In developing our business, we acknowledge that it is necessary to take certain risks to maximise business opportunities. Our risk and opportunity management principles and system provide the framework for our Group to conduct business in a well-controlled environment.
As a company we are a part of the global economy and society and have to follow various legal rules. We have set ourselves standards of good corporate management to effectively and responsibly manage risks and challenges.We have established a corporate governance framework that addresses rights of shareholders, the responsibilities and duties of the Executive Board, including social and environmental considerations, and the Supervisory Board and how they collaborate, information and disclosure obligations, and solutions for any conflicts of interest. The governing principles we have established ensure good management and control of the business.
A comprehensive risk management system addresses internal or external risks that may affect the Group’s goals, strategies, brand image or financial performance and health. The Social and Environmental Affairs team (SEA) is an integral part of the risk management system and provides the Executive Board with regular updates on social and environmental risks and developments. SEA strategic business plans support the development of business contingency plans and staff advisories for public health and safety issues.Special guidance that forms part of our governance framework includes:
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