2018

ISO 31000:2018 – risk management guidelines

PECB The ability of predicting what the future holds and choosing effectively among varying alternatives lies at the center of contemporary societies and organizations. Risk management helps us navigate over a broad range of decision-making processes, from making investment decisions to safeguarding our health, from waging war to planning families, from paying insurance premiums to wearing a seatbelt when we […]

12 Principles of Good Governance and European Label of Governance Excellence (ELoGE)

Source: Council of Europe Good Governance – the responsible conduct of public affairs and management of public resources – is encapsulated in the Council of Europe 12 Principles of Good Governance. The 12 Principles are enshrined in the Strategy on Innovation and Good Governance at local level, endorsed by a decision of the Committee of Ministers of the Council of Europe in […]

An energy transition risk stress test for the financial system of the Netherlands

De Nederlandsche Bank Almost 200 countries have signed the Paris Agreement: a pledge to keep the global temperature rise well below 2 degrees Celsius. To realize this pledge, global greenhouse gas emissions will need to be reduced substantially. This, in turn, requires a global transition to a low-carbon economy and energy system. Such an energy transition may give rise to shocks that […]

PRIMO and UDITE proceed in new cooperation

Paul Gatt,  President of UDiTE – the European Association for Local Government Chief Executives – and Jack Kruf, President of PRIMO Europe – the European Public Risk Management Organisation – signed a cooperation  agreement for 2019 and 2020 during a common conference on the essentials of city management (in European context), and board meetings executive meeting of both organisations held in […]

What Successful Public-Private Partnerships Do

Elyse Maltin | Harvard Business Review Despite spending $2.5 trillion a year on roads, railways, ports, water, and other public infrastructure projects, countries around the world are still falling far short of what they need to invest, according to one estimate. Thus, it’s no surprise that there is renewed interest in public-private partnership (P3) projects, where businesses supplement public investment […]

John Kerry: Forget Trump. We All Must Act on Climate Change.

Source: The New York Times This week is the third anniversary of the Paris climate agreement. The Trump administration marked it by working with Russia and Gulf oil nations to sideline science and undermine the accord at climate talks underway in Katowice, Poland… …Future generations will measure us by whether we acted on facts, not just debated or denied them. […]

Climate change: Where we are in seven charts and what you can do to help

Source: BBC Representatives from nearly 200 countries are gathering in Poland for talks on climate change – aimed at breathing new life into the Paris Agreement. The UN has warned the 2015 Paris accord’s goal of limiting global warming to “well below 2C above pre-industrial levels” is in danger because major economies, including the US and the EU, are falling […]

Emissions Gap Report 2018

Foreword by Joyce Msuya, Acting Executive Director United Nations Environment Programme “The world is at last beginning to tackle its fossil fuel addiction. Coal is no longer competitive, and wind farms and solar installations are gathering pace – in Australia, northern Europe, China, India and elsewhere. Electric mobility and ride sharing are redefining transport, especially in cities tired of breathing dirty air. Huge strides in energy efficiency are being […]

Daniel Kahneman: Your Intuition Is Wrong, Unless These 3 Conditions Are Met

Emily Zulz | Thinkadvisor At the World Business Forum, Kahneman explained when people can trust their intuitive judgment and when they shouldn’t. Can intuition play a role in investing? According to Daniel Kahneman, a Nobel Memorial Prize-winning behavioral economist, no. During a speech given at the World Business Forum in New York City, Kahneman explained when people can trust their intuitive […]

“Human beings are the biggest risk to innovations”

Inaugural lecture Mariëlle Stoelinga. The Dutch have no problem texting while cycling and are happy to install solar panels, but are troubled by nuclear energy and afraid of terrorist attacks. These are just a few situations in which people act and react based on intuition instead of reason. Because looking at the statistics, one can see that a terrorist attack […]

