menu
 
 

REN

Risk management

Set of activities which contribute directly to improving the performance of REN, preventing or mitigating the potentially negative consequences arising from the risks to which the company is exposed and boosting the opportunity identification.

In the development of its activities, the REN is exposed to a multitude of risks, which can be grouped into different categories:

1-environment risks,

2-Risks arising from the proceedings:

-Operational;

-Human Resources;

-Conformity;

-Financial.

3-risks associated with the quality of information for decision-making:

-Processes;

-Report;

-Strategy.

To ensure the effective management of the risks to which the company is subject, was developed in the company a specific process, the coordination and supervision is ensured by the risk management Committee (CGR), created in December 2010, as Consultive organ and in support of the Board of Directors in the modelling and monitoring of risks of greater severity to which the company is exposed.

These risks to which the REN is exposed may affect the company in multiple dimensions. After an analysis of the internal and external surroundings, and considering the risk appetite of the company, identified some risk categories where the acceptability of occurrence is smaller or even unacceptable. For each of these categories there are quantitative and qualitative limits that allow to evaluate, in the characterization of corporate risks, the impact or severity of risks.

These dimensions identified by REN are as follows, in descending order of criticality:

  • Health and safety: the REN believes that your main asset are people and therefore does not consider it acceptable to hazards with a high severity level for the health and safety of its employees and the employees of its contractors and service providers, to develop or promote all measures for the prevention or mitigation of those risks that are at your fingertips.

  • Compliance: given the strong regulation and rules that REN is subject to hazards that may lead to non-compliance with the rules and regulations, and the consequent sanctions, is not considered acceptable.

  • Environment: the REN is assumed as an environmentally responsible company, and environmental sustainability is one of its strategic goals. As such, the occurrence of risks that could cause irreversible environmental damage is not acceptable.

  • Financial: in the development of your activity, in particular in the expansion and improvement of transport infrastructure of electricity and gas, REN depends on a solid financial position and ability to raise financing, and does not consider acceptable risks which may have significant financial impact.

  • Image and Reputation: REN enjoys currently an image and solid reputation in domestic and international markets and is aware that the occurrence of risks with negative impact at this level may involve, in particular, financial losses, greater difficulty in attracting skilled resources and loss of commercial position.

For more information see the annual report.