Risk Management

Management Approach to risks

The responsibility of each of the committees are provided on the Corporate Governance page. Our approach to risk management is structured on Enterprise Risk, Finance and Internal Controls Risk as well as Environmental Risk.

Enterprise Risk Management

Management of Enterprise Risk is based on effective leadership provided by the Board through Executive, Audit and Risk and the Finance and Investment Committees. The Board reviews all material business and financial risks to provide sound decisions and targets for implementation. The Group uses the following instruments and approaches to risk management:

  • Maintaining ISO9001, ISO17025 and ISO22000 standards in some business units.
  • Supplier and/or customer compliance Audits.
  • Safety, Health, Environment and Quality (SHEQ) policies
  • Providing effective leadership to ensure all forms of risks are
    identified, evaluated and monitored.

The Group continues to work with its companies to attain other Certification and Standards where appropriate.

Risk-Management

Financial and Internal Control Risk

The Audit & Risk Committee plays a critical role in assisting the Board with managing internal control risk within the Group as is fully explained on the Corporate Governance page.

Environmental Risk

The Group manages Environmental Risks by undertaking regular environmental and health inspections and applies internal environmental management procedures and standards to mitigate environmental impacts. The Group ensures compliance with the Environmental Management Agency (EMA) provisions and local authorities’ by-laws at all times.