We recognise the need for agility and vigilance in a dynamic business landscape. Our robust risk-management framework identifies threats and devises effective strategies. This ensures optimised operations, fosters inclusivity, and maintains our industry leadership. The Risk Management Committee oversees major threats, defining controls and strategies. The Board’s Enterprise Risk Management methodology identifies risks early for proactive mitigation. Thorough internal control examinations ensure management efficacy and financial reporting assurance.
The detailed risk management framework with the mitigation measures can be accessed in our Annual Integrated Report FY 2023 (Page 18-20)
Among the various risks as per the ERM framework, the top risks associated with the sustainability / ESG is highlighted in the table. We have mapped the key material issues associated with these identified risks below:
Reduced environmental footprint, optimal resource utilisation, and increased usage of renewable energy sources have never been more crucial. It is also essential to follow environmental laws and regulations. Our inability to maintain strong environmental regulation standards may harm our brand and have financial consequences.
Our industry is rapidly evolving, and it is essential to retain and attract people. The incapacity of the company to build up an experienced and skilled workforce with particular technical abilities may have a detrimental impact on its economic prospects. Furthermore, very high turnover rates and longer lead times for onboarding new and/or replacing employees can heighten risks.
We are committed to minimising environmental impact. Our Environmental Management System (‘EMS’) is in accordance with ISO 14001:2015. We also conduct EMS reviews on a regular basis to certify our adherence to national and regional laws. We have established environmental goals and objectives that drives the company towards our goal.
A highly skilled workforce with technical knowledge and expertise is imperative for the organisation. We, therefore, take great care to recruit and retain employees suitable for specialised roles. To ensure professional as well as personal growth of employees, we remain keen to foster a collaborative and inclusive working environment that supports diversity and respects every individual. We also train and nurture young minds to become future leaders, to take the organisation to greater heights of success. Our proactive policies to ensure the physical and mental wellbeing of employees also augurs well for our people .
