4 Types of Environmental Risks & How to Control Them

2. The global business communities are gradually realizing the environmental risks of the ever-increasing commercial and economic activities. They are emphasizing adoption of sustainable practices and compliance standards like the ISO 14001 certificationfor businesses to check their environmental impacts. Environmental risks should also be checked to prevent your business from negative publicity, unforeseen costs, or production disruptions. Environmental risks are widespread and of various types. Hence, you need a strong approach to prevent all types of risks.

3. Environmental risks refer to any negative consequences caused to a business following its impacts on the natural environment (including human life and resources like air, water, and soil). The following are the types of risks that businesses can face. 4 Types of Environmental Risks in Businesses Financial risks 01 Legal risks 02 Reputational risks 03 Operational risks 04

4. 1. Financial risks: Costs for remedying contaminated resources, avoiding workplace accidents, recovering employees from an accident, and meeting regulatory environmental requirements 2. Legal risks: Fines for not obliging with environmental laws and regulations, costs for meeting legal obligations to any environmental practices, and costs for suspension of operations 3. Reputational risks: Loss of sales due to damage of brand reputation following incidents like chemical spills, violation of laws, product hygiene scares, etc. 4. Operational risks: Increase in the production of toxic wastes, treatment of wastewater, and increased costs for deploying environmental practices

5. • Infographic Style Key Takeaway: How to Control the Risks It is essential for an organization to implement a strong EMS (Environmental Management System) adhering to the regulations of the ISO 14001 certification to prevent these risks from arising. The EMS helps to consistently assess their business activities to identify risks and control them. Making informed decisions regarding a risk (whether it is to be eliminated or managed) Controlling potential risks With an effectively implemented EMS, you are also able to use a risk appraisal process. It helps in: Turning any risk into an opportunity to improve your environmental performance

6. About the Company About the Company Compliancehelp Consulting LLC is a professional ISO certification consultancy that works to provide a wide range of services to businesses to help them get certified with an ISO standard. They offer services such as gap analysis, internal auditing, and readiness review at highly affordable rates and guarantee to make a business eligible for an ISO certification quickly.

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