Key to sustained business is to rigorously monitor and efficiently manage the risks. In a highly regulated electricity markets and volatile and price-sensitive global market, Greenko with long-term investment horizons, require a risk-intelligent approach. The Board and the management committee review the risk management regularly and steer the management action.
Greenko understands the numerous opportunities for its business are accompanied with varied risks. The Group has in place a robust risk management system and a specialised department to ensure that the risk management tasks are well-implemented, and the risk mitigation plans are in place. The risk governance is led by the management and ably supported by secretarial, legal and ESG to drive the risk management mechanism in an effective manner.
Risk Management Framework
The Greenko Risk Management Framework (GRMF) which has been framed combining elements from the Committee of Sponsoring Organisations of the Treadway Commission (COSO) and Operationally Critical Threat, Asset, and Vulnerability Evaluation (OCTAVE). The Board of Directors and the audit committee at Greenko review the control systems periodically for timely identification and management of risks. The top leadership at Greenko understands the importance of GRMF as it helps them keep a track of the risks in operations and helps them to achieve business objectives.
At Greenko, the first consideration of management is that the strategy for IRESP should fall under the risk management framework; then the size, time, scale and location for IRESP is decided. The primary focus for attaining Greenko’s business objectives is on its business strategy and goals, which are split into sub-goals for several activities, including GAM, Commercial, Projects, Procurement, and other areas.