Management of human rights risks
Nornickel has a unified corporate risk management framework, which is integrated into all of the Company’s business processes and allows for risk-oriented decision-making at various levels to achieve strategic and operational goals.
Similarly to risk owners who are responsible for risk identification and assessment and risk response based on preventive and other initiatives designed to effectively hamper the materialisation of relevant risks, the Risk Management Service plays a crucial role in providing efficient methodological support to risk management.
The risk management structure offers a conceptual, regulatory and methodological framework, organisational tools and information infrastructure to manage Nornickel’s risks through an automated GRC system. A consistent and holistic risk management approach enables risk owners to identify, analyse, assess and rank risks in business units, develop and implement risk response plans, deliver on action plans to mitigate risks to an acceptable level (including mitigation in line with the Company’s risk appetite metrics), prepare risk reports, and monitor changes.
For more details on the Company’s risk management system, please see Nornickel’s 2022 Sustainability Report, Internal Control and Risk Management section.
