on qualitative analysis of different sources of information. In conclusion, the framework developed in this research adheres to the criteria and lends itself to be one of the suitable tools to implement a comprehensive business strategy based on the risk management.