Risk management has entered a new era defined by a
shifting landscape, where Environmental, Social, and Governance
(ESG) factors represent the new frontier. The ESG framework has
become an integral part of business operations, defining how
organizations perceive and address their operations, stakeholder
relations, and long-term sustainability. What was once considered a
peripheral issue, ESG now forms the core of an organization's
existence, determining its competitiveness and survival in a
rapidly changing world.
Climate change presents a significant business risk that is
reshaping the corporate landscape. Unpredictable environmental
phenomena, such as wildfires, pose direct threats to operations,
supply chains, and the wellbeing of employees, severely disrupting
business continuity. For instance, wildfires can cause property
damage, lead to lost productivity, and even force businesses to
shut down temporarily or permanently. The health impacts on employees due to
