Leveraging business continuity management for climate-related financial reporting
Abstract
This paper discusses how the experience and skill set developed within the field of business continuity management (BCM) provide a strong base from which organisations can leverage value in areas not traditionally considered within the remit of BCM. In particular, the paper examines the topic of climate-related financial disclosure, an important area that is gaining traction with investors and therefore senior executives too. Although, in itself, it is not an incident or event, this new area of focus has the potential to impact a company’s ability to thrive and prosper. This paper will discuss how the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosure strengthen an organisation’s business continuity programme strategy, as well as sustainability objectives, by enabling executive-level conversations about the organisation’s operational and financial resilience, as well as actions with a positive outcome for the environment that will lead to competitive advantage. This paper argues that by facilitating these discussions, BCM helps to establish organisational priorities and develop specific action plans that can be validated through exercising.
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Author's Biography
Diane Doering leads the global Enterprise Risk Management (ERM) programme at Takeda Pharmaceuticals. Prior to that, Diane led both the global ERM programme and the Information Security Governance, Risk & Compliance team at Iron Mountain. Key to her success has been the ability to understand and incorporate various risk management frameworks, such as NIST’s Cybersecurity Framework, with other key frameworks, including sustainability, business continuity, cyber security, and thirdparty risk management programmes designed to address specific risks while strengthening enterprise-wide operational resilience. Her career in leading enterprise risk, operational risk and business continuity management has spanned nearly 20 years, and includes positions at Putnam Investments, Bank of America/Columbia Management and State Street Global Advisors. In 2011, she was recruited to develop and implement the Operational Risk programme, including business continuity management, for the Abu Dhabi Investment Authority. She is a founding member of the DRI Foundation’s Women in Business Continuity Management Committee, serving as Chair for five years. In 2020, she received the DRI Foundation’s Distinguished Service Award, and was invited to join the DRI International board of directors in 2022.
Citation
Doering, Diane (2023, December 1). Leveraging business continuity management for climate-related financial reporting. In the Journal of Business Continuity & Emergency Planning, Volume 17, Issue 2. https://doi.org/10.69554/LCLK1435.
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