Social Risk Management

Social Risk Management

Today business and its operations are part of a social environment, with each affecting the other. If the company fails to accommodate these impacts, it is likely to face a political and social repercussion. Social risks are always present. Workers and human rights violations, environmental degradation, corruption or the implications of undue social and economic stratification or marginalization not only cause serious harm to the local people involved but can make business unsustainable over the long run.

At Mainstay, we help our clients to identify, monitor and mitigate those risks, thereby maximizing sustainable business opportunities. We assess the risk of business integrity lapses, as well as adverse human rights and environmental impacts on key stakeholders.

  • Stakeholder mapping and engagement will help developing alliances that build support and awareness and recommend ways to maintain positive engagement. Assessing social, environmental and product vulnerabilities, help mitigate risk element by building positive perception, and equitable social brand and visibility.
  • Rights-based and ethical due diligence provides clients with a detailed analysis of the company’s operations and relationships in its social, political and economic footprint, and then evaluates that analysis in light of human rights benchmarks of national and international.
  • Implementation guidance on industry initiatives such as the Voluntary Guidelines on Corporate Social Responsibility, Social Disclosure and Non-Financial Reporting, Sustainability Reporting helps clients manage social licenses and social perception for improving the social brand.
  • Social impact assessments (SIA) provide an independent review of a client’s operations, in relation to short-term and long-term consequences to business and suitability goals. Mainstay has a combination of highly qualified and experienced in-house analysts with the on-ground experts offering assessment services, reviews for clients seeking an independent audit or an evaluation of the social impact on their operations.
  • Perception Risk Management is taken care by imparting strategic communication and information dissemination, the process deploys IEC tools and methodologies in engaging groups, institutions and community at large.

Click here for More Details on Social Risk Management