The Institute of Risk Management (IRM) has formed a new Climate Change Special Interest Group (CC SIG) for its members to better understand the risks associated with climate change. Martin Massey MIRM is the newly-appointed chairman for the IRM CC SIG and will be hosting its inaugural event entitled ‘The Role of the Risk Manager in Assessing Climate Risks’ on 17 February.
For his part, Massey boasts years of experience gained in the risk management arena by dint of working for some of the leading global insurance and risk organisations, among them Swiss Re, Willis, Aon, AIG and Marsh.
Commenting on the news, Massey explained to Risk Xtra: “Today’s world is increasingly defined by unpredictable events with severe and lasting consequences that impact on an organisation’s ability to survive and thrive. Effective business risk managers must develop greater global situational awareness to understand and stay ahead of these direct and indirect risks. As the professional body that trains, promotes and improves standards in risk management, the formation of this new Special Interest Group has been actioned to provide a platform for our membership who work with climate change risks on a regular basis.”
The main purposes of the CC SIG are to:
*research and collate climate change risk management Best Practices and solutions
*develop a strong committee with a wider representation of members across different industry sectors
*support the IRM’s goals, including increasing membership and developing educational training for members
*hold monthly meetings with the core committee members and organise three or four events per year
IRM chairman Iain Wright CFIRM observed: “The recent Global Risks Report 2020 from the World Economic Forum has highlighted that risks linked to climate change counted for three of the Top Five global risks. There’s an expectation from key stakeholders including regulators that existing risk management frameworks will need to address risks from climate change and thus the scope of the CC SIG will be to support how organisations enhance the maturity of their risk frameworks, from identifying through to reporting climate change risks. I would like to thank Martin for stepping into the role as chairman of this group and look forward to seeing the outputs going forwards.”
*’The Role of the Risk Manager in Assessing Climate Risks’ event on 17 February runs from 4.00 pm-6.00 pm at the offices of Nationwide, 1 Threadneedle Street, London EC2R 8AL. The event reserve list registration can be accessed online at: https://irmcomms.wufoo.com/forms/m1jaos0o08ggu9e/
**Further details of the event, including speakers and the complete agenda, will be announced closer to the date