Risk appetite
One of the Group’s core principles is to deliver its strategic priorities in a sustainable and responsible manner. This requires that the Board gives careful consideration to the nature and level of risks that the Group should accept.
The Group draws a clear distinction between those risks that it is more willing to take, typically relating to advancing business prospects, and those that it is less willing to accept, e.g. safety, reputational, regulatory or compliance risks. A summary of the Group’s risk appetite can be found here.
Risk Management pdf
Principal risks and uncertainties
A key element in assessing the Group’s principal risks and uncertainties is considering likelihood and potential magnitude of impact, over a range of time horizons, as well as whether the risks are new or emerging, or have changed in importance during the year. The map below shows the assessment of the Group’s principal risks and uncertainties. A full list of the principal risks and uncertainties can be found here.
Principal Risks and Uncertainties pdf