RISK AND CRISIS MANAGEMENT To be a leading sustainable chemical company, we are doing what is needed to both manage and minimize risks and enhance our business performance. Our proactive risk and crisis management framework provides assurance and supports our efforts in meeting our sustainability goals. We successfully manage potential risks supported by our group governance structure, ethics programs and codes of conduct. • Foundation for identifying and managing business risk across the Company and its subsidiaries. • Utilizing the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework and applying a top-down and bottom-up approach to identify and manage business risks at both the corporate and subsidiary levels around the world. • A sub-board committee that oversees overall risk management effectiveness in relation to the company’s strategies. • Implemented IVL’s Risk Policy Statement and introduced risk capability & culture programs. IVL’s INTERNAL RISK MANAGEMENT ENTERPRISE RISK MANAGEMENT FRAMEWORK COMMITTEES AND COUNCILS RISK CULTURE Robust Internal Risk Management In guiding the daily activities and decision-making of our employees, effective risk management gives us the confidence tomove forward in the industry andwithstand any challenge. Throughout the business themanagement, the committees and our assigned “risk champions” are responsible for assessing risks and identifying associated controls to mitigate and/or reduce risk. 62 INDORAMA VENTURES PCL. VISION - TO BE A WORLD-CLASS SUSTAINABLE CHEMICAL COMPANY MAKING GREAT PRODUCTS FOR SOCIETY. Indorama Management Council (IMC) Risk Management Council (RMC) • The highest operational management committee which oversees and acts on advice from other councils. • Acts as a central platform to assist the IMC, SRMC and the Board in identifying and addressing major risks and driving risk governance issues. Sustainability and Risk Management Committee (SRMC) FOR MORE INFORMATION Chief Strategy Officer Message Chairman of the ESG Council Message Key Achievements 2021 CEO Message IVL’s Sustainable Value Creation for Stakeholders Home
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