Critical Success Factors of Sustainability Risk Management (SRM) Practices in Malaysian Environmentally Sensitive Industries

AbstractThis study aims to examine the Critical Success Factors (CSFs) of Sustainability Risk Management (SRM) practices and its impact on corporate survival in the Malaysian environmentally sensitive industries. Risk culture, leadership, emerging risk governance, and compliance were found to be critical factors in successful SRM practices. From a survey of 53 companies, compliance was found to be the most crucial factor in successful SRM practices and has an impact on corporate survival. Significantly, this paper contributes to better understanding of the critical factors in successful SRM practices for managing the emerging risks and other non-quantifiable risks, which affected corporate survival