IVL has a Sustainability and Risk Management Committee (“SRMC”), a subcommittee of the Board. The Company’s SRMC reviews the Company’s performance on sustainability, assesses the risks associated with aspects on sustainable development and apprises the Board of risks with potentially significant impacts to ensure the institutionalization of robust business processes, procedures and policies. In addition, there is an effective process to evaluate and advise the Board on significant risks and uncertainties that could adversely impact sustainable and profitable growth. The Committee reports to the Board periodically on its activities and evaluates its performance on an annual basis by reference to its charter and current best practices. Respective business heads who are members of the SRMC also closely monitor key business risks.
The risks pertaining to human rights risks at our work place, in supply chain are also part of the risk management. More details on human rights risks are given in other chapter of this report.
IVL management and businesses place significant importance to risks relating to climate change as the same is inevitable and is going to have potentially serious implications for businesses. Post-COP21, IVL anticipates more environmental, social, political, and economic repercussions. The Company has carried out Climate Change Risk and Opportunity analyses including risks relating to water, shadow pricing analysis and its implications on business profitability. More details on climate change risks are given in Annual Report of the Company available on our website, www.indoramaventures.com.