On October 30, 2018 Enhesa attended the annual PARIMA Conference held at the Akasaka Intercity Conference Center in Tokyo. PARIMA is the Pan-Asia Risk & Insurance Management Association, focusing on various business-related risks and mitigations through insurance. The conference was attended by over 300 delegates; over 50 percent were risk managers from some of the region’s largest companies.
The conference offered a number of interesting sessions throughout the day, which were mostly related to emerging risks and measures such as cyber security, global business interruption risks, geopolitical risks and innovative technologies.
The Manager of Enhesa’s Tokyo Office, Hiromi Tasaki, was an expert panelist in the “Resilience in a Climate of Geopolitical Turbulence” panel. During the session, she stressed the emerging risks from increased stringency in EHS regulations and enforcement in certain jurisdictions—such as China. Changing regulations are considered one of the main geo-political risks. For example, there have been many cases in China leading to operational shut-downs due to breaches of EHS regulations, resulting in major supply chain disruptions and damaged reputations. Ms. Tasaki concluded her participation on the panel by stating: “There is a fundamental need to have globally consistent risk management strategies within multinational companies; those strategies also need to consider risks to the environment and workers.” This point was widely agreed upon by the other panelists and the audience.
The importance of EHS compliance risks to risk managers in Asia was recently highlighted by the results of a PARIMA survey: 51% of respondents have some degree of EHS responsibility; 53 percent of those that don’t believe they should have some form of EHS responsibility. This means three quarters of respondents consider EHS risks as something that does, or should, fall within their remit.
Enhesa and PARIMA are strategic partners. Enhesa has been providing services covering EHS laws and regulations across Asia for the past two decades. As EHS is increasingly being considered a part of the role of risk managers in the region, the partnership is a logical step for both parties. Enhesa has also recently expanded its operations into Asia, opening offices in Tokyo and Shanghai. Enhesa’s expertise in assisting global multinational companies address the risks they face from non-compliance with EHS laws and regulations will help support and inform PARIMA’s membership base. Asian companies doing business globally are increasingly recognizing the need to manage their EHS risks across all the countries where they operate in order to protect their employees, the natural environment and ultimately, their reputation.
Through this partnership, Enhesa and PARIMA will be developing and participating collaboratively in:
- Research studies and benchmarking surveys on how EHS risks are currently managed by companies across Asia
- Webinars highlighting the key challenges and trends in EHS regulation and policy in Asia
- Other publications and conference presentations focusing on best practices to EHS compliance management.
As an EHS compliance-focused company, Enhesa partners with global companies to support their EHS compliance management programs. Enhesa’s in-house team of multilingual regulatory analysts provide clear, concise and standardized content and insight on current and future EHS regulatory obligations in more than 285 jurisdictions worldwide, many of which are in Asia.
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