Qatar Steel’s vision of Risk Management holds that all significant obstacles to the achievement of the company’s strategic objectives must be identified, assessed, and managed within acceptable levels. To achieve this vision, for the year 2015, the company adopted a comprehensive and integrated Enterprise Risk Management (ERM) framework for mitigating the various risks to which the businesses are exposed to in the course of their operations, as well as in their strategic actions.
Further to this in the year 2016, a comprehensive Group wide Bottom-up and Top Down risk assessment has been performed, wherein Internal and external factors affecting the company’s ability to achieve set objectives are identified at various points in the business cycle. Such identified risks are captured in the department-wise Risk Register, to catalogue, rate, and flag the risks, which are being monitored and reported. This process will heavily support the management of sustainability risks and priorities, and will influence the deployment of Qatar Steel’s Sustainability Roadmap.