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Risk Management Policies

 

Taipower has established four risk management policies as guidelines for organizational risk management. They are as follows:

Risk Management Policies

01Reduce Operational Risks

Provide the necessary resources to establish, maintain and continually improve the effectiveness of the risk management system in order to reduce operational risks.

02Promote risk Management Organization

Promote risk management organization and the implementation of risk assessment, risk management, risk monitoring and risk communication.

03Shape a Riskmanaging Culture

Ensure that employees have the ability to perform risk management, create a supportive work environment, and shape a riskmanaging culture.

04Strengthen Communication

Strengthen communication between staff and stakeholders, raise staff awareness of risk management and thoroughly implement related policies.

Risk Management Process


Risk Management Process

Risk Incidents and Countermeasures

 

Taipower identified 14 potential risk incidents in 2021, and planned corresponding control measures for each risk incident based on predetermined risk conditions. Taipower also conducted continuous reviews of the effectiveness of its control measures and the changes in risks to increase the effectiveness of both prevention before incidents and of response after incidents. Taipower analyzed risks and sustainability issues through systematic risk management to enhance risk awareness, capitalized on opportunities, and achieved its vision of sustainable management.

 
Risk Category Risk Identified
Strategic and Financial Risks Strategic and Financial Risks
  • Accrual of losses resulting in greater impacts to the Company's operations
  • Failure to meet policy targets as a result of insufficient grid connection of renewable energy projects
  • Failure to complete the transformation within the legal time frame which leads to penalties imposed by the competent authority
Legal Compliance and Issue Risks Legal Compliance and Issue Risks
  • Safety or health incidents at the Company that result in casualties or losses of assets
  • Negative publicity from risk incidents that has an adverse impact on the image of the Company
  • Incidents of employee corruption
  • Outbreaks of labor-management disputes and employee protests
Operational Risks Operational Risks
  • A high turnover rate of employees or failure to develop the Company's electricity enterprise and digital transformation technologies that prevents the smooth progression of core businesses
  • Power supply shortages, affecting system stability and safety
  • Paralysis of the IT system
  • Delayed power plans, affecting the Company’s power supply capabilities
  • Progress of grid construction falling behind, affecting grid power supply
Environment and Climate Change Risks Environment and Climate Change Risks
  • Environmental impact caused by environmental incidents
  • Natural disasters, causing damage to power facilities
 
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