Enterprise Risk Management

As an integral part of its Internal Control and Risk Management System, the Acea Group has set up an Enterprise Risk Management (ERM) framework, with a view to integrating the risk management process on an ongoing basis.
The aim of ERM is to guarantee an effective control over the entire universe of principal risks to which the Acea Group, owing to the nature of its business and the strategies adopted, is potentially exposed, ensuring that the Group’s overall exposure is duly managed in keeping with the Business Plan and Sustainability Plan objectives.
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The risk model

The Risk Model, which reflects the array of risk categories to which the Acea Group is potentially exposed, is derived from a careful analysis of both the socio-economic and business context in which the Group operates and the Business and Sustainability Plan objectives.
The Risk Model’s logic of representation provides for various risk type aggregation levels, with increasing granularity, based on the following elements:

  • Risk drivers: provides an indication regarding the risk source characteristics (exogenous, endogenous or associated with the Group’s guideline activities)
  • Risk category: this groups together the risks ascribable to a specific operating procedure/corporate activity or having as common characteristic the same external risk source
  • Risk type: this concerns the aggregation of risk scenarios, of a similar nature, based on a logic of prevalence that allows the risk event to be catalogued

The Acea Group risk model

Risk management process within the Acea Group

Enterprise Risk Management is the tool used by the Board of Directors and Management, through a structured process of analysis and management as regards the risk-opportunity factors to which the company is exposed, to enhance their ability to implement strategies and achieve business objectives via the conscious undertaking of risk.

ERM comprises the following main Risk Management phases 

Risk categories

Owing to the nature of its business, the Acea Group is potentially exposed to various categories of risk, above all competitive and regulatory risks, risks concerning natural events and climate changes, financial market risks (external risks) and operational and environmental risks specific to each business sector, Information Technology risks and Human Resources risks (internal risks).

For further information on all the risks and uncertainties to which the companies in the Acea Group are exposed, please read our  2019 Consolidated Financial Statement.

For further information on our central monitoring stations for particular risk categories, please read our  Report on corporate governance and ownership structures.