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    SUSTAINABILITY MANAGEMENT APPROACH


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    CREATING A BALANCED ECOSYSTEM


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    AND MOTIVATED TEAM


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    QATAR STEEL COMPANY FZE (Dubai, UAE)


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    Qatar Steel Company FZE


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  • Home
  • About Us
    • Company Profile
      • Chairman’s Message
      • MD & CEO’s Message
      • Vision, Mission and Values
      • Board of Directors
      • Management Team
      • Regional Leadership in Steel Production
      • Our Production Facilities
      • Investment in Subsidiaries and Associates
      • Qatar Steel Memberships
      • History and Recognitions
  • Products
    • Our Main Products
    • Product Specifications
    • Product Quality
    • Sales & Marketing
  • Certifications
  • Sustainability
    • SUSTAINABILITY MANAGEMENT APPROACH
      • Message from Chairman
      • MD & CEO’s Message
      • Sustainability Policy
      • Qatar Steel Highlights 2021
      • Stakeholder Map
      • Sustainability Framework
      • Material Sustainability Issues
      • Strategy Map
      • Sustainability Roadmap 2021
      • Sustainability Performance Data
      • Qatar Steel’s COVID-19 Response
    • Building the Future
      • Product Innovation and Operational Efficiency
      • Product Quality and Traceability
      • Customer Satisfaction
    • Ensuring A Safe and Healthy Work Environment
      • Employee and Contractor Safety
      • Safety Governance
      • Safety Training
      • Emergency Response Preparedness
      • Occupational Health
    • Contributing to Qatar’s Development
      • Qatarization
      • Local Procurement
      • Community Investment
    • Creating a Balanced Ecosystem
      • Responsible Sourcing and Material Consumption
      • Efficient Energy Usage
      • Reducing Emissions
      • Water Consumption and Effluents
      • By product Management and Recycling
      • Biodiversity & Ecotoxicity
    • Developing a High Performing and Motivated Team
      • Training and Development
    • Practice Good Governance
      • Corporate Governance
      • Accountability and Ethics
      • Risk Management
      • Internal Audit
    • Achieving Profitable Growth & Business portfolio
      • Growth Strategy
      • Operational Overview
      • Financial Highlights (Consolidated)
    • Appendices
      • Reporting Scope and Boundary
      • Maturity Assessment
      • GRI Content Index and IPIECA Index
    • Qatar Steel Company FZE (Dubai, UAE)
      • Engaging With Stakeholders
      • Materiality & Maturity Assessment
      • Summary of Stakeholders Activities
      • Sustainability Performance Data
      • Reducing environmental impact. Decoupling growth from our environmental impact
      • Lifecycle assessments
      • Code of Ethics and Business Conducts
      • Feedback/Complaints
      • QSFZE Sustainability Policy
  • Customers
  • Procurement
    • Vendor Registration
    • Supplier Portal
    • NOC for Export
    • Purchase of Ferrous Scrap
    • HSE Procedures for Contractors
    • TAWTEEN – Supply Chain Localization Program
  • Media Center
    • Press release
    • Integrated Reports
    • Annual Reports
    • Qatar Steel Magazines
    • Sustainability Reports
    • Blog
  • Careers
  • Contact Us
Sustainability > Practice Good Governance > Risk Management

Risk Management

Qatar Steel’s Integrated Enterprise Risk Management framework plays a key role in value creation through supporting the achievement of the company’s objectives at strategic, tactical and operational levels. The key enabler is the priority and support risk management is given at all key levels of governance across Qatar Steel namely, The Board, The Board Audit Committee, The Qatar Steel Risk Management Committee, and at the company’s functional levels. Qatar Steel employs a risk-based decision making culture, through integration of risk assessments with all key decisions that mitigate business and strategic risks. During 2021 Qatar Steel implemented the Fraud Risk Management Policy to further strengthen fraud risk governance across the company. The risk responses to the current COVID-19 pandemic, and the risks associated with Qatar Steel’s value chain, including but not limited to the supply chain processes and cyber security, have resulted in Qatar Steel’s resilience and continuous improvements to achieve the respective business objectives.

The Enterprise Risk Management Framework is managed through the Qatar Steel Risk Management Policy, Qatar Steel Fraud Risk Management Policy, and the Qatar Steel Business Continuity Management Policy. Oversight of these policies has been delegated by the Board of Directors to the Board Audit Committee to ensure mitigation or management of risks that are above the Qatar Steel Board Approved Risk Appetite and tolerance levels. Qatar Steel’s risk methodology is based on the COSO Framework, and ISO31000:2009. The objective of sound risk management is among others its ability to support continuous improvement, a key value driver of a business and the maintenance and sustainability of the business in the short to long-term.

On-going scanning of the company’s operating environment in both the domestic and international markets, has enabled Qatar Steel to continue its operations from both a business continuity and profitability perspective. Risks and Opportunities are constantly identified and assessed for further action. Qatar Steel has continued to demonstrate operational resilience throughout the second COVID-19 wave that affected Qatar during FY2021.Despite the second COVID-19 wave, Qatar Steel was able to continue operating aided by the company’s business continuity plans and crisis management process.

  • Practice Good Governance
  • Corporate Governance
  • Accountability and Ethics
  • Internal Audit
  • Risk Management

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