Cyber risk measurement and the holistic cybersecurity approach

McKinsey&Company. Comprehensive dashboards can accurately identify, size, and prioritize cyberthreats for treatment. Here is how to build them. Damaging cyberattacks and streams of suspicious digital communications have made cybersecurity a top concern of the world’s business leaders. So say the overwhelming majority of responding board members in a recent McKinsey survey. Their answers are further evidence that cyber risk is […]

Major Climate Report Describes a Strong Risk of Crisis as Early as 2040

By Coral Davenport | The New York Times. A landmark report from the United Nations’ scientific panel on climate change paints a far more dire picture of the immediate consequences of climate change than previously thought and says that avoiding the damage requires transforming the world economy at a speed and scale that has “no documented historic precedent.” Read more 

Summary for Policymakers of IPCC Special Report on Global Warming of 1.5°C

Incheon, Republic of Korea, October 8 – Limiting global warming to 1.5°C would require rapid, far-reaching and unprecedented changes in all aspects of society, the IPCC said in a new assessment. With clear benefits to people and natural ecosystems, limiting global warming to 1.5°C compared to 2°C could go hand in hand with ensuring a more sustainable and equitable society, […]

Value and resilience through better risk management

Source: McKinsey&Company Although the risk environment is growing more perilous and costly, leading companies are blazing a path to resilience and value by embedding strategic risk capabilities throughout the organization. Today’s corporate leaders navigate a complex environment that is changing at an ever-accelerating pace. Digital technology underlies much of the change. Business models are being transformed by new waves of […]

Large potential reduction in economic damages under UN mitigation targets

Source: Nature International climate change agreements typically specify global warming thresholds as policy targets, but the relative economic benefits of achieving these temperature targets remain poorly understood. Uncertainties include the spatial pattern of temperature change, how global and regional economic output will respond to these changes in temperature, and the willingness of  societies to trade present for future consumption. Here we combine historical […]

Why whistleblowers are crucial to risk compliance

Source: Inside Financial & Risk. The role of whistleblowers in UK companies is essential in order to establish a culture of risk compliance. What can firms do to ingrain a whistleblower culture within their firms and to protect the whistleblowers themselves? A recent case highlighted the importance of whistleblowers in UK companies and their role in reporting compliance and risk […]

Insider threat: The human element of cyberrisk

Tucker Bailey, Brian Kolo, Karthik Rajagopalan and David Ware | McKinsey&Company Cyber programs often miss the significant portion of risk generated by employees, and current tools are blunt instruments. A new method can yield better results. Insider threat via a company’s own employees (and contractors and vendors) is one of the largest unsolved issues in cybersecurity. It’s present in 50 percent […]

A decade after the global financial crisis: What has (and hasn’t) changed?

Source: McKinsey&Company The world economy has recently returned to robust growth. But some familiar risks are creeping back, and new ones have emerged. How secure is the global financial system, a decade after the crisis? Great strides have been made since 2008 to prevent a recurrence of the financial crisis and recession that followed. Yet there is more debt than […]

Losing Earth: The Decade We Almost Stopped Climate Change

Source: The New York Times. “This narrative by Nathaniel Rich is a work of history, addressing the 10-year period from 1979 to 1989: the decisive decade when humankind first came to a broad understanding of the causes and dangers of climate change. Complementing the text is a series of aerial photographs and videos, all shot over the past year by […]

Planet at risk of heading towards “Hothouse Earth” state

Stockholm Resilience Center. An international team of scientists has published a study in Proceedings of the National Academy of Sciences (PNAS) showing that even if the carbon emission reductions called for in the Paris Agreement are met, there is a risk of Earth entering what the scientists call “Hothouse Earth” conditions. A “Hothouse Earth” climate will in the long term […]

Stories of Resilience Courage and Spiritual Transformation

In the aftermath of Maria, Caribbean students at St. Thomas University create short story collection. On April 23, St. Thomas University will be unveiling a rich and diverse short story collection “Student Narratives on Hurricane Maria” written by Caribbean students displaced by Hurricane Maria. Nineteen students, mostly from Puerto Rico and one from the Dominican Republic, came together to share […]