This document summarizes presentations from an event on environmental risk management. It includes presentations from Valerie Fogleman on the Environmental Liability Directive, Pierre Sonigo on managing risks related to the directive, and Christopher Robertson on how corporations can manage environmental risks through insurance policies and risk transfer. The document discusses key concepts in the directive, variations in its implementation, uncertainties and risks, and strategies for managing compliance.
Spill Prevention Through Environmental Risk ManagementMedgate Inc.
Environmental spills damage organizations' reputations, lower productivity, increase operating costs, and can result in financial penalties.
As an EHS professional, you can minimize the possibility of a spill by following a thorough risk management process.
In this webinar, Alison McKenzie will show that by using an Environmental Risk Management Framework, you can take action to reduce risk, keep employees healthy and ensure that your resources are allocated for maximum impact. After this session you will be able to:
Identify hazards, estimate the likelihood of a spill & potential spill severity, conduct risk analysis and priority ranking, and move towards prevention planning.
Training slides of Environmental Risk Management addressing issues on the importance of preserving the nature while doing business. Some important highlights:
- Environmental Risk Assessment
- Environmental Degradation
- Disaster Risk Management
- Environment & Sustainability
- Environmental Management Plan
Contact us for further information regarding the training course: info@asia-masters.com
Spill Prevention Through Environmental Risk ManagementMedgate Inc.
Environmental spills damage organizations' reputations, lower productivity, increase operating costs, and can result in financial penalties.
As an EHS professional, you can minimize the possibility of a spill by following a thorough risk management process.
In this webinar, Alison McKenzie will show that by using an Environmental Risk Management Framework, you can take action to reduce risk, keep employees healthy and ensure that your resources are allocated for maximum impact. After this session you will be able to:
Identify hazards, estimate the likelihood of a spill & potential spill severity, conduct risk analysis and priority ranking, and move towards prevention planning.
Training slides of Environmental Risk Management addressing issues on the importance of preserving the nature while doing business. Some important highlights:
- Environmental Risk Assessment
- Environmental Degradation
- Disaster Risk Management
- Environment & Sustainability
- Environmental Management Plan
Contact us for further information regarding the training course: info@asia-masters.com
meeting the needs but protecting the environment, Environmental education and training, Environmental degradation and pollution, Resource management, Environmental impact assessment, Environmental Management System, Elements of an EMS, ISO 14001 standard
This is a moral and political principle which states that if an action or policy might cause severe or irreversible harm to the public, in the absence of a scientific consensus that harm would not ensue, then the action should be stopped
The principle implies that there is a social responsibility to protect the public from exposure to harm, when scientific investigation has found a plausible risk.
These protections can be relaxed only if further scientific findings emerge that provide sound evidence that no harm will result
Environmental Impact Assessment is a process of evaluating the likely environmental impacts of a proposed project or development, taking into account inter-related socio-economic, cultural and human-health impacts, both beneficial and adverse.
An environmental impact assessment (EIA) is an assessment of the possible positive or negative impact that a proposed project may have on the environment, considering natural, Social and Economic aspects.
Environmental impact assessment methodology by Dr. I.M. Mishra Professor, Dep...Arvind Kumar
Environmental impact assessment methodology by Dr. I.M. Mishra Professor, Dept. of Chemical Engineering Dean, Saharanpur Campus Indian Institute of Technology, Roorkee
presentation on a paper of EIA given by Richard K. Morgan. The paper includes the growth of EIA around the world in last 40 years and also includes the effectiveness of EIA.
A project done for sustainability lecture in Dublin Institute of technology for the course of Construction Management giving an introduction to Environmental Impact assessment.
The European Union Environmental Liability DirectiveGraeme Cross
The Environmental Liability Directive (2004/35/EC) is
a legislative act of the European Union creating new
and significant potential liabilities for costs, damages
and losses for operators and companies regulated
by the ELD. All EU members have now adopted the
ELD into their national laws, making compliance
unavoidable for companies operating in EU member
states regardless of where they are headquartered.
meeting the needs but protecting the environment, Environmental education and training, Environmental degradation and pollution, Resource management, Environmental impact assessment, Environmental Management System, Elements of an EMS, ISO 14001 standard
This is a moral and political principle which states that if an action or policy might cause severe or irreversible harm to the public, in the absence of a scientific consensus that harm would not ensue, then the action should be stopped
The principle implies that there is a social responsibility to protect the public from exposure to harm, when scientific investigation has found a plausible risk.
