You have been recently hired as the Minister of Enterprise Risk, in the office of the Prime Minister, for your island/territory.

The country's revenue stream is derived from the following:

Energy/Energy industries 40% of its revenue (projected)

20% from manufacturing/exports

40% of tourism

There are 6 ministries that constitute the government they are:

Finance Ministry

Health and Safety Ministry

Tourism Ministry

Energy ministry

Environment and sustainability ministry

Social services ministry

The country has seen negative growth for the last 2 years, crime has increased, the population is restless and they have an immigration problem with an influx of citizens from neighboring islands. There is a global pandemic, a war in Europe is now 8 months old and counting, fuel, and food prices are rising and further supply chain disruptions are expected.

You have been asked to develop and submit to Cabinet for approval: A plan to implement an ERM framework that will be used by all business sectors. The framework must include, (along with other issues you deem important) the following:

Question:Develop a risk appetite statement.