Scope, risks, and objectives are easier to defend when you can show the issues you considered. In the ISO management system standards, that record is the context of the organisation: issues inside the organisation and issues outside it.
Internal and external
Internal issues come from inside the organisation, such as structure, culture, resources, or systems. External issues come from outside it, such as law, market, technology, or suppliers.
A useful row says what the issue is and why it matters to the management system. An owner monitors it and updates the record when it changes.
How this fits the other registers
Interested parties are the people and organisations with needs. Context of the organisation is the situation those needs sit in. How context of the organisation helps describes the product.