This article forms part of our "Spotlights: Impacts in action" series looking at the impact our responsible business framework is having on clients, colleagues, communities and governance.
Article last updated 3 April 2026.
Our approach to risk management is fundamental to supporting the delivery of our strategic objectives. Our risk governance and risk processes are designed to enable the firm to manage risk effectively in accordance with our risk appetite and to support the long‑term future of the firm.
During the year, our executive committee continued to recognise and respond to a number of emerging risks and threats to the financial services sector as a whole and to our business. For 2025 artificial intelligence and climate transition risk were highlighted as emerging risks; see page 61 of the Annual Report.
Our principal risks require continuous enhancements to the Group’s business model in response to environmental, societal, and regulatory expectations, the evolving cyber threat landscape, operational resilience, the critical importance of our people, and the broader economic and political environment.
Our 2026 priorities, will help us to deliver long‑term value. We are responding to evolving expectations of firms to manage climate and other ESG risks, which remain a key priority of our responsible business agenda. In 2026 the commercial and environment aspects of Sustainability will be separated and two new principal risks created: Business Model and ESG & Climate, to provide greater granularity.