These protections can be relaxed only if further scientific findings emerge that provide sound evidence that no harm will result
Environmental Impact Assessment is a process of evaluating the likely environmental impacts of a proposed project or development, taking into account inter-related socio-economic, cultural and human-health impacts, both beneficial and adverse.
An environmental impact assessment (EIA) is an assessment of the possible positive or negative impact that a proposed project may have on the environment, considering natural, Social and Economic aspects.
Environmental impact assessment methodology by Dr. I.M. Mishra Professor, Dep...Arvind Kumar
Environmental impact assessment methodology by Dr. I.M. Mishra Professor, Dept. of Chemical Engineering Dean, Saharanpur Campus Indian Institute of Technology, Roorkee
presentation on a paper of EIA given by Richard K. Morgan. The paper includes the growth of EIA around the world in last 40 years and also includes the effectiveness of EIA.
A project done for sustainability lecture in Dublin Institute of technology for the course of Construction Management giving an introduction to Environmental Impact assessment.
The European Union Environmental Liability DirectiveGraeme Cross
The Environmental Liability Directive (2004/35/EC) is
a legislative act of the European Union creating new
and significant potential liabilities for costs, damages
and losses for operators and companies regulated
by the ELD. All EU members have now adopted the
ELD into their national laws, making compliance
unavoidable for companies operating in EU member
states regardless of where they are headquartered.
Environmental Due Diligence and Managing Environmental Risk in Saskatchewan b...Monica Pollard
Saskatoon lawyer, Christopher J. Masich, presented at the recent Law Society of Saskatchewan Continuing Professional Development events in Saskatoon and Regina on Due Diligence & Legal Opinions. Chris provided a comprehensive discussion on the specific area of Environment.
a general term that can reflect various types of evaluations intended to identify environmental compliance and management system implementation gaps, along with related corrective actions.
In this way they perform an analogous (similar) function to financial audits.
Eco insurance - risk management for the 21st century - final - printPlanet2025 Network
Humankind’s failure to reinvest a portion of the monetary riches provided by nature back into the globe’s life-supporting ecosystems has produced a mounting deficit on the world’s ecological balance of payments. This deficit has now grown to be 20 percent of the Earth's capacity - we are consuming resources 20 percent faster than they regenerate.
Following developments on the implementation of the European Liability Directive, Pierre Sonigo explores its implications for captives and operators in the region.
What is an Environmental Clearance Certificate and How to Obtain It.pdfPranshuSharma18498
Environmental preservation is a critical global concern in the 21st century. With increasing industrialization, infrastructure development, and urbanization, the impact on the environment cannot be overstated
European Risk Management Seminar 2018 - Sustainability ReportFERMA
FERMA’s aim in focussing on sustainability in our 2018 European Risk Management Seminar and in publishing this report is to strengthen the risk manager in ensuring the sustainability of our organisations and ultimately our societies.
Sustainability has always been at the heart of the role of the risk manager, so that their organisations are resilient to shocks and can continue to fulfil their objectives. In the 21st century, that vision has widened, because companies are increasingly asked to be good corporate citizens and to play a part in our overall adaptation to climate change.
European risk management sustainability seminar reportFERMA
Sustainability has always been at the heart of the role of the risk manager, so that their organisations are resilient to shocks and can continue to fulfil their objectives. In the 21st century, that vision has widened, because companies are increasingly asked to be good corporate citizens and to play a part in our overall adaptation to climate change.
Fritz Flanderka:
Managing Director at Reclay Group, responsible for legal/public affairs and strategy since 2005
20+ years experience in the development of postconsumer waste management programs, including designing and implementing EPR for Germany‘s Green Dot scheme Founder and former Managing Director of PRO Europe Author of numerous publications on EPR
FERMA contribution to the French Presidency agendaFERMA
FERMA thought paper highlights the links between its work and the priorities of the French Presidency in three key areas :
Economic recovery (systemic risks and risk transfer, including captives)
Digital issues (cyber risks and cyber insurance)
Ecological transition (sustainability and insurability)
For each of these categories, FERMA presents the challenges faced by European businesses, explains how risk management contributes to the ambitions of the French Presidency and asks European policymakers for specific measures during this period.
