“ Risk is a conscient choice, not a twist of fate....“
SNTGN TRANSGAZ SA's approach to risk management combines the knowledge, expertise and experience of staff to address current risks and anticipate future ones.
Risk management is an integral part of decision-making at all levels and adds sustainable value both by increasing the likelihood of achieving objectives in an efficient and effective manner and by reducing the negative impact of operational activities on the environment, while enhancing the positive effects for people and nature.
SNTGN TRANSGAZ SA continuously reassesses its risk portfolio within a structured, systematic and up-to-date framework that is supported by the following pillars:
- Risk Management Strategy, 2021-2025, a document that promotes anticipation, thus preparing the company to thrive in an uncertain environment. The strategy sets out the company's attitude and approach to risk, the risk tolerance limit, the strategy adopted for responding to risk, the vision, specific objectives and the measures required to achieve them;
- System Procedure PS 05 SMI Risk Management: establishes a unitary set of rules for risk management and the preparation and updating of the Risk Register;
- Risk profile: provides an overview, including a general, documented and prioritized assessment of the range of company identified risks. The risk profile of SNTGN TRANSGAZ is updated annually;
- Risk tolerance limit: is the level of exposure to the risk assumed by the company;
- Internal decisions for appointment and Rules for the organising and functioning of the Monitoring Committee and of the Risk Assessment team.
Statement of commitment on Risk Management 2021-2025