The directors also engage with the process of risk management through various modes, such as being a part of various committees like Risk Management Committee, CSR Committee, Compliance Committee etc. BRM process identifies risks and opportunities at the corporate as well as operational levels. The overall objective is to improve awareness of the Company’s risk exposure and manage it appropriately. Materiality reviews are conducted in conjunction with the annual business planning cycle. BRM includes assessment of social, economic and environmental risks. Our risk assessment and management policy support a sustainable business module for increased profitability. Risk management approach incorporates sustainability and provides the management with useful data to identify emerging issues. This helps us to develop new and better products and processes that protect our corporate reputation and improve shareholder value. Sustainability gives us an opportunity to look at risks in a broader rather than a traditional risk management framework, which is to look beyond economic, strategic and operational factors to social and environmental considerations. Sustainability allows corporations to consider emerging risk areas and to look for opportunities presented by risks that are overlooked by other analytical and systems-driven approaches. A more holistic point of view assures sound financial management, ethical corporate governance and transparency with respect to our stakeholders. Examples of emerging issues of concern in the sustainability area in our industry include climate change, social inclusion, depletion of non-renewable resources, brand damage (including boycotts), shareholder actions related to sustainability issues and disclosure of historic environmental liabilities. Sustainability risk management also requires the evaluation of many aspects of the entity’s operations that are not part of most current corporate programmes. Examples include energy consumption, emissions of greenhouse gases, water use, waste management, and alternative fuels and raw materials (AFR) etc. We address many aspects of sustainability, as it helps improve business efficiency and ultimately boosts profits. Efficient productivity includes reducing material requirements and energy for production, reduced emissions, improving recyclability, improving the durability and reliability of products, and maximising the use of renewable resources. Implementation of a sustainability programme starts with an understanding of corporate and regional principles and values. The fundamental values that unify our work, people and actions are derived from where the Company has been, where it is today and its quest to continue delivering value into the future. The first step towards implementation is risk/opportunities assessment, where all the possible risks/opportunities are identified and then mapped on a matrix to illustrate sustainable development issues with importance or significance to stakeholders and the Company. The next step is to prioritise the risks/opportunities and formulate action plans in the form of projects.