The role of risk management in corporate resilienceFERMA
The report presents the views of risk and insurance professionals and senior executives about a post-pandemic view of resilience management in their organisations across sectors globally in the summer of 2021.
Webinar: the role of risk management in corporate resilience FERMA
FERMA and McKinsey will present the findings of our survey into resilience and risk management. The objective is to give risk and insurance professionals a richer understanding of resilience in a strategic and practical way. Two leading risk managers will discuss the results of our survey and will reflect more broadly on the link between risk and resilience. By the end of the webinar, you will be well versed in resilience from an enterprise risk management perspective.
People, Planet & Performance: sustainability guide for risk and insurance man...FERMA
On 31 March, FERMA releases the first guide specifically for European risk managers on sustainability risks.
People, planet, performance – The contribution of Enterprise Risk Management to Sustainability provides practical guidance on incorporating sustainability goals into enterprise-wide risk management.
Collaboration of the Year Award winner 2020: Pim Moerman and Rob van den Eijn...FERMA
Philips Global Resilience Platform: Breaking down silo approach of departments by collaborating in multidomain platform making our company more resilient
Argo Group: entry for emerging risk initiative of the year Award 2020FERMA
Adam Seager, Chief Risk Officer of Argo Group demonstrates the context, challenges and solutions he put in place for Agor Group during the time of crisis like the Covid19 pandemic.
George Ong, Chief Risk Officer, Northern Ireland WaterFERMA
Nominations for the Public Sector Risk Manager of the Year for the European Risk Management Awards 2020.
George Ong is the Chief Risk Officer for Northern Ireland Water (NIW), a Government Owned Company (GoCo). George joined the business in 2006 with a clear remit of implementing a risk and insurance management system given that the ‘Government Protection’ was to be removed from 1st April 2007. Since then George has worked to adapt, enhance and embed risk management arrangements within NIW, developed partnerships with businesses, communities and institutions to improve resilience for the Company and the community. #euroriskawards
Webinar: Risk management in a global pandemic - Early lessons learned, EU – U...FERMA
FERMA's joint webinar with RIMS on 1 December provided insights into the way risk managers have experienced and dealt with the global pandemic and its consequences.
FERMA and RIMS teamed up to bring you content from both sides of the Atlantic Ocean. The webinar began with a presentation of the results from FERMA’s COVID-19 survey, and then took a Transatlantic view on commonalities and differences.
Speakers:
Athina Pehrman, Group Risk Manager at Electrolux Professional Group, a sustainability leader in the appliance industry
Melanie Steiner, Board Member, US Ecology, Inc. a leading provider of environmental services to commercial and government entities. Former CRO
Typhaine Beaupérin, CEO of FERMA, moderator.
European Risk managers have helped maintain the continuity of their organisations during the pandemic crisis. They have participated in task forces and crisis units, promoted communication, supported new working practices, pursued insurance recoveries where possible and begun work on recovery, according to a survey published by the Federation of European Risk Management Associations (FERMA): https://www.ferma.eu/publication/covid-19-ferma-survey-shows-risk-managers-contributions-to-response-and-resilience/
GDPR & corporate Governance, Evaluation after 2 years implementationFERMA
FERMA’s live joint webinar with ECIIA on Monday 28 September gathered more than 300 participants
The objective of this joint webinar was to take stock of where we stand after 2 years of GDPR implementation and the practical consequences on businesses. For this, FERMA and ECIIA (European Confederation of Institutes of Internal Auditing) invited the following speakers:
- Olivier Micol, Head of Data Protection Unit at the European Commission, Directorate-General for Justice. He highlighted key elements of the recent GDPR evaluation report of the European Commission, shared the latest data and feedback from companies and civil society. He also gave an overview of future planned initiatives.
- Jérôme Avot, Group Risk Officer and Data Protection Officer at Faurecia, a global leader in automotive technology.”The GDPR served as a common thread from the start to the end of the project. We feel we have turned what might have been perceived as a constraint into an opportunity. “
- Ralf Herold, Senior Vice President, Corporate Audit BASF, a leading chemical company. He is an expert in GDPR as Germany was a pioneer in this piece of legislation.
