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Its latest Global Outlook report (bit.ly/2sOgOjx) finds that reputational risk, such as that presented by safety and health, environmental and data security failings, moved into third place in the concern ranking, behind operational risks and emerging technologies. It did not even appear in the top ten in 2016.
Respondents report that they expect reputational and brand risk to have the second-biggest impact on their businesses' growth over the next three years.
"The impact of social and mainstream media spreading damaging news on a global scale and at a pace never seen before, is well understood by CEOs," says KPMG.
The report is based on a survey of 1,300 of the most senior officers in companies round the world.
Chief executives are also concerned about the risk of cyber-attacks on their businesses but the proportion who say they believe they are adequately prepared for these has risen to 42% from 25% last year. The proportion of UK CEOs who believe they are resilient is even higher at 59%.
UK chief executives are less concerned than the global average that increasing regulation will damage business growth.
Three-quarters (74%) of the executives surveyed say they are placing more emphasis on building trust in their organisations and a similar proportion (72%) believe that making their companies more empathetic would be associated with higher earnings.
"Companies today are increasingly realising that building trust is consistent with their business objectives," says KPMG.
In an open letter to Prime Minister Theresa May, more than 70 leading organisations and figures from the UK’s safety and health profession, including IOSH, the British Safety Council and the Royal Society for the Prevention of Accidents, have asked her to “scrap the government’s approach to health and safety deregulation and think again”.
IOSH, the British Safety Council and the Royal Society for the Prevention of Accidents are among those organisations that have called on the government for a “change in mindset” towards safety regulations since the blaze in the 24-storey social housing block on 14 June, which killed at least 80 people.They sent an open letter to Theresa May on 21 June, urging the government to scrap safety and health deregulation.
WPD had instructed a group of 15 employees to carry out emergency repairs at a remote site in Cawsand after a subcontracted pole tester had identified low-hanging overhead cables on 16 January 2013. The work involved replacing four uninsulated wire conductors with an aerial bundled conductor (ABC) on eight poles, each sited about 40 m apart in a wood leading down to the Ministry of Defence Royal Navy’s adventure training site, Pier Cellars.
Two workers suffered minor injuries from the blast when Industrial Chemicals was operating the plant’s new hydrochloric acid (HCI) burner on 26 September 2013. Chelmsford Crown Court heard on 7 July that the burner had been used only a few occasions previously. The site had been under construction and was undergoing commissioning.
Sukhdev Kundi was working on a stepladder on the first floor of the property when the incident happened on 30 May 2012. As he was pulling cables, he fell off the ladder and through an opening, landing 4 m below.Kundi broke his spine in three places and was paralysed from the chest down. He spent three months in a coma and a total of 12 months in hospital. He died in May 2015, with the cause of death being respiratory failure due to a collapsed lung and pneumonia alongside his spinal injuries and paraplegia.
The victim was helping Bespoke Bodies employees clean valley gutters at the company’s Warrington site in Cheshire, Liverpool Magistrates’ Court was told. On 14 April 2016 he stepped back onto a fragile skylight and fell 9.1 m onto a table, sustaining three fractured ribs and a ruptured spleen. The company had failed to identify the risks associated with working at height on fragile surfaces and had not properly supervised the job, the Health and Safety Executive said.