Risk Management is the management which protects the company from risks.Risk Management analyse all the risk be its credit risk,financial crisis risk or any of the risk.Now Infigen is an Australian company.Infigen is the developer, owner and operator of Renewable energy with interest in 24 wind farms across US and Australia. The company is one of the largest in Australia as the energy generation meets the need of more than five hundred thousand homes on Australia and at the same time it helps environment in terms of reducing the carbon dioxides approximately four million tons a year. The company is listed in Australian security exchange board.
Infigen’s current risk management policy is in line with International Standard ISO 31000 (based on AS/NZS 4360:2004), (Official Company Website) which clearly states the impact of various risks and managing the responsibilities for the risk under Infigen’s Enterprise Management Framework (FRM). The frame work has been developed with the aim of achieving the business objective that ensures appropriate response to all the potential risk.
Current framework of Infigen categorizes the potential risk under following categories.
? Safety and Environment: Since the renewable energy business is associated with energy generation, there are safety and environment standards the company has to follow to ensure adherence to the compliances.
? Strategic: Company has to ensure that to achieve its business objective, no more strategic risk are faced from within the company or from Competitors.