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Integrated Annual Report 2018-19

Regulatory Risks and Compliance

Frequent amendment of statutory rules Government policy change which could
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and regulations impact the Company’s operation
Mitigation Mitigation
• Deployment of comprehensive digital-enabled compliance • Continuous dialogue with regulatory authorities for greater clarity
framework for monitoring compliances • Advocacy meetings with governments and ministries, seminars, Integrated Report
• Periodic review of compliances at leadership forums membership in regulatory affairs bodies, membership in
industry bodies

Reputational Risks

Failure to ensure Containment of Safety Hazards - Employee Safety (Behaviour issues), Workplace Safety
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(Fire Safety, Asset Integrity), Process Safety & Product Safety Hazard Chemicals – Transportation
Mitigation • Various safety improvement initiatives Unsafe conditions and hazards are
• Safety is periodically reviewed by covering behavioural safety, structural reported in an e-enabled portal
the CSR, Safety and Sustainability and equipment safety and process safety • For product safety and transportation of
Committee as well as Risk Management management and benchmarking with hazardous chemicals, we have installed
Committee of the Board companies that are best in the business GPS system in bromine tanker. We
• TCL’s Corporate Safety Health and are in place and are continuously support our customers by doing safety
Environment Policy is the overarching evaluated for effectiveness audits in their premises for handling of
policy, with the subsidiaries aligning • Hazards are identified using techniques chlorine Statutory Reports
it to the local regulatory and safety such as Hazard and Operability Study
directorates (HAZOP), Hazard Identification and Risk
• We are driven by voluntary standards Analysis (HIRA), What-if-Analysis, Failure
such as OHSAS 18001, Responsible Care Mode Effect Analysis and addressed
and the British Safety Council guidelines by following hierarchy of risk control.
Risk Mapping

High 5B
1

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Impact 5A 4 9 Financial Statements

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3

Low 6
Probability
Low High
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