Antoncic, M. (2019). Why sustainability? Because risk evolves and risk management should too

Question 1

What is the central argument of Antoncic (2019)?

Answer 1

Risk is evolving — and risk management must evolve too by integrating sustainability (ESG) risks into enterprise risk frameworks.

Question 2

Why are ESG risks considered financially material?

Answer 2

Because they can lead to major financial losses (e.g., climate events, governance failures, data breaches) — turning “non-financial” risks into strategic and economic threats.

Question 3

What is the “implementation gap” in ESG risk management?

Answer 3

Many companies report on ESG but fail to integrate these risks into their ERM systems or investor disclosures.

Question 4

What’s the upside of ESG risk management?

Answer 4

It’s not just about mitigating risk — it can drive innovation, long-term value, and competitive advantage