We fully understand the need to continually develop effective measures to identify, analyse and ultimately mitigate risks in response to our challenging environment.
Our comprehensive risk management system encompasses all our activities. SUEK’s Board of Directors oversees the risk management processes and annually evaluates the effectiveness of these activities.
Considering the particular nature of the coal mining, energy and logistics industry, we constantly focus on risks specific to these sectors. We also realise that, as our production, sales and financial activities grow, the need for efficient management of a wider range of risks increases.
In order to ensure we are prepared to respond quickly to any adverse developments, we continuously monitor and analyse trends in key markets and related industries. We also monitor the macroeconomic environment, both in Russia and in countries that import SUEK’s products. Our risk management team gives methodological advice for decision making, planning, budgeting and performance management. We regularly assess the effectiveness of our risk management techniques through financial testing based on historical data. Risk mitigation measures imply the selection of risk reduction options in the process of decision making/doing business and its further minimisation.
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