Companies face many significant risks continuously. Issues and concerns around climate change have heightened the need for enterprise-wide risk management efforts. Treating climate change risks in an isolated or one-off manner can result in flawed decisions that cost a company dearly in both financial and reputation terms. ERM is applied in a risk intelligent manner and is well suited to dealing comprehensively and effectively with climate change risks in this study. It is an effective approach for handling complex, correlated risks, and it offers a meaningful structure for identifying, measuring, prioritizing, and responding to these additional risks. Global warming is and will have high-level impact on organizations. It includes both risk mitigation and creates new opportunities to develop new markets and business strategies.
ERM for climate change and global warming issues will give the organization the right information at the right time to support key decisions and ultimately create enhanced shareholder value (Curtis and Concessi, 2008). ERM may provide effective solution to sustainable development and global warming issue. Proactive Cwg model presents fresh approach to best managing of sustainability and global warming risks by ERM perspective. ERM perspective and Cwg model can be considered a systematic way to save our world to fight against global warming-based threats. Cwg model can be useful to capture global warming-based opportunities along sustainable world, too.
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