Global Corporate Survey 2024: Risk Management Budgets, Priorities And Tech Preferences
Emma Cutler
Katelyn Johnson
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Executive Summary
Increasingly complex and interconnected challenges – such as geopolitical instability, economic uncertainty, technological disruption, and climate and ESG-related threats – shaped the risk landscape in 2024. Organizations faced challenges in balancing innovation and resilience as they navigated these risks. At the end of 2024, Verdantix surveyed 300 risk executives across 16 different industries and six regions to understand the impact of these risks on their organizations, as well as their risk strategies, for the years ahead. Of these respondents, 71% represent firms with revenues of $1 billion or greater. Respondent data reveal significant pressures from ESG reporting obligations and the growing need for digital strategy to manage today’s evolving risks. Risk executives can use this report to benchmark their firm’s investment priorities, risk digital transformation and budgets relative to their peer group. Risk management software and service providers can use this report to align product strategy with evolving buyer demands.Global survey reveals increasing budgets amid growing regulatory pressures
Global survey features insights of 300 risk executives across 16 industries and six regions
ESG regulations put growing pressure on risk executives, yet integration into frameworks and strategies remains limited
New and emerging risks, along with rising regulations, demand expanded voices in risk management
Climate and ESG risks continue to highlight a disconnect between firms’ stated concerns and their risk management strategies
Firms are embracing technology to help manage today’s dynamic risk landscape
Regulatory pressures drive increased spend on risk management
Organizations are looking to upgrade their technology to support their risk journey
Figure 2. Survey respondents: geographic breakdown
Figure 3. Survey respondents: industry breakdown
Figure 4. Ranking of significance of risks across all industries
Figure 5. Materiality of risks over the last 12 months
Figure 6. Involvement in strategic risk management
Figure 7. Views on climate change risk to physical assets
Figure 8. Views on climate-change-related energy transition risks
Figure 9. Views on ESG risks
Figure 10. Integration of ESG and sustainability (incl. climate-related) risks into core risk management processes
Figure 11. Significance of factors causing increased spend on risk management over the last 12 months
Figure 12. Extent to which firms have implemented software to support risk management processes
Figure 13. Priorities for risk management technology over the next two years
Figure 14. Change in spend on risk management software over the next two years
Figure 15. Importance of particular criteria in influencing purchase decisions
About the Authors
Emma Cutler
Principal Analyst
Emma is a Principal Analyst at Verdantix, with a current research agenda focusing on solutions for climate risk management. She has a background in simulation and statistical ...
Katelyn Johnson
Senior Manager
Katelyn is a Senior Manager at Verdantix, specializing in enterprise risk management and external risk and resilience. She helps executives navigate today’s evolving ris...
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