Jérôme Avot and Ralf Herold shared their experience as a Risk Manager and DPO and as an Internal Auditor by exchanging on the changes that the GDPR involved within their companies.
https://www.ferma.eu/webinar-replay-gdpr-corporate-governance-evaluation-after-2-years-implementation/
The European risk manager report 2020: webinar presentationFERMA
This 2020 edition is the opportunity to deepen four challenges that the Risk Manager is facing today:
his growing role in digital transformation
his contribution to sustainability
tougher insurance market conditions
education and skills evolution
The objective of this report is to launch the discussion on the new challenges posed by the European transition to climate neutrality and digital leadership for Risk Managers. How are the roles and responsibilities of European Risk Managers evolving in the face of this new reality? Are Risk Managers equipped to support their organizations in achieving this double transformation?
Our live webinar was scheduled on Monday 29 June 2020: risk managers from different backgrounds shared their experiences on the below themes and reacted to the results of the survey, in particular before and after the Covid-19 crisis.
The speakers were:
Adriana Cavaliere : Corporate Risk Manager at Skeyes, Belgium
Oliver Wild: Group Chief Risk, Insurance and Internal Control Coordination Officer at Veolia, France
Charlotte Hedemark: Chairman of the 2020 FERMA Survey Committee and Board Member of FERMA
Françoise Bergé: PwC Partner
FERMA European Risk Manager Report 2020: full set of results FERMA
This 2020 edition is the opportunity to deepen four challenges that the Risk Manager is facing today:
his growing role in digital transformation
his contribution to sustainability
tougher insurance market conditions
education and skills evolution
The objective of this report is to launch the discussion on the new challenges posed by the European transition to climate neutrality and digital leadership for Risk Managers. How are the roles and responsibilities of European Risk Managers evolving in the face of this new reality? Are Risk Managers equipped to support their organizations in achieving this double transformation?
Webinar: Why risk managers should look at Artificial Intelligence now?FERMA
Risk Managers can be key actors in highlighting to the organisation leadership the opportunities and challenges of AI technologies
On 19 May, the objective of this webinar was to discuss:
How AI can be implemented into the risk management practices?
Which opportunities is AI creating for better risk management?
What are the highlights of the European Commission’s risk-based approach to Artificial Intelligence?
Speakers were:
Philippe Cotelle, Head of Insurance Risk Management at Airbus Defence and Space and FERMA Board member, will highlight the key findings from FERMA’s report on “AI applied to Risk Management”.
Irina Orssich and Eric Badiqué are both working for the European Commission as Team leader and Adviser for Artificial Intelligence in the Unit for Technologies and Systems for Digitising Industry. They will present the Commission’s White Paper on AI and the other EU initiatives which aim at strengthening the EU legal framework regarding AI applications, especially in the field of privacy.
GDPR & corporate governance: the role of risk management and internal audit o...FERMA
The webinar discussed the full results and recommendations of a joint project between FERMA and the European Confederation of Institutes of Internal Auditing (ECIIA), to assess how the EU General Data Protection Regulation (GDPR) impacted our professions, one year after its enforcement. This webinar helped to know:
- To which extent the risk manager and the internal auditor are involved in the GDPR corporate implementation
- How GDPR has affected the interactions between risk management, internal audit and Data Protection Officer (DPO)
- What are the best practices and recommendations to embed personal data protection in the risk and audit governance of your organisation
After one year of GDPR implementation, FERMA and ECIIA sent in May a common basis of five questions to their risk and internal audit members.
The objectives were to:
- Evaluate the roles of the risk management and internal audit functions regarding the GDPR and personal data related risks
- Provide a unique insight into the implementation of the GDPR by companies to the European policymakers
GDPR & corporate governance: The Role of Internal Audit and Risk Management O...FERMA
This paper is a collaboration between FERMA and the European Confederation of Internal Audit Institutes ECIIA and focuses on the impacts of the GDPR on corporate governance practices in the year following its implementation. Most specifically, it looks at the roles played by internal audit departments and risk management functions.
Ferma report: Artificial Intelligence applied to Risk Management FERMA
FERMA brought together a group of experts from within and beyond the risk management community to develop the first thought paper about AI applied to risk management.
