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Keith Smith - ESG Reputations and their financial consequences

Updated: May 9

ABSTRACT

ESG Reputations and their financial consequences. An illustrative case study from mining


ESG, with its common threads, facilitates easy cross comparisons of organisations and sits well with the human desire to apply ranking when making decisions. ESG also connects easily to personally held values and importantly values people want to showcase to others. These strong forces are relatively new dimensions to the reputation profile an organisation has to manage. They are also dimensions that will increasingly guide individual choice, investment decisions, insurance availability and operational licencing. This is why in a highly connected world, a good reputation is a strong trading asset and a damaged reputation has inevitable financial consequences.


With this session, we will use a short case study to look at some of the financial impacts that may stem from an ESG related incident. Emphasis will be placed on identifying sources of financial loss, the effect of social media on consequences and the capacity issue around reputational damage.



 

BIOGRAPHY

Keith started his career as a communications engineer and having managed a number of risky technical projects, developed a professional interest in the management of risk and decision making. During his career he has been involved in a number of applied risk and decision making research projects, covering how decisions are made and managing risks in situations of deep uncertainty. As part of the current RepAdvisor research team, Keith is tapping into this varied research background and into three years of experience developing emerging risk reports for the Lloyd’s insurance market.





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