Managing risks means anticipating, communicating, coordinating and monitoring. The long-term relations Veolia Environnement has built with its clients lie on our ability to manage the risks involved in the activities we carry out on behalf of our clients. The company has introduced a cohesive system of risk management and prevention which is crucial to its development.
The Risk Management Department was set up in 2004 to enhance the company's ability to anticipate, analyze and weigh all types of risk, making sure it is adequately prepared to deal with them. The department incorporates the functions of risk management, insurance and internal auditing.
It is backed by the company's Risk Management Committee, which is made up of representatives from Veolia Environnement and its four divisions. The committee has the responsibility of coordinating risk analyses and implementing action plans.
Role of the Risk Management Committee
It has three key objectives:
- identifying major risks;
- evaluating methods of handling each of these risks on three different scales - the company, divisions and subsidiaries;
- monitoring action plans submitted to or initiated by the committee.
Actions of the Risk Management Committee
In 2009, Veolia Environnement's Risk Management Committee considered the deployment of specific action plans to target key operational risks:
- giving feedback on the company's alert procedures;
- reviewing the "Safety" action plans and taking subsequent steps;
- deploying regulations for governing sectors of vital importance (Secteurs d'Activités d'Importance Vitale - SAIV) in France;
- anticipating the potential outbreak of a swine influenza (H1N1) pandemic;
- assessing environmental performance and the Environmental Management System;
- managing the risks related to changes in energy prices;
- mapping chemical risks;
- compiling a file with sustainable development opportunities and risks;
- preparing the company in light of regulatory changes related to risk management for listed companies (French Law of December 8, 2008).