Their aim was to perform an initial assessment of the potential value of AI to improve enterprise risk management (ERM), and second, to understand how risk managers can be key actors in highlighting to the organisation leadership the opportunities and challenges of AI technologies.
The working group expects that corporate risk management will benefit from AI in several areas. “From its ability to process large amounts of data to the automation of certain risk management repetitive and burdensome steps, AI could allow risk managers to respond faster to new and emerging exposures. By acting in real time and with some predictive capabilities, risk management could reach a new level in supporting better decision making for senior management.”
This paper aims to guide risk managers on applying AI from a basic understanding to developing their own strategy on the implementation of AI. It includes an action guide and a template for risk managers to develop their own AI risk management roadmap.
Webinar: how risk management can contribute to sustainable growth?FERMA
This webinar will help risk management and sustainability practitioners apply enterprise risk management (ERM) concepts and processes to environmental, social and governance-related risks (ESG)
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
5 Things You Need To Know Before Hiring a Videographer
Environmental Risk Management
1. Environmental Risk Management
Valerie Fogleman
Consultant, Stevens & Bolton LLP
Professor, Cardiff University School of Law
Pierre Sonigo
Secretary General
FERMA
Christopher Robertson
Head of Environmental
Zurich
JUNE 26, 2013
Sponsored by
3. Valerie Fogleman
Consultant, Stevens & Bolton LLP
Professor
Cardiff University School of Law
Sponsored by
JUNE 26, 2013
Environmental Risk Management
6. Introduction to the ELD
Implementation and Enforcement
Variations and the Future of the ELD
Valerie Fogleman
Consultant, Stevens & Bolton LLP
Professor, Cardiff University School of Law
7. Introduction to the Environmental Liability Directive
Key purposes
to implement the polluter pays principle in respect of accidental
pollution
– “induce operators to adopt measures and develop
practices to minimise the risks of environmental damage”
to prevent and remediate environmental damage so as to lead to
a reduction in the number of future contaminated sites
to establish liability for environmental damage to species and
natural habitats protected under the Birds and Habitats Directives
in order to reduce the loss of biodiversity in the EU
8. Introduction to the Environmental Liability Directive
Transposed into national law of all Member States
(MS) by June 2010
Two categories of “operators”
– Annex III: strict liability for preventing or remediating an
imminent threat of, and actual, environmental damage to
protected species and natural habitats, water and land
– Non-Annex III: fault-based liability for preventing or
remediating an imminent threat of, and actual,
environmental damage to protected species and natural
habitats
9. Introduction to the Environmental Liability Directive
Imminent threat of environmental damage; operator must
carry out preventive measures “without delay”
notify competent authority “without delay” if measures
fail to dispel threat of damage
Occurrence of environmental damage; operator must
notify competent authority “without delay”
“immediately” carry out emergency remedial actions
carry out remedial measures agreed by competent
authority
10. Introduction to the Environmental Liability Directive
Remedial measures: land
removal, control, containment or diminution of
contaminants so that land no longer poses a significant
risk of an adverse effect on human health
remediation standard: lawful current use or approved
use
11. Introduction to the Environmental Liability Directive
Remedial measures: water, protected species and natural
habitats
Primary remediation: remediation and restoration to
‘baseline’ condition
Complementary remediation: if damaged site cannot be
fully restored, restoration of nearby site in addition to
partial remediation of damaged site
Compensatory remediation: losses between time that
environmental damage occurred and its full remediation
(providing, enhancing or improving same or new
resources at damaged and/or alternative sites)
12. Introduction to the Environmental Liability Directive
Applies to incidents after 30 April 2007
Exceptions
Rights of non-governmental organisations and other
interested parties
Optional provisions include
– scope of liability
– defences
– mandatory financial security
Supplements existing MS law; does not replace it, but
MS cannot apply less stringent law to ELD incidents
13. Implementation and enforcement variations
Mandatory and optional defences (permit and state-of-the-art
defences)
Permit defence adopted (16 MS)
– Belgium (regional level), Cyprus, Czech Republic, Denmark,
