Our commitment to sustainability
SaskEnergy has identified the following risks as most significant:
Risk management and disclosure
Government climate policy The possibility that government(s) impose new regulations that impair or restrict operations, or prevent further development of SaskEnergy’s gas system. Public acceptance The risk of customer base declines as a result of the public perception of natural gas.
Interest groups The risk to infrastructure
SaskEnergy’s approach to risk management is to thoroughly examine our operating activities, identify current and emerging risks, effectively communicate those risks throughout the organization and actively manage them through our Enterprise Risk Management (ERM) process. While risk management is the responsibility of all levels of management, the Board of Directors and Executive Committee set the tone and provide leadership for the ERM process. As many of the risks facing the organization evolve, the Corporation’s risk management plans remain adaptive and flexible. Identified risks are monitored on an ongoing basis with the Board, Executive and management. Executive risk owners are identified for each risk and they oversee, through delegation, the existing processes and controls to manage the risk, as well as any new or additional process to further address the risk. The enterprise-wide management of risks is supported by several specifically focused programs, including: · Operational risk management – the Hazard Identification and Risk Assessment process, which is an integral component of the Unified Management System, addresses risks associated with the operation of the entire gas line system. · Financial risk management – policies including committees, programs and processes that manage relevant financial risks, most notably credit risk and commodity price risk.
development and maintenance due to public objection from a cultural, safety, environmental or societal perspective. Rate adjustment approval The risk of required rate adjustments (commodity, delivery, transportation and storage) not receiving approval.
Workforce talent The risk to organizational
Cyber security The possibility of a cyber
performance related to adapting and matching the corporate skill set to an evolving environmental and business landscape.
attack against our operating or information technology systems that results in a loss of control or breach of data.
Natural gas line or facility failure
Systemic health and safety The risk of a significant incident, or a systemic health and safety incident, occurring and the subsequent impact on employee safety and the ability of employees to operate the system.
The possibility of a natural gas line or facility failure and the impact to public safety.
Full details of SaskEnergy’s Risk Management and Disclosure are included in the 2020-21 Annual Report, which is available on saskenergy.com.
2020-21 Sustainability Report
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