At Sierra, we continue to ensure high performance in terms of our Business Ethics and Corporate Governance and to monitor our financial impact on key stakeholder groups. Nevertheless, the key underlying principle underpinning all of our sustainability efforts is Risk Management, which has also underpinned our recent decision to prioritise nine material social and environmental impact areas, that are most likely to link to our financial performance.
Rigorous risk management processes continue to be applied to ensure that each of these material impact areas is tightly managed and controlled, so as to avoid any detriment to the company and maximise opportunities. At Sierra, we have identified social and environmental risks facing the business alongside financial, technological, political and governance risks both today and in the future. As part of our CR Governance structure, we now operate a Risk Management Working Group, reporting directly to the CR Steering Committee and the Chief Finance Officer (CFO), which includes members from Sierra’s different businesses and activities and Risk Owners (persons who undertake the actual management of risks to the company). This Working Group takes responsibility for Risk Management across all CR impact areas and the economic pillar of CR, the identification of new risks and the identification of best practices in Risk Management and communication, among other functions.
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