Estonia (except GMOs), Finland (limited), Greece, Italy, Latvia
(except GMOs), Lithuania, Malta, Netherlands (limited),
Portugal, Slovakia, Spain, UK (except GMOs in Scotland,
Wales)
State-of-the-art defence adopted (14 MS)
– Belgium (regional level), Cyprus, Czech Republic, Estonia
(except GMOs), France, Greece, Italy, Latvia (except GMOs),
Malta, Netherlands (limited), Portugal, Slovakia, Spain, UK
(except GMOs in Wales)
14. Implementation and enforcement variations
Joint and several / proportional liability
– Proportional liability adopted (modified liability in some
MS)
– Denmark, Finland, France, Italy, Slovakia
– Joint and several liability adopted
– All other MS
Mandatory financial security
– Bulgaria, Czech Republic, Greece, Hungary, Portugal,
Romania, Slovakia and Spain
– NB: not all brought in yet
15. Implementation and enforcement variations
Transposition as stand-alone legislation or
incorporation into pre-existing legislation
Designation of one or more competent authorities
Number of liability systems in a MS resulting from
transposition
Extension of strict liability for non-Annex III activities
Adoption of more stringent provisions
Threshold for water damage
Defences adopted as defences to liability not costs
16. Future of the Environmental Liability Directive
30 April 2013: deadline for submission of reports from
MS
30 April 2014: deadline for submission of report from
European Commission
– report to “include any appropriate proposals for
amendment”
17. Managing ELD Risks: Grey zones and
Uncertainties
Pierre Sonigo
Secretary General FERMA
18. The Industry Perspective:
Key and Emerging Risks regarding the ELD
1. New Concepts, difficult to apprehend
2. Legal Uncertainties
3. Insurance Coverage Uncertainties
4. What to do about it?
5. The Review of the ELD in 2014: major concerns for the
industry
19. New Concepts, difficult to apprehend
• What is an Environmental Damage ?
• How do I know if the “significant threshold” is met?
• How do I define a « Base line » ?
• How will compensatory and complementary damages be
calculated?
19
20. Legal Uncertainties
• Switch from civil law to administrative law
• Transposition of Directive by MS in different ways
– New legislation
– Changes of existing legislation
– Additional layer on existing legislation
• Exemptions options applied differently
– Permit exemption
– State of the art exemption
• Inexperience of Administration and local authorities
– Inconsistent number of ELD cases across the EU (from 80
cases to 0 cases in some countries)
20
21. Insurance Coverage Uncertainties
• Pollution is not ELD (and vice versa) !
• Several policies are applicable:
– Property
– Liability (General and ELP)
– Transport
– D&O
• Special issues to look for:
– Policy trigger (occurrence or claims)
– Policy period
• Threat of mandatory Insurance schemes and of
European Environmental Fund
21
22. What to do about it?
• Know your industrial sites & the Insurance products available
– Most “operators” already have Environmental protection policies and are
subject to stringent regulations
– Recommend development of ISO 14001 certification
• Know your exposure:
– To Properly identify your risk exposures:
• Inventory of all production sites and environmental impact studies conducted for
each one.
• Look for nearby Natura 2000 zones
• Evaluate Cross Border risks
23. The ELD Review in 2014:
No Time for Regulatory Change
For the future, the Industry needs:
•More monitoring of the ELD cases at EU level
Through the use of register and database: Collect and compile, provide data
on a public basis on the frequency, the costs, the average insurance pricing
of ELD related incidents.
•Better definition of ELD concepts
Significant threshold, baseline construction
•On going cooperation between member states
After 3 year of implementation, Member States just start to discover the
potential of the ELD.
It’s time to consolidate, not to introduce new changes.
Focus on what’s working and strengthen best
24. The ELD Review in 2014:
the Financial Security Issue
The voluntary financial security must remain the rule
•The voluntary market is working, why move to a mandatory
financial security scheme?
•ELD-related risks are too diverse and their exposure is over a
long period. It is against the polluter pays principle and
annihilate all prevention efforts
•Financial security is secondary in the ELD. The important is to
show that the company is managing properly its risks.
25. The ELD Review in 2014:
No Industrial Fund at EU Level
• An EU-wide fund is practically impossible
– Because of the moral hazard issue. A fund gives no
incentives to behave properly. It’s acting like a “tax”.
– Because the range and the scope of such a fund would
need tremendous resources in terms of staff, budget and
time for political agreement.
– It will quickly turn into a “bureaucratic monster”.
