NowyStyl_Raport CSR_2022-2023_EN-www

Risk and opportunity analysis is part of the Inte- grated Management System. At Nowy Styl, we perform it taking into account both the context and the changing environment of the organization, as well as the needs and expectations of our stakeholders and business aspects. Aspects we identify include ethical risks, social risks, employee safety risks, environmental and climate risks, financial and data security risks, as well as other risks related to the production, transport and use of products. Risks can affect the achievement of strategic and operational objec- tives, such as potential or past risks for which the company has already taken appropriate management actions. In accordance with the implemented Risk Analysis for Processes procedure, risk management inolves identi- fying risks and describing their impact on each process, assessing risks based on adopted criteria, determining the level of risk significance, determining the risk manage- ment method, implementing appropriate safeguards and monitoring changes in risks and opportunities. With the integration of the ISO 14006:2020 standard in our environmental management system, we have expanded the existing analysis in line with thinking about our products’ entire life cycle – from design to imple- mentation, provision of raw materials and consumables, production, transport, use, decommissioning and disposal. C lick here to find out more The register of risks and opportunities is updated once a year as part of the revision of the Integrated Management System and each time significant changes affecting the processes occur. A separate process is supply chain risk analysis. Nowy Styl Global Procurement and Supply Chain Department assesses the risks associated with each existing and new supplier. C lick here to find out more 1.4 Key impacts, risks and opportunities GRI 2-23 Examples of risks identified and managed by Nowy Styl Area Risk ETHICS Absence of or unreliable communication of the company’s ethical policies Employee behaviour that is conducive to corruption Discrimination against employees such as based on gender, age, nationality, religion, sexual orientation, political views, employment, wages, benefits, promotion, discipline or termination of contract Supervisors mobbing employees Conflict of interest Misuse of company property by an employee SOCIAL Misidentification of health and safety hazards Unplanned or unforeseen situations related to work performed on the Organization’s premises by its own employees and third-party contractors posing a risk or exposure Health and safety risks related to changes in the production area Risks associated with a biological agent, i.e., illnesses, spread of infectious diseases, epidemic outbreaks, pandemic Lack of skilled workers ENVIRONMENTAL Non-compliance with environmental regulations related to multiple legal acts Improper management of chemicals Increasing costs of greenhouse gas emissions The cost of green investments Inadequate supervision of waste management Water shortage due to droughts Shortage and high prices of green energy on the market Development of technology without consideration of energy efficiency and adequate material efficiency 18 Table of contents