The Group Risk Committee has assessed the level of control of Group’s risks impact, using a four-level scale for each criterion.

Four main types of impact were considered: economic impact, impact on people, impact on the environment, and impact on reputation. The level of control was assessed by considering the following questions:

  • Are the mitigation/controlling actions defined?
  • Are the actions implemented, fully or partially?
  • Is the effectiveness of those actions monitored?

The criticality level is determined by combining the risk’s two ratings (impact and level of control) at the time of the assessment.

Criticality

Risk

Trend

Sustainable development high materiality aspects

Stakeholders

*

emerging risk – newly developing or changing risk that may have, on the long term, a significant impact which will need to be assessed in the future.

High

Security

Data security and customer privacy
Critical incident risk management

Employees
Local communities
Customers

Ethics and Compliance

Management of the legal, ethics & regulatory framework

Suppliers
Employees
Planet
Investors

Industrial safety

Critical incident risk management
Employee health and safety

Employees
Local communities

Transport accident

Critical incident risk management
Waste and hazardous material

Suppliers
Employees
Local communities

Climate transition risk*

Greenhouse gas emissions
Energy management
Sustainable business solutions
Water and wastewater

Customers
Local communities
Employees
Planet
Investors

Cyber-risk

Data security and customer privacy

Customers
Employees

Moderate

Chemical product usage

Waste and hazardous materials
Sustainable business solutions

Employees
Customers

The description of the risks relevant to Solvay and Group risk-reduction actions are listed below. The mitigation efforts described do not guarantee that risks will not materialize or impact the Group, but they show how Solvay proactively manages risk exposures.