The current risk landscape for business has changed as all of the top five risks identified for likelihood were environmental according to the World Economic Forum Global Risk Report in 2020. In addition, the complexities and connectivity of environmental, social and governance (ESG)-related risks mean companies must assess risks not just individually, but as an interconnected and aggregated group.

This report on the food and agriculture sector is intended to help companies more effectively assess their exposure to food system challenges and to integrate this knowledge into target setting and solution building.

It presents analyses from the application of an enhanced risk assessment technique – KPMG’s Dynamic Risk Assessment methodology – to the risk landscape represented by the perspectives of nine leading companies operating in the food and agricultural sector. This report dives into how a dynamic risk assessment can improve companies’ risk practices and identify crucial aspects to continue creating long-term value.

This report is a continuation of WBCSD’s risk work and the guidance built in collaboration with COSO on Applying Enterprise Risk Management to Environmental, Social and Governance-related Risks.