KARACHI, JUN 16 (DNA) – DuPont Sustainable Solutions (DSS) and Engro Corporation Limited have finalized a partnership agreement to introduce a risk-based framework, programme, and methodology that will allow for consistent, sustained management of risk exposure across all group companies.
Engro Corporation is a highly diverse conglomerate, with businesses active across four verticals, including energy & related infrastructure, food & agri-solutions, petrochemicals, and telecommunication infrastructure.
The risk profiles and associated critical controls across these business units vary widely, therefore the conglomerate is investing in creation of a tailored, comprehensive risk-based improvement programme that will enable Engro Corporation, and each of its group companies, to better define their individual risks, identify relevant control measures, ensure integrity and functionality of the control measures, monitor effectiveness, and improve risk-based decision making.
This will be achieved by first creating a customised risk profiling tool that will provide a dynamic view of all relevant risks, including Major Accident Hazards (MAH), control measures, and meaningful KPIs to drive effective risk management.
Concurrently, an assessment of corporate capabilities and management practices will be conducted to provide further insight on opportunities to improve corporate processes and effectiveness of interactions with individual entities.
DSS and Engro Corporation will use these insights to create a pilot programme across several sites, which will then be followed by a group-wide implementation plan that will allow the conglomerate to sustain improvements.
“In partnership with DuPont Sustainable Solutions, we are adding risk-based HSE management as a new dimension to our existing Health, Safety, and Environment Management Systems to make them even more robust.
By enabling proactive identification of risks and control measures, we feel our group companies will be better equipped to effectively prevent or mitigate potential adverse outcomes. In doing so, we aim to ultimately improve the performance of our operations.” says Ghias Khan, President & Chief Executive Officer of Engro Corporation.
“This programme will allow Engro Corporation to have a more accurate view of the risks inherent in each of its businesses and identify the best means through which these risks may be controlled,” says Johan van der Westhuyzen, Managing Director of DuPont Sustainable Solutions, Middle East and Africa.
“It is not easy for conglomerates to make systemic improvements to risk management but, through this programme, Engro will certainly be able to do so.
They will also be well-prepared for any future risks as they emerge – something the COVID-19 pandemic has shown us is critical for success.” = DNA
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