Annual report - HSE
Annual report - HSE
Annual report - HSE
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Risk of investment activities<br />
The key risks of the replacement Unit 6 at TEŠ are:<br />
• Risk related to acquisition of financing sources necessary for Unit 6 construction;<br />
• Risks related to investment value of the project;<br />
• Risks that the project will not be terminated in accordance with time schedule;<br />
• Risk of lack of coal or its quality;<br />
• Market risk related to the price of electricity and emission coupons; and<br />
• Risk that environmental legislation will become stricter.<br />
Risk profile<br />
sources of finance<br />
25<br />
20<br />
environmental<br />
legislation<br />
15<br />
10<br />
5<br />
0<br />
investment value<br />
coal<br />
time schedule<br />
market risk<br />
All key risks detected have been examined and their probability has been determined.<br />
The potential emerging risks have been managed with the risk analysis and its consistent<br />
monitoring.<br />
Successful risk management is supported also by the fact, that at the beginning of 2013<br />
TEŠ started to draw the EUR 440 million EIB loan and the EUR 117.5 million EBRD loan.<br />
It is estimated that the R&R risks were appropriately managed, considering the given<br />
limitations.<br />
Human resources risk<br />
The company’s activities, its intensive growth and the implementation of strategic plans<br />
require its employees to constantly improve their existing knowledge, acquire new skills<br />
and competences, and demonstrate a dynamic, multidisciplinary approach, self-initiative<br />
and the ability to work in a team.<br />
<strong>Annual</strong> Report <strong>HSE</strong> 2012<br />
2 Business Report<br />
90<br />
The risk of potential loss of key employees is considered the main human resources risk.<br />
This can only be prevented through good management and communication with/among<br />
employees, continuous professional growth and motivation, and through stimulating<br />
working conditions and environment. According to our estimates, the exposure to HR risk<br />
is low and relevant risks have been managed appropriately.<br />
Data secutiy<br />
All risks are stated in the <strong>HSE</strong> registry of risks per individual year. We have assessed risks of<br />
intangible assets, software, data bases, paper documents, locations people and services.<br />
It is estimated that the information security risks have been appropriately managed, taking<br />
into account given limitations.