Group Management Report Products Safety and Health Environment Human Resources Social Commitment Consolidated Financial Statements 77
Expected Development in the Area of Occupational
Safety and the Environment
Based on the long-term positive development in the area of
occupational safety in the past fiscal years, we set ourselves
the following targets for 2021 for the three accident indicators:
WAI 1: 2.5; WAI 2: 1.7; and WAI 3: 30.
ALTANA is aiming for a target value of 1.24 MWh / t for
the specific energy parameter for 2021, following a value
of 1.28 MWh / t in the previous fiscal year. In the following
years, further reductions of specific energy consumption
in the ballpark of 2 % per year are planned.
Risks
Management and control of the ALTANA Group are geared
to the strategy that has been defined and the target levels
derived from it. Due to changes in the economic environment
or internal and external factors of influence, it might not
be possible to implement the strategy successfully or to achieve
targets in the planned time frame or to the planned extent.
To be optimally prepared for such situations, ALTANA systematically
identifies, evaluates, and considers risks within the
framework of decision-making processes.
To anchor our risk policy at all decision-making levels, we
established a Group-wide risk management system that
brings together various information, communications, and
monitoring systems. Core elements of our risk management
include strategic corporate planning, internal reporting,
our internal control system, compliance organization, and
risk management in the strict sense.
Our strategic corporate planning is closely tied to our
medium- to long-term financial planning. The extent of the
fulfillment of our targets is examined in monthly reports
on the company’s business performance and in our short-term
financial planning. Apart from an analysis of the current
business situation, in these reports and our planning, our expectations
for the current fiscal year are discussed exten-
sively at the level of the divisions on a regular basis. As a result,
deviations from planned developments can be recognized
and countermeasures introduced if necessary.
Our internal control system defines organizational and
procedural requirements that serve to prevent damage to
the company, among other things. In connection with our
established compliance organization, it aims to prevent
possible violations of guidelines and laws on the part of employees.
At ALTANA, risk management in the strict sense