Risk reporting aims at transparent, consistent, and comprehensive communication of risk status in different areas. As a result of risk reporting, company’s risk profile can be compared with the defined risk appetite and it can be concluded, whether additional risk treatment actions are needed.
Communication regarding the most important risk issues takes place along the strategic planning and performance management cycle.
Formal risk reporting is directed to Business Unit and Common Function management teams, Neste Executive Committee, Audit Committee, and the Board of Directors. The Corporate risk management team is responsible for aggregating risk information for reporting to different internal and external audiences.