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 political and social repercussions. 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 to develop 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 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 social brand.
- Social impact assessments SIA provide an independent review of a client’s operations, about short-term and long-term consequences to business and suitability goals. Mainstay has a combination of highly qualified and experienced in-house analysts with on-ground experts who offer assessment services and reviews for clients seeking an independent audit or an evaluation of their social impact on their operations.
- Perception Risk Management is taken care of by imparting strategic communication and information dissemination, the process deploys IEC tools and methodologies in engaging groups, institutions, and the community at large.