26. Thank you for your attention!
Pierre Sonigo
Secretary General FERMA
psonigo@gmail.com
28. INTERNAL USE ONLY
THANK
YOU
Environmental Risk Management
28
• Identifying risks that could result in environmental liability
• Assessment of potential impacts
• Prioritization of risk management measures
• Environmental Liability has changed under the Environmental Liability
Directive
29. INTERNAL USE ONLY
THANK
YOU
Challenges to be Overcome
29
• Changing regulatory landscape – in Europe and beyond
• Unknown risks during merger, acquisition, sale
• Demands of various stakeholders including:
• Regulator
• Employees
• Shareholders
• Public/society
• Customers
• Economic malaise impacting:
• Balance sheet
• Resources
• Capital expenditures
30. INTERNAL USE ONLY
THANK
YOU
A Balancing Act
30
• Strong risk management creates positive operating environment
• but…
• Risk management resources are not infinite!
• And companies do not operate in a vacuum.
• Balance is required to achieve success
• And accidents do happen
31. INTERNAL USE ONLY
THANK
YOU
Risk Management with Risk Transfer
31
• Environmental Liability Insurance market overview
• Broad appetite for insurable risk
• Policies crafted to address a variety of exposures for wide range of
industries
• Addresses gaps in general/public liability policies
• Significant capacity
• Multi-year deals
• Alternative risk transfer and Captive risk management solutions
• Claims expertise & experience
32. INTERNAL USE ONLY
THANK
YOU
32
Broad and relevant coverage
in a separate Program
Flexible coverage for:
• Obligations in tort or statute
• On & off-site
• Pollution events and environmental
damage
• Existing unknown or new pollution
events or environmental damage.
• Loss prevention costs
• Defense and investigative costs
• Crisis management costs
• Regulatory reopeners
33. INTERNAL USE ONLY
THANK
YOU
Addressing the challenges
33
• Coverage afforded for changes in regulations that may impact insured
• Regulatory re-openers
• New and historical pollution event / environmental damage
• Key elements of ELD – beyond pollution events to environmental damage
requiring:
• Primary remediation
• Complementary Remediation
• Compensatory Remediation
• Loss prevention costs
• Provides balance sheet protection which is in the interest of key
stakeholders including senior management and board of directors
34. INTERNAL USE ONLY
THANK
YOU
In summary…
• Risk management of environmental issues is essential to delivering for
key stakeholders
• Challenges exist for both domestic and global companies, SME’s and
large corporations
• A balanced approach and prioritization is needed.
• Environmental insurance can be an important tool for protecting
stakeholders
• The insurance market continues to evolve to address the risk
management needs of customers
• Zurich has years of experience developing and providing
environmental insurance solutions
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37. INTERNAL USE ONLY
Copyright 2013
The information in this presentation was compiled from sources believed to be
reliable for informational purposes only. All sample policies and procedures herein
should serve as a guideline, which you can use to create your own policies and
procedures. We trust that you will customize these samples to reflect your own
operations and believe that these samples may serve as a helpful platform for this
endeavor. Any and all information contained herein is not intended to constitute legal
advice and accordingly, you should consult with your own attorneys when developing
programs and policies. We do not guarantee the accuracy of this information or any
results and further assume no liability in connection with this publication and sample
policies and procedures, including any information, methods or safety suggestions
contained herein. Moreover, Zurich reminds you that this cannot be assumed to
contain every acceptable safety and compliance procedure or that additional
procedures might not be appropriate under the circumstances The subject matter of
this presentation is not tied to any specific insurance product nor will adopting these
policies and procedures ensure coverage under any insurance policy.
Zurich Insurance Group
37
Editor's Notes
C:\Documents and Settings\chy5484\Local Settings\Application Data\Office\Macros\Ppt_ci\Templates\Pres_blue_on_white.pot C:\Documents and Settings\chy5484\Local Settings\Application Data\Office\Macros\Ppt_ci\Templates\Pres_blue_on_white.pot Mismanaged exposure can cost you money and shareholder value, and prevent you from taking advantage of the opportunities that drive innovation and growth. A solid business resilience framework helps you to identify your key exposures and risks relevant to your business objectives that can threaten your viability. How well does your company understand its risk landscape, supply chain exposures and other business interruption risks emerging in the current operating environment?