Workshop on non-financial risk managementOn July 2, 2018, the State Committee of the Republic of Uzbekistan for Assistance to Privatized Enterprises and Development of Competition hosted a workshop on “Non-financial risk management” in cooperation with the UNDP Project “Support to Investment Climate Improvement in Uzbekistan”, the State Assets Management Center and the KPMG Company.
The goal of the seminar is to familiarize employees of government agencies responsible for developing corporate governance, competition and attracting investments, as well as large joint-stock companies with a state share in the statutory fund, with the world’s leading practices in building a sustainable development management system (non-financial risk management).
Three basic moments of non-financial risks management in corporations were considered at the workshop.
In particular, Ivan Barsola, Director of the Corporate Governance and Sustainability Group of KPMG in Russia and the CIS, briefed the workshop participants on the current requirements of the investment community and other stakeholders for companies in management of social, environmental and socio-economic impacts.
Key principles of effective construction of the non-financial risk management system were considered. Thus, an overview was made of the most common and recognized standards and guidelines for building sustainable development management systems, as well as key elements of the non-financial risk management system.
According to the Committee, during the discussion, the workshop participants and representatives of the KPMG exchanged information on the state of affairs in the designated area in Uzbekistan companies.
In the third part of the workshop, participants were provided with information on the basic trends and requirements for annual non-financial reporting of companies.