Management of non-financial risks

The ERM process covers the Group’s key companies. Each of these companies has its own ERM unit which cooperates with the Group’s Risk Management Department.

The principal document governing the Group’s enterprise risk management is the ENEA Group Enterprise Risk Management Policy. Furthermore, the Group’s risk management system comprises detailed procedures, policies and methodologies for managing individual risks in specific areas. Adhering to the guidelines contained in these documents guarantees that risk management will be effective. It also enables ongoing identification and assessment of risks at the level of the Group’s key companies, risk monitoring and reporting and operational management of risks by individual companies (within the limits assigned in terms of financial risks and based on the principles laid down in the documents approved by the Enea Group Risk Committee).

The key authority in the Enea Group’s risk management processes is the Risk Committee that manages:

• enterprise risks in the Enea Group,
• continuity of operations in the Enea Group,
• the area of compliance in the Enea Group,
• insurance policy in the Enea Group.

• giving recommendations to the Enea SA’s Management Board on approving the policies that govern the process of managing risks, business continuity, insurances and compliance, as well as on any relevant updates,
• accepting and analysing information in the area of risk management, business continuity and insurance received from business units,
• issuing opinions and accepting reports on the implementation of the Compliance Policy and issuing binding interpretation (construction) of the provisions of the Compliance Policy,
• approving the operating documentation that governs the process of managing risks, insurances, and business continuity as well as approval of any relevant updates (strategies, procedures, methodologies, tools, instructions, guidelines, etc.).