BillerudKorsnäs is affected by the general economic climate, changes in exchange rates and other risks and external factors specific to the Company. Risks that are managed well can produce positive effects,
while risks that are not managed well can have adverse consequences. BillerudKorsnäs goal is to identify, analyse and assess systematically risks that may have an impact on the Company’s set targets and to act to protect the Company against loss, uncertainty and missed opportunities.
Risk management is governed at overall level by the Board of Directors and audit committee, and at operational level by the CEO, Senior Management Team and other staff. The majority of all risks analyses are performed in the line organisations, which are also responsible for managing the risks. Significant risks are reported to the Senior Management Team, which makes decisions on action to be taken.
During 2016, BillerudKorsnäs introduced an Enterprise Risk Management (ERM) process in accordance with ISO 31 000. Work at present is focused on the greatest risks and opportunities the Company faces and on making risk management an integral part of operational planning. As part of this work, a number of risks have been identified, and activities to manage these have been initiated.
For more information about risk management, please see pages 84-91 in the 2016 Annual and Sustainability Report.