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Vigilance Awareness Week 2017
 
       "To be a world-class petrochemical company, with dominant Indian presence and a preferred choice of customers in terms of quality and value."    
 
 
Risk Management Policy        
. . .

OPaL is committed to:

  • Embed risk management into the culture and operations of the company.
  • Integrate enterprise risk management into strategic planning, activity planning, performance management and resource allocation decisions.
  • Manage risk and leverage opportunities in accordance with best practices
  • Regularly re-asses the company’s risk profile and effectiveness of risk mitigation plans in context of various strategic plans, National and International standards
  • Anticipate and respond to changing social, environmental and legislative requirements

OPaL is committed to achieve these objectives by

  • Promoting an enterprise wide approach by integrating risk management processes with business strategy, project management, decision making, audit, insurance and regulatory compliance.
  • Promoting proactive recognition of external factors and anticipating uncertainties that may affect the achievement of risk mitigation strategy.
  • Protecting the interests of Company’s shareholders and other interested parties
  • Providing assurance to customers, employees, contractors and the community through consistent and transparent risk assessment of every functional area
  • Defining appropriate ownership and accountability for risk mitigation plan.
  • Imbibing risk mitigation philosophies at the design stage and implementing controls that provide appropriate assurance and are cost effective.
  • Implementing timely and accurate monitoring, review and communication mechanisms that are critical to provide early warning of risk occurrences and consequences
  • Developing a sustainable approach to ensure shared responsibility for risk management at all levels of the organization.

Date: 17.12.2019

(Avinash Verma)
Managing Director

 

 

 

 
 
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