The Risk Intelligent Energy Company: Weathering The Storm Of Climate Change

The energy industry has always dealt with risk. In cases where the risks are isolated to a specific business unit and risk type, traditional risk management approaches have been used with good success. However, when the scope, complexity, and interdependency of risk factors increase, or when an emerging risk simultaneously presents significant opportunities, more comprehensive and integrated approaches are necessary. Risk Intelligent Enterprises know that risk walks hand-in-hand with opportunity and use Enterprise Risk Management (ERM) as an effective means to identify and exploit opportunities while managing and mitigating unrewarded risks. This paper presents examples of climate change-related risks for key risk types.