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LexisNexis Business Solutions
A few years ago, we highlighted bribery and corruption vulnerabilities in the Energy sector, noting that “Companies linked to energy industries, in particular, face elevated risks in order to reap the equally high rewards.” But more recent events highlight the need for companies in this sector to move beyond due diligence or monitoring for regulatory risk alone. What is lending to the rise in risk?
The Energy Sector Keeps the World Running
The U.S. Department of Homeland Security notes that our energy infrastructure “fuels the economy of the 21st century.” It goes on to say that “Without a stable energy supply, health and welfare and threatened, and the U.S. economy cannot function.” And the same could be said about energy infrastructures around the globe. Clearly, there’s a lot at stake. Beyond the energy sector’s crucial role keeping the lights on, transportation running and data transmitting (even if that data is the latest viral video on YouTube®), you also have to contend with other PESTLE risk factors—and headlines are ripe with examples:
Next steps for improved risk mitigation