Risk management
Risk management
Steady Energy’s risk management system and practices are based on the ISO 31000 standard, which is a set of international guidelines and principles that provide a systematic and structured approach to the identification, assessment, treatment, and monitoring of risks. In addition, the COSO Enterprise Risk Management (ERM) framework, which is another widely accepted risk management standard, is used as a risk management framework in Steady Energy to ensure that risk considerations are embedded into governance, strategy, and performance management processes.
Given the nature of Steady Energy's operations in the nuclear energy sector, the risk management framework is expected to align not only with general enterprise risk management principles but also with applicable nuclear industry regulations and safety requirements. These industry-specific requirements are embedded through the company's management system and supporting processes governing safety, quality, risk management and regulatory compliance.
Risk management at Steady Energy is a systematic process designed to ensure comprehensive and appropriate identification, assessment, management, and monitoring of risks and compliance obligations. The objective of risk management is to facilitate the successful execution of Steady Energy’s strategy, support sustainable operations, ensure regulatory compliance, maintain customer trust, and safeguard profitability, business continuity, and shareholder value against all identifiable risks. This includes both the monitoring and mitigation of threats and the identification and management of opportunities.
The company has set up a Risk Management Policy with the purpose to provide guidance on managing risks to support the achievement of corporate objectives, protect personnel and business assets, ensure compliance, and maintain financial sustainability. The policy applies to all activities of Steady Energy and forms part of the company’s governance framework, applicable to all employees, management, and third parties acting on behalf of the company.