Risk management objective and principles in the TAURON Group
Risk management objective and principlesin the TAURON Group
In the TAURON Group, risk is understood as an uncertain occurrence or a group of occurrences that may have an impact on achieving by the TAURON Group of its defined strategic goals, both favorably (threat) and unfavorably (opportunity).
In line with its Strategy TAURON Polska Energia is implementing the process of managing the risk related to the operations of the TAURON Group. The primary goals of risk management include ensuring the broadly understood security of the Group’s operations. In particular, the purpose of risk management is to ensure increased predictability of the Group achieving its strategic goals, including financial results.
Risk management strategy in the TAURON Group:
Covers all elements of the value chain,
Provides centralized risk measurement, monitoring and control function, and also ability to evaluate the full risk profile in the organization and coherent risk management principles,
Ensures independence of the risk taking function from its control and monitoring,
Ensures a clear split of competences and responsibilities, in particular by introducing the risk ownership function,
Is an active process, focused on an appropriately early identification of threats, allowing for taking preventive measures,
Is a systematic and continuously improved process which allows for aligning it on an ongoing basis to the Group’s specifics and organizational structure, as well as to the changing environment,
Places a strong emphasis on developing awareness, training and encouraging personnel to use the knowledge of risks in daily activities,
Co-creates in the TAURON Group the internal audit system, constituting, along with the compliance and security management functions, an element of the three lines of defense.