Effective risk management facilitates the anticipation of uncertainties that could impact us tomorrow. By recognizing and managing risk, we are able to make the most out of opportunities to create shareholder value and deliver on our commitments to customers,employees, the environment and the community.
At Sprout Group, formal risk management processes are embedded within day-to-day management of the business. We aim to ensure a common culture throughout the Sprout group of companies (Group) that promotes awareness of potential exposures and opportunities created by risk.
The Group’s approach to risk management is guided by the International Standard on Risk Management ISO 31000. In addition to operational and financial risk, the categories of risk given particular focus are Legal and Compliance Risk and Environment, Health and Safety(EH&S) Risk.
In relation to EH&S Risk, we aim to achieve a workplace free of incidents, injury and fatalities consistent with our Incident & Injury Free philosophy and to be a leading fully integrated property solutions provider delivering environmentally responsible property solutions that generate sustainable social and economic returns.
Our Policy is to:
1. Use an Enterprise Risk Management approach to identify, evaluate, treat, monitor,quantify and report significant risks to the Risk Management and Audit Committee;
2. Embed the management of risk as a central part of planning and management processes;
3. Provide the training, facilities and motivation necessary for our people to implement and maintain effective risk management practices;
4. Balance risks and business objectives when developing risk treatments and risk transfer arrangements; and
5. Encourage the adoption of Sprout Group risk management practices by our associated entities.