Risk management
One of the greatest challenges as we pursue our strategy of controlled, long-term growth is to limit the manifold financial, operational and HSSE risks. That is why we work based on a permanent and thorough risk management scheme that individually rates all risks and defines tailor-made mandates, tasks, and responsibilities. To further ensure a healthy mix of risk, all risks – including social and environmental ones – are evaluated in the context of the entire group of companies. We take a decentralized approach whereby risks are broken out to the individual companies and responsibility is assigned at operating unit level. The principal risks that may affect future business performance include:
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Currency fluctuation
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Another international financial crisis flare-up and/or sustained economic downturn
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Political conflict in oil-producing countries and the resultant tensions on the oil markets
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Rising prices for natural resources and purchased energy
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Environmental and natural disasters as well as effects of the climate change
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Higher risks in countries we are active in
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Global pandemic, such as the global outbreak of COVID-19