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The functionalities of RIBIA ERM at a glance

1. Risk Identification

Data collection, risk identification and assessment according to the categories defined by international standards and methodologies for risk analysis and reporting of climate- and environment- related information*.

These include indicatively:

  • Policy & Legal Frameworks

  • Market

  • Technology

  • Reputation

  • Physical Risks (Acute & Chronic)

  • GHG Emissions

  • Pollution

  • Energy Consumption

  • Raw materials and materials management

2. Risk Quantification

Analysis and quantification of risks and/or opportunities in monetary and/or technical terms (e.g. energy consumption, carbon dioxide emissions - scope 1,2,3) according to international standards and methodologies*:

  • Identification of infrastructure, operations, activities along the value chain that are subject to risks

  • Assessment of Likelihood and Severity of occurrence of risks

3. Scenario Analysis

Projection of risks/opportunities into the future using data, advanced statistical methods, Artificial Intelligence and Machine Learning techniques:

  • Assessment and quantification of risks/opportunities according to socio-economic future scenarios (e.g. RCP)

  • Identification of long-term impacts

  • Business model viability testing

4. Risk Monitoring & Management

Development of systems for assessing, reporting and monitoring the risks:

  • Key Performance Indicators (KPIs) and monitoring indicators

  • Climate- and environment- related Metrics

  • Online Monitoring and Visualization Dashboards

  • Risk Management Platform:

    • online risk registers

    • prioritization and interactive financial impact control

    • mitigation actions

    • comparison charts of results and findings

    • control of the course of actions

Examples of standards and methodologies that ERM RIBIA is based on:

  • Task Force on Climate Change Financial Disclosure (TCFD),

  • Directive 2014/95/EU on Non-Financial Disclosures (NFRD) on climate-related information,

  • Global Reporting Initiative Standards (GRI)


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