ABSTRACT
Risk management began by striving to obtain technical control of emissions from equipment and production processes. If risks are characterised by technical issues, then a quantitative analysis of likelihood and effect often seems logical. From the technical perspective and the cost perspective, risk prevention is concentrated on internal business issues. Apart from technical risks, market risk—such as the reduction of sales because of ecological scandals—is an important part of risk management. Some environmental risks can be insured by an insurance company. The idea of a risk dialogue can be used to address risk management by securing the legitimacy of the business. Risk has become more than an issue of optimisation and economic management. A risk or risk–return dialogue can add further information and knowledge to the process of risk assessment and allow business to give early consideration to project risks. Innovations are closely linked to returns and risks because they provoke changes with uncertain outcomes.
