Greatearth is exposed to risks daily, which can take many forms, and tackling them well will help it to make sound strategic business decisions, achieve key objectives as well as meet demands of good corporate governance. Recognising the importance of managing risks, Greatearth's ERM policy and framework was implemented in September 2012 to get everyone in Greatearth to establish a consistent, efficient and effective risk management practice and culture.
The ERM policy sets out the scope, principles, objectives, responsibilities, review and monitoring procedures, and communication of risk management in Greatearth, as well as supports the ERM framework, which provides a structured methodology to systematically identify, analyse, assess, treat, monitor and report risks. Together, they ensure that there is appropriate accountability and authority for managing risks effectively.
The success of risk management is dependent on one key factor – staff commitment. Therefore, everyone in Greatearth is urged and committed to work together to mitigate risks, and ERM resources are made available in our intranet for staff to familiarise and utilise them in their businesses.