risks under possible scenarios in order to prepare and put in to place proactive mitigation plans. The Company keeps track of changes in key external factors, trends, and emerging risk factors through an Early Warning System (EWS), which can be classified into six areas according to the PESTEL Analysis Framework, to ensure effective and proper risk management and mitigation measures. RISK MANAGEMENT CULTURE GC strives to foster an organization-wide culture of risk management and the integrated GRC management (Governance, Risk Management & Internal Control and Compliance) to ensure the Company’s stable and sustainable growth through six components: Governance, Leadership, Risk management structure, Risk management techniques, Communication, and Risk management knowledge and understanding building. GC oversees risk management by defining policy, objectives, risk appetite, and risk management frameworks and has a risk management structure that covers every organizational level. The Company has reviewed and defined roles, duties, and guidelines in related to the risk management area for the Board of Directors, Executives, and employees. Furthermore, result and performance of the company’s risk management performance is closely monitored and reported to Executives and the Board of Directors on a regular basis. GC also communicates risk issues and fosters an understanding of risk management through various programs regularly. In 2021, GC introduced the e-Learning covering topics of governance, risk management and internal control, and Governance, Risk management, and Compliance (GRC). Training programs such as Fundamental of Enterprise Risk Management, Integrated GRC, developing BCMS with ISO 22301 were also conducted as well as sessions led by both internal and external experts providing updates on business situations, future trends, and emerging risks for all related parties to develop their ability to identify, assess risks, and define risk management measures. Furthermore, the Company has expanded its Integrated GRC initiatives to subsidiaries to strengthen the good corporate culture according to the GRC principles. Risk Factors GC is aware of risk factors that may have significant impacts on the business operations. The company have thus analyzed both internal and external risk factors in tandem with relevant economic, social, political, technological, industrial, competition trends, and the Company’s competitiveness. Effective risk mitigation measures has been determined to minimize the impacts and help the Company to achieve business objectives according to the strategies and directions. The corporate risk factors can be categorized into three groups as follows: 78 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
RkJQdWJsaXNoZXIy ODg4NTI=