Environmental risk management includes the identification, analysis, handling and monitoring of risks to the environment. Practical steps are required to minimise environmental impacts and the implementation of environmental improvement programs. Regular monitoring of company operations, potential hazards within the surrounding environmental context is vital to ensure that any changes in environmental risks are accounted for.
Companies are obligated to take all reasonable steps to minimise or prevent environmental harm. Robust risk management is best applied throughout all levels of the organisation. In so doing strengths, weaknesses, opportunities and threats are distilled; decision -making is improved; operational efficiencies are explored; and stakeholder and community relationships are enhanced.