The Risk Management Policy provides guidance regarding the management of risk to support the achievement of the corporate objectives of Energy Development Corporation. The Policy also aims to affirm the commitment of the Company to risk management.
Risk Management Policy Statement:
We, at Energy Development Corporation, commit to proactively and effectively manage risk to ensure that the Company achieves its corporate objectives. In order to fulfill our commitment, we will:
- Establish an enterprise risk management process that is aligned to international standards and best practices;
- Allocate appropriate resources to effectively manage risk;
- Ensure that the organization has the capabilities to manage risk;
- Establish a framework for setting risk management objectives and measuring risk management performance;
- Foster a robust risk culture across the organization by communicating, consulting, and cascading matters related to risk management in order to provide and obtain risk management information and to engage in risk dialogue with stakeholders, from the Board level to the lower levels of the organization;
- Continually improve the Company’s enterprise risk management program; and
- Comply with all relevant legal and regulatory requirements and other requirements related to risk management.