The Company utilizes an Enterprise Risk Management (ERM) Program to identify, assess, prioritize and manage physical risks, including flooding. These risks are evaluated from a multidimensional perspective and consider probability, severity and adequacy of mitigation. The Enterprise Risk Management Committee is sponsored by the Chairman, President and CEO of the Company and includes representation from key internal business leaders. Risks are collectively identified across the organization and are classified within the Strategic, Financial, Operational, Information Technology, Legal & Compliance and Emerging Risk Categories. Each Risk Category is assigned an owner who is also a member of the Enterprise Risk Management Committee and who is ultimately accountable for successfully managing the identified risk. Risk associated with physical flooding is managed as part of the Natural Disasters - Operational Risk. The Natural Disaster ERM - addresses the physical risks associated with water and climate change that could disrupt our commercial and supply chain operations.

Project Results

Physical risks will be managed to reduce our vulnerability.