Management of green risk within attaining sustainable development goals

Abstract

The paper explores the critical role of green risk management in achieving sustainable development goals (SDGs) within companies. As businesses increasingly recognize the significance of sustainability, they are confronted with various environmental, regulatory, and reputational risks that can impact their journey towards sustainability. Effective management of these green risks is imperative to ensure that companies not only meet their sustainability objectives but also contribute to broader societal and economic goals. The study used the COSO ERM methodology to select indicators for the assessment of green risk management efficiency at the company. The paper emphasizes the need for companies to integrate sustainability into their core strategies and operations. It highlights the importance of assessing and prioritizing green risks, staying compliant with evolving environmental regulations, building resilient supply chains, investing in green technologies, engaging stakeholders, and developing robust risk mitigation strategies. Moreover, transparent reporting is emphasized as a means to enhance accountability and trust among stakeholders.