The Risk and Insurance Department is tasked with drawing up Veolia's risk management policy and ensuring consistent application.
The department oversees the implementation of Veolia's risk management initiatives to enhance its ability to anticipate, analyze and weigh all types of risk, and make sure it is adequately prepared to deal with them. It coordinates and provides a point of contact for issues related to strategic risks affecting Veolia, backed by an international network of risk managers who effectively deal with risks on both a local and global level. It maps risks for individual countries and for Veolia as a whole. These findings are submitted to the Executive Committee at risk committee meetings as well as to the accounts and audit committee to approve and monitor the effectiveness of action plans.
ROLE OF THE RISK COMMITTEE
The risk committee has three key objectives:
- approving the identification and assessment of major risks;
- ensuring oversight of central Veolia initiatives to mitigate risks, along with specific measures for individual countries;
- validating and monitoring action plans submitted to or initiated by the committee.
RISK COMMITTEE ACTION PLANS
In 2009, Veolia's risk committee began introducing specific action plans to tackle major operational risks. These measures include:
- Feedback on the company's alert procedures
- A review of the campaign to deploy safety action plans and take subsequent steps
- The deployment in France of regulations governing sectors of vital importance (Secteurs d'Activités d'Importance Vitale - SAIV)
- Preparations for a potential outbreak of a swine flu (H1N1) pandemic
- Environmental performance and the Environmental Management System (EMS)
- Management of risks related to changes in energy prices
- Chemical risk mapping
- Preparing the company to ensure compliance with regulatory changes related to risk management for listed companies (French Law of December 8, 2008)
- Conducting an official risk analysis for individual countries