Our risks and opportunities

Renewing our approach to strategic risk management will enable a more inclusive, systemic and long-term approach to risk. This is aimed at creating and protecting value by managing risks, encouraging innovation and improving performance.

We are a resilient and sustainable business supported by ongoing delivery against our strategic imperatives, within our means and tolerances for risk in a highly dynamic environment.

Risk management approach

Our renewed risk approach aims to improve the integration of existing risk management practices into the strategy, structure and operating processes of 'One Imperial', as an integral function of management decision making. Enhancing our risk management processes will encompass the design, integration, implementation and improvement of risk management across all levels of the business. This will support our ability to identify, define, assess and mitigate the risks related to our current and transformational business objectives, and to realise benefits from the strategic opportunities that we have identified. Discussion of these opportunities is embedded throughout this report.

Components of integrated risk management

Risk basics

Minimising incidents and driving
operational excellence

Risk navigation

Dealing with uncertainties in new frontiers and
adopting agile strategies to deal with political,
regulatory, economic and
industry changes

Risk radar

Maintaining a clear picture
of our business threats and
delivering on our commitments

Risk windows

Broadening our horizons and risk appetite
to unlock opportunities

Responding to Covid-19

We play a critical role in the supply of essential services and products in the many countries in which we operate, and measures implemented to contain the Covid-19 pandemic have impacted our operations by varying degrees.

Our primary duty and responsibility during this humanitarian crisis is to lead and act in the best interest of all our stakeholders. First and foremost, our focus is on protecting our people, operations, clients and suppliers from Covid-19 infection, and fulfilling the critical role we play in ensuring the continued supply of the essential products and services needed to respond to this threat.

Our protective measures include strict access control procedures, temperature and health screening, hand sanitisation dispensers, PPE and stringent cleaning and disinfectant programmes for high-risk areas, including trucks used across shifts. Workplaces are continuously monitored using risk assessments and regular Covid-19 updates.

Business continuity plans, pandemic protocols and handbooks set the controls needed to prevent the spread of the virus within our buildings and warehouses, to ensure our employees and their families are kept healthy. Non-essential employees are working from home and essential employees work in shifts and in different offices to meet social distancing requirements. Where feasible, teams are split to ensure continuity in the event of an infection.

Throughout the Covid-19 pandemic, we have worked hard to maintain a sound financial position and to execute our strategy. We will continue to address the risks presented by Covid-19 while executing on our strategic imperatives to build a resilient and sustainable business with a clear purpose in a post-pandemic world.

Read more Performance review: People

Top strategic risks

Our strategic risks are closely linked to the challenges our strategy addresses, and the opportunities it presents. Read more about our strategic responses and the progress we have made in Our strategy.