Managing risk
Everyone plays a part in risk management at Air Liquide. From Operations to the Board of Directors, from each employee to the CEO, the Group has established a set of procedures to identify, manage, and mitigate risks linked to its own business as well as to the activities of its subsidiaries and suppliers.
Vigilance Plan: identifying and preventing risks
Since 2017, Air Liquide has implemented a Vigilance Plan that is designed to identify and prevent risks in three areas: human rights and fundamental freedoms, human health and safety, and the environment. The plan encompasses the activities of the Group itself but also of its subsidiaries, suppliers, and subcontractors. It is organized around five measures:
- Risk mapping;
- Procedures to regularly assess the situation of subsidiaries, suppliers, and subcontractors;
- Appropriate measures to mitigate risk and prevent serious impacts;
- An alert mechanism that collects reports of potential or actual risks;
- A monitoring scheme to follow up on the measures implemented and assess their effectiveness.
Risk Committee: steering major risks
The Risk Committee provides its expertise to entities that are required to manage financial risks within their respective scopes of responsibility. It meets twice a year under the chairmanship of the Chief Executive Officer and in the presence of the General Secretary and the Group Vice President of Strategy, and brings together the heads of the Group Control and Compliance, Legal, Finance, Communication, Safety and Industrial Systems, and Sustainable Development Departments as well as a representative from Operations. It is tasked with monitoring active risks for the Group, reporting on progress in priority measures to mitigate major risks, drawing up a risk management summary, and determining the Group’s guidelines in the area.
Air Liquide is committed to respecting human rights, protecting people and preserving the environment in its operations worldwide.
