Sustainability Risk Management
Salik cultivates a culture where risk management, business continuity, and resilience are integrated into its operations. This approach is reinforced by technologies with built‑in continuity capabilities and an organisational commitment to embedding risk management, response, and recovery protocols across all levels.
Salik follows a comprehensive approach to Enterprise Risk Management (ERM), business continuity management, and crisis response. The Board of Directors establishes the Company’s risk appetite, defining acceptable risk levels across all business units and types of risk.
The ERM Policy standardises processes for identifying, documenting, and communicating risks. This policy is implemented across all levels of the organisation, ensuring that risks are managed within the risk appetite defined by the Board. A dedicated management committee monitors these risks, including those related to critical vendor and third‑party relationships.
The materiality assessment and the resultant focus areas driving Salik’s ESG Strategy provide the context for Salik’s sustainability risk management. Managing these risks is an integral part of Salik’s ERM process. An aggregated view of Salik’s top risks includes key risks pertaining to these material aspects, which are reviewed by executive management and reported quarterly to the Board of Directors. The Audit Committee independently assesses these risks to maintain oversight and ensure timely interventions. Additionally, the Company conducts emerging‑risk workshops for employees and performs risk analyses for revenue diversification projects. Risks associated with toll gates are evaluated on a project‑by‑project basis.
Salik operates a “three lines of defence” model to delineate roles and responsibilities for risk management and compliance:
Business and process owners who manage risks and are responsible for implementing day‑to‑day controls
Functions that support management in monitoring risks and controls, providing expertise, guidance, and process improvements
The Internal Audit and Compliance Department, which operates independently to review the effectiveness of governance, risk management, and internal controls, assuring senior management and the Board