Environmental risk is becoming more influential in many companies' decision making every day. Every company has some level of environmental risk, and it is important to identify those risks early on in the development stage of any company. If you are just starting your business, an environmental risk management plan should be one of the first plans you develop. If you are just taking over a business that is already established, make sure you find out what plan they have in place and make any necessary upgrades to guard against environmental risk factors.
The costs associated with ignoring a company's environmental risk can be such that a company may not recover after just one accident. Because of this, it is paramount that you take the time to develop a risk management plan. You can include a section in your company's overall risk management plan that focuses on environmental risks, or you can create a separate plan to address these specific potential risks.
Tips for lessening a company's environmental liability
The first step to developing a risk management plan is to contact any regulatory comities or government agencies whose policies affect your company's environmental liability. At the national level in the United States that group is the EPA or environmental protection agency. The EPA has a set of federal guidelines and responsibilities that must be adhered to or a company could face legal action and staggering fines. Knowing these regulations will help you identify the areas where your company is most vulnerable.
Your employees will be a valuable resource to you if utilized properly. Many of the best risk management practices will occur on the front lines of your business. The employees who are in direct contact with potentially hazardous chemicals and other volatile environmental pollutants are often the best people to develop solutions for how to contain them properly. As you develop your environmental risk management plan, solicit ideas from all levels in your company. If you are starting from scratch and have not hired employees yet, there are specialists whose job it is to help new companies identify their environmental risks and develop plans to mitigate them.
Even business owners with the best of intentions cannot guard their company against every possible risk scenario. For this there is a solution. Just like you carry car insurance to protect you should an accident occur, business owners are strongly advised to investigate an environmental insurance policy. These policies protect your businesses assets should an accident occur. An insurance policy should be part of any environmental risk management plan.
The costs associated with ignoring a company's environmental risk can be such that a company may not recover after just one accident. Because of this, it is paramount that you take the time to develop a risk management plan. You can include a section in your company's overall risk management plan that focuses on environmental risks, or you can create a separate plan to address these specific potential risks.
Tips for lessening a company's environmental liability
The first step to developing a risk management plan is to contact any regulatory comities or government agencies whose policies affect your company's environmental liability. At the national level in the United States that group is the EPA or environmental protection agency. The EPA has a set of federal guidelines and responsibilities that must be adhered to or a company could face legal action and staggering fines. Knowing these regulations will help you identify the areas where your company is most vulnerable.
Your employees will be a valuable resource to you if utilized properly. Many of the best risk management practices will occur on the front lines of your business. The employees who are in direct contact with potentially hazardous chemicals and other volatile environmental pollutants are often the best people to develop solutions for how to contain them properly. As you develop your environmental risk management plan, solicit ideas from all levels in your company. If you are starting from scratch and have not hired employees yet, there are specialists whose job it is to help new companies identify their environmental risks and develop plans to mitigate them.
Even business owners with the best of intentions cannot guard their company against every possible risk scenario. For this there is a solution. Just like you carry car insurance to protect you should an accident occur, business owners are strongly advised to investigate an environmental insurance policy. These policies protect your businesses assets should an accident occur. An insurance policy should be part of any environmental risk management plan.
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