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emerging risk issues, 617 industry
increased litigation and, 616 in internal safety issues, of workforce,
trends, 614 analysis of, 393“394
trust in organisations and business, 615 legal risk management in banks,
Business sectors ranked by risk, 684 74“76
Business strategy, 23 Marconi case study, 546
Buy side analyst, 647 natural resources and land use, risks
in, 497“498
C risk management, 527“528
Cadbury Report, 544“545 supply chain pressure, 218“219
Cadbury Schweppes plc, 252, 284, 510 UK Disability Discrimination Act and
California Public Employees™ Retirement small business concerns, 335“336
System (CalPERS), 360 Vedanta, 580“581
Canadian E3 Fleet system, 481 waste generation, 500“501
Capital stock, 647 waste water pollution, 510“511
Carbon capture, 529 water use, 507“508
Carbon credit trading, 530“531 WorldCom, 540
Carbon dioxide (CO2), 647 Cash flow, 647
Carbon dioxide equivalent (CO2e), 647 Cause related marketing, 244“245, 282
Carbon Disclosure Group, 448 models, 243
Carbon Disclosure Project (CDP), 51, 58, CBC Business Principles, 593
521 core values, 593
Carbon finance, 529 principles, 595“596
Carbon issues and climate change, responsibilities to stakeholders,
531“532 594“595
Index
720



CBC framework for corporate States, was issued by Allianz
governance for SMEs, 694“696 Group, 520
Centrica plc, 284“285, 478 Coast Guard and Maritime
Certified emissions reduction (CER), 647 Transportation Act (2006), 511
Chartered Institute of Management Coca-Cola, 486, 505
Accounting (CIMA) Report, Code of Corporate Governance, 605“606
537“538 Code of ethics, 567, 590
Child labour risk management, Cogitare, 489
360“362 Combined Code on Internal Controls,
China National Petroleum Company see Turnbull Code
(CNPC), 364 Combined Revised Code on Corporate
Chlorofluorocarbons (CFCs), 647 Governance 2003, 549“550
Christian Aid, 220, 447 in UK corporate governance, 551“552
Chronic obstructive pulmonary diseases Commitment period, 648
(COPD), 386 Commonwealth Business Council
Citigroup, 236 (CBC), 592, see also CBC Business
Clean Air Interstate Rule (CAIR), 48 Principles
Clean Development Mechanism (CDM), Community involvement/investment
50, 529, 531, 647 risks, 282“285
Cleantech Venture Network LLC, 491 Companies Act 1956, in India, 600
Clean Water Act, 182, 441, 509 Companies Act 1994, in Bangladesh,
Climate, 648 597
sensitivity, 648 Companies Ordinance Act 1984, in
variability, 648 Pakistan, 605
Climate change, 518, 648, see Global Company codes, in risk management,
warming 157“158
abrupt, 645 Company goals, 94“95
Annan, Kofi, view, 518“519 Company Law Reform Bill, 552“555
as business opportunity, 528 derivative actions, 554“555
business pressure and, 522 directors™ dealings with third parties,
carbon issues and, 531“532 554
effects of, 524“525 transactions by directors with
European Environment Agency (EEA), company, 554
528 transactions of company with
legal actions and, 521 directors, 553“554
political pressure and, 520“521 Company Law Review, 449
prevention as business opportunity, ˜Comply and explain™ approach, 550
528“529 Comprehensive Environmental
reports, 519“520 Response, Compensation and
risk management steps, 525“527 Liability Act (CERCLA), 182,
stakeholder pressure and, 521 494
trends for, 520“523 Computer ailments, 389
Climate Change 2007: The Physical Computer Misuse Act, 91
Science Basis, 520 Confederation of British Industry (CBI),
Climate Change and Insurance: An 21
Agenda for Action in the United Conference of the Parties (COP), 648
Index 721



