The exposure draft drawn up by the Advisory Committee on Business in the Environment, outlines specific questions about environmental, social and ethical risks directors should be asking themselves and employees about their companies.
John Browne, director of PwC’s reputation assurance, said: ‘We welcome the initiative from the government advisory committee ACBE and all other initiatives that encourage companies to strategically manage all their business risks in a coherent and coordinated way.’
Brown added: ‘We believe that successful companies will be those who embed social, environmental and ethical risk management into the core business processes and performance measures. This integrated approach is at the heart of managing the 21st century company’s most valuable asset – its reputation.’
Despite companies’ environmental reporting levels having diminished over the year, Gerry Acher, chairman of the ACBE and senior partner at KPMG, said he was delighted at the response to the guidance.
PwC has developed its reputation assurance unit over the past three years. It currently employs over 70 full-time staff globally.
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