Our Risk Policy enables us to deal effectively with the uncertainties, contingencies and opportunities that may arise.
Enagás has established a risk management and control model aimed at ensuring the achievement of the objectives of the company in a predictable manner and with a medium-low profile for all of its risks. The model allows Enagás to adapt to the complexity of its business operations amid a globally competitive and economically complex environment.The model is based on best practices in managing corporate risks, as set out in the ISO 31000 international standard and the COSO II (Committee of Sponsoring Organizations of the Treadway Commission) international methodology framework.
Then, it is possible to maximize the profitability of the company and improve its capacity to generate value in economic, environmental and social terms, to the benefit of the shareholders and other stakeholders.
The risk management and control model is based on the following aspects:
-The consideration of some standard types of risk that the company is subject to:
- Strategic and Business.
- Operational and Technological.
- Financial and Tax-related.
- Credit and Counterparty.
- Criminal Liability.
- Compliance and Model.
-The segregation and independence of the functions of risk control and management at the company, in "three lines of defence”: business units, risk control and management area and internal audit unit.
-The existence of certain governing bodies with responsibilities in the process of risk control and management.
-Establishing a risk appetite framework, a level of risk that is considered acceptable.
-The transparency of information to guarantee its reliability and accuracy.