Conflict of interest problem, in SOX, Corporate governance, in emerging
559“560 jurisdictions, 589“590
Conservation of Natural Habitats governance themes in South Asia,
Directives (1992), 495 590“592, see also South Asian
Conservation of Wild Birds (1979), 495 nations
Consumer attitudes, 55“56 Corporate governance practices, in UK
Consumer behavior, trends, 55“56 application, 551“552
Consumer interests and technology background and framework, 543“544
risks, 255 CIMA Report, 537“538
Continuity planning and operational Combined Code effect on, 551“552
risk management, 171“172 common law rules, 543
Convention on the International Trade listing rules for, 550“551
in Endangered Species in Wild risk management and, 547“549
Fauna and Flora (CITES), 403 and sustainable risk management,
Copyright, 203 537“538
Core indicator, 648 Corporate Killing Act, 376
Corporate accountability (CA), 21 Corporate manslaughter, case study,
Corporate Accounting Reform and 108“109
Investor Protection Act (2002), Corporate organisational areas and risk
343 accountability and corporate giving,
Corporate citizenship (CS), 21, 648 121“123
Corporate collapses, see Corporate business structure
failure limited liability company,
Corporate failures 110“112
executive remuneration and, 540 Limited Liability Partnerships Act,
UK response, see Corporate 112“116
governance practices, in UK sole trader, 117“118
US legislative response, see charities, 118“121
Sarbanes-Oxley Act corporate manslaughter, case study,
Corporate governance, 204“206, 648 108“109
CBC recommendations to, South Asia, corporate responsibilities, 107
609 drivers of business risks, 104“106
CSR impact, 588“589 English legal framework, 107“108
in emerging jurisdictions, see risk management in UK, 106“107
Corporate governance, in Corporate power risks
emerging jurisdictions adverse business practices
framework, see CBC Business case studies, 234“236
Principles company specific examples,
impact of reforms for improvement, 237“238
see Sarbanes-Oxley Act, positive financial services sector, 236
effects tobacco sector, 237
institutions and, 576 adverse marketing practices
OECD Policy Framework for case studies, 240“242
investment, 597 trends, 245“246
questions by OECD policy framework unrestrained use of, 230“233
for investment, 698“699 Corporate reputation, 12
Index
722



Corporate responsibility (CR), see Cultural due diligence process
Corporate social responsibility defined, 301“302
Corporate risk/liability ˜health check,™ deliverables, 304
12 model, 302“304
Corporate social responsibility (CSR), the process, 302
21, 40, 62, 587“588, 648 Cultural integration and risk
Academy, 575 management, 101“102
Boston Consulting matrix, 585“587 Cultural risk management
business case for, 582“589 background and key concepts,
competency framework, 575 290“291
corporations, economic drivers and clashes in mergers and acquisitions,
directors™ duties, 578 301
definition, 581 cultural due diligence, 301“304
and economic crimes, 154“155 Indian case study, 305“311
EU Business Alliance, 575“576 strategy
global application, 579“580 aligning of, 294
impact on corporate governance, alliances, 300“301
588“589 concept, 291“292
India case study, 578“579 implementation in an organisation,
issues and P/E ratios, 584“585 295“300
key codes of, and reporting initiatives, process, 292“294
577 role in an organisation, 294“295
performance, 583“584 Customer Trust Index, 615
sustainable development (SD) and,
580“582, see also Sustainable D
development and corporate social Damage to physical assets, 648
responsibility Data Protection Act, 37, 90
UK approach (shareholder approach), Decarbonisation, 34
574“575 Decision-making processes, 26
UK developments and OFR for, and SERM, 26
577“578 Deep vein thrombosis (DVT), 404
US approach, 574“575 Delivery process, in crisis management
value-added model, 588 plan, 189“190
Correlation, 648 Dell, 478
Corruption, 648, see also Economic Dematerialisation, 34
crimes, as business risk Department for Trade and Industry,
COSO 453
enterprise risk management Derivative actions, 554“555
framework, 89 Design protection, 203
identified risks, 74 Design right, 203
Council for Economic Priorities (CEP), Deutsche Bank, 236
354“355 Dhaka Stock Exchange, 599
Cradle to grave approach, 442 Diageo plc, 136, 284, 467
Crisis management plan, 183“187 Digital evidence, 256“257
CSR, see Corporate social responsibility Direct cost risk, 11
CSR competency framework, 575 Directive 2003/10/EC (ID 4429), 388
Index 723



Disability Discrimination Act (1995), Eco-design, 34, 457
335 Eco-efficiency, 34, 649
Discounting, 648 Eco-Management and Audit Systems
Dixons, 235 (EMAS), 454“455
Documents, type framework, 455“456
closing, 702 E-commerce, 172
exchange of contracts, 702 Economic crimes, as business risk
pre-exchange, 702 area of corporate social responsibility
Dongguan city, 477 (CSR), 154“155
Double dividend, 437 areas of business risk, 132“134
Dow Jones Sustainability Index, 221 aspects of transparency, openness and
Downstream, 648 ethics
Drivers, of business risks, 104“106 company codes, 157“158
Drivers, of sustainable risk management ethical business strategies,
environmental scan tool 155“157
economic drivers, 38“43 initiatives undertaken by
environmental drivers, 48“51 Transparency International (TI),
social drivers, 43“48 152“153
stakeholder analysis tool, 51“63 international level, 150“151
value and internal drivers, 32“38 micro level, 151“152
Drug side effects, 254, 493 in UK and US, 153“154
DTI/DETR Project Acorn, 456 bribery and corruption sector wise,
Due diligence and corporate governance 129
accountability and corporate giving, definitions, 130“131
121“123 effects on market environment, 131
business structure impacts on organisations, 131
limited liability company, 110“112 organisational behavior with respect
Limited Liability Partnerships Act, to laws, 132
112“116 strategies to tackle, 142“144
sole trader, 117“118 survey and case studies, 134“137
charities, 118“121 international economic crime,
corporate manslaughter, case study, 137“142
108“109 UK perspective
corporate responsibilities, 107 corporate identity theft, 147“148
drivers of business risks, 104“106 financial services sector, 145“146
English legal framework, 107“108 RSM Robson Rhodes report, 145
risk management in UK, 106“107 small business, 146“147
Economic drivers and trends
E economic trends, 39“42
Early crediting, 649 technological development, 42“43
Earnings before interest, taxes, value drivers, 38
depreciation and amortisation Ecosystem, 649
(EBITDA), 649 EEC Treaty (Treaty of Rome 1957), 440
Earnings per share (EPS), 649 EHS, 368, see also Environmental,
Earth Summit, on sustainable health and safety measures
development, 437 crisis management plans, 369
Index
724



Emergency Preparedness and Environmental health factors, from
Community Right to Know Act production of energy, 49“50
(EPCRA or SARA Title III), 182 Environmental incident risk, 465“469
Emissions, 649 Environmental legislation,
cap, 649 implementation of, 441
trading, 649“650 Environmental management, principles
Emissions reduction unit (ERU), 649 for, 626“628
Employment practices and workplace Environmental management systems
safety, 649 (EMS), 452
End of Life Vehicles (ELV) Directive appropriate form of, 456
(2000/53/EC), 503 benefits to organisation, 453
Energy resources, 650 disadvantages of, 453“454
Engagement, 649 types of, 454
English legal framework, 107“108 Environmental performance, 649
Enhanced greenhouse effect, 650 Environmental protection
Enron case study, 541“543 business organisations role in,
failure, 537, 542“543 438“439
growth, 541 corporate responsibilities for, 438
risk management and corporate regulatory approaches in, 440“442
governance, 546“549 transboundary issues role in, 439“440
Enron collapse, US response to, see Environmental Protection Act 1990
Sarbanes-Oxley Act (EPA 1990), 474
Enron failure, factors Environmental Protection Agency (EPA),
conflict of interest problem, 559“560 177, 369
Enron insiders, 560 Environmental Protection (Controls on
off balance sheet transactions, Ozone Depleting Substances)
560“561 Regulations 2002 (SI 2002
Enterprise Act (2004), 234 No. 528), 475
Enterprise Act/cartel offences, 46 Environmental risks, 662“665
Enterprise Governance “ Getting the analysis, 460“461
Balance Right, 537 air pollution risk, 471“484
Enterprise risk management, 649 environmental incident risk,
Entry into force, 650 465“469
Environment, health and safety (EHS), historical environmental liability
649 risk, 469“471
Environment Act 1995, 440 resource usage risks, 484“512
Environmental Action Programme, categories, 462“463
Towards Sustainability, 438 sector wise, 463“464

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