“They’re going to lose their houses, they’re going to lose their jobs…this is like, the end of capitalism, this is like the dark ages all over again” – The Big Short
Debuting in 2015, The Big Short is an American comedy-based drama showcasing the 2007-2008 financial crisis. I remember watching the movie, in quiet disbelief that a financial failure of such magnitude slipped through all areas of caution, potential management, and mitigation.
The 2008 financial crisis was the result of unsuccessful systemic risk management.
For me, this single example communicates the importance of understanding, managing, and mitigating systemic risk items. With that in mind, we begin this article on systemic risk.
In this Process Street article, we will explain what systemic risk is and how it differs from conventional risk. You are given tips to help you identify prevailing systemic risks so you can be proactive, plan for, and manage these risks for your business and line of work.
Before concluding the article, we acknowledge climate change as a potent systemic risk that urgently needs to be addressed and managed. For this, we give you free template resources, uniquely designed to support the movement towards business sustainability. A movement that runs hand-in-hand with carbon footprint reduction.
Click on the relevant subheader below to jump to that section. Alternatively, scroll down to read all we have to say about systemic risk.
It was a Tuesday morning and my phone buzzed me out of my groggy, lethargic state, flashing open the above notification. The Coronavirus had hit businesses and our economy hard, potentially costing 2.7 trillion globally.
A viral risk, that went viral. Was something like this not foreseeable?
In this Process Street article, we turn our attention to the concept of business risk. As we write this article, the corona crisis is unfolding. We were warned about the risk of a virus outbreak but it appears we weren’t as prepared for it as we could have been.
But viruses are not the only risk we face. The 2020 Global Risk Report from the World Economic Forum (WEF) highlights a host of other risks, which we’ll turn our attention to in this article.
To get started, click on the relevant subheaders below to spring to that section. Alternatively, scroll down to read all we have to say regarding the concept of business risk.
Greenwashing is unethical. Greenwashing is risky. Greenwashing needs to be prevented.
You can think of this Process Street article as an antidote to greenwash. We give you the information you need to identify and stop greenwash in its tracks. We do this because greenwash is not good for you as a consumer, and it is not good for you as a business owner or employee.
Like Rostand, we at Process Street believe everybody has a right to know how green the products and services they purchase are. In this article, we provide information that will give you back this right where greenwash blots it out.
Paint strippers at the ready, it’s time to peel away the dross. Click on the relevant subheaders below to jump to that section. Alternatively, scroll down to read all we have to say.
What did Trump mean when he said that this number was “very sustainable” – and was it?
In 2019, and as predicted by economists, the U.S. growth rate slowed down and returned to 2.1%.
Unsustained high growth rates are very common. It seems that the magic 2% has a gravitational pull, hauling back growth rates that increase over it. Is this 2% what economic sustainability looks like?
In this article, we at Process Street explore what is meant by economic sustainability. We look at the benefits economic sustainability can bring on a global level and at a business level. We suggest ways you can become economically sustainable in your business today.
GRI Standards will help you produce a sustainability report, and by doing so, you are taking a huge leap towards securing business sustainability and cooking up long-term corporate success.
In this article, I will explain why GRI Standards reporting is important, whatGRI Standards are, and how you can implement GRI Standards for the production of your sustainability report today. You are provided with free and ready to use templates for implementation of the three universal GRI Standards reports.
It was my first time visiting Sweden, and somehow I found myself hauling two baskets of milk containers to deliver to the local supermarket. Feeling like a recycling heroine, my ego was soon deflated when I realized my efforts were something of commonality in this country.
If you read my last post on business sustainability, you will understand how the environment impacts our economy. It is due to this deep-seated connection between economies and ecosystems that make environmental management so important.
Environmental management acts to safeguard nature from potentially damaging business operations, constructing a win-win situation benefitting the economy and the environment.
In this article, we at Process Street explain exactly what environmental management is, why it is needed, and how you can implement environmental management into your business today. We also have a bunch of free templates to help you apply environmental management strategies.
Let’s crack on and find out exactly what environmental management is.
His prediction focused on the problem of the amount of energy being consumed, against the amount of energy being produced (as well as available sources of energy production) alongside the projected boom of human population to around 8-10 billion by 2050.
In recent years, there has been a resurgence of attention placed on the topic of energy efficiency and the relationship between energy consumption and climate change.
It is an undeniable fact that our global climate is rising in temperature. The science is there to prove it; the United Nations Intergovernmental Panel on Climate Change (IPCC) and many other international organizations have acknowledged that recent years have been the hottest since records began.
As a result, intense weather like heat waves, hurricanes, heavy rains, tropical storms, and rising sea levels all becoming more and more commonplace.
Despite the rising tide of climate crisis, the demand for energy supply is at an all-time high. The global economy is insatiable in its demand for energy to sustain economic growth and development.
How should organizations prepare themselves for the inevitable challenge of sustainable adaptation, and for ensuring they have the tools in place to facilitate the systematic energy management approach that will be the core of efforts to improve energy efficiency in the future.
“Energy efficiency is the most promising means to reduce greenhouse gases in the short term,” – Yvo de Boer, Former Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).
A systems-scale approach is necessary if organizations want to seriously engage with difficult problems facing sustainable business and adapt for the future of energy management.
ISO 50001 is a standard designed to help organizations establish efficient and effective energy management systems (EnMS) and improve energy performance.
Based on the principles of continuous improvement and popularized by the ISO 9001 and ISO 14001 management system standards, by implementing these standards companies stand to reduce energy efficiency costs, lower carbon dioxide emissions and prioritize the preservation and sustainable engagement with the environments in which they operate.
This article will provide an introduction to the ISO 50001 standard, with a simple explanation and tips for getting started with an implementation of your own using Process Street.
Thankfully, recent changes have made it easier than ever to implement ISO 50001 (and any ISO management system standard), so that will be a big focus of this article.
At Process Street we also recognize the increasing priority adopting a sustainable business model should have.
In this article, we explain what a sustainable business is, why it is important, how it can benefit your business in both the short and long term, and how you can implement sustainable actions into your business. At the end of the post, we provide you with templates that act as aids to make your common business processes more sustainable.