The latest enterprise risk management news from around the world

First enterprise risk and resilience management standard for the utility sector published

BSI and the Dubai Electricity and Water Authority (DEWA) have launched PAS 60518:2020, a new guidance standard entitled ‘Developing and implementing enterprise risk and resilience management (ERRM) in utilities’.

The standard was developed by DEWA in cooperation with BSI and gives guidance on the implementation of enterprise risk and resilience management (ERRM) for electricity, gas, water and wastewater utilities of all sizes in the public and private sectors around the world.

According to the standard ERRM builds on ERM and is designed to be an integrated and joined-up approach to managing risk and improving resilience across an organization and its extended networks.

It provides a way to guide/decide on the level of organizational investment to be made to increase organizational resistance, as well as response and recovery capability.

During a virtual launch ceremony, Howard Kerr, Chief Executive, BSI Group, presented Al Tayer with the Global Recognition Award, in recognition of his efforts to enhance excellence in risk management and resilience. Scott Steedman, Director of Standards at BSI, DEWA’s Executive Vice Presidents and Vice Presidents attended the launching ceremony.

More details and obtain the standard.

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