Environmental and Social Risk Management: Integral for Risk-Resilient Financial Institutions

This article was written by Sustainable Finance Advisory associate Swe Thant and Managing Director Carey Bohjanen for CSR Files, a ThistlePraxis Consulting publication. Read the full edition here. Carey and team served as the Independent Advisor to the Nigerian banks during the yearlong process of developing the NSBPs and Guidelines and provide sustainability and risk management advisory and consulting solutions to a wide range of financial sector clients around the globe as well as in Nigeria, including recently serving as an advisor to the Central Bank of Nigeria.

In May of this year, carbon dioxide levels in the earth’s atmosphere reached four hundred parts per million. Experts aren’t sure when levels were last historically this high – they are guessing that it was about 3 million years ago. But in case the implications aren’t clear, a marine geologist neatly summed up the situation: “It’s the inevitable march to disaster.” [1]

Climate change is only one of the global “megatrends” driving the changing landscape of risk and creating potential instability. Continue reading


Environmental and Social Risk Due Diligence in the Financial Sector: Current Approaches and Practices [report]

The Dutch Ministry of Foreign Affairs commissioned this report on behalf of the OECD Working Party on Responsible Business Conduct as a first step in a dialogue on what the OECD Guidelines for Multinational Enterprises mean for the day-to-day practice of the financial sector. In particular, this project report seeks to identify financial institutions’ current environmental and social due diligence practices, perception and application of the concept of supply chain responsibility as embedded in the OECD Guidelines for Multinational Enterprises. The Ministry hopes that this study will help to inform stakeholders and other parties interested in the dialogue on responsible business conduct in the financial sector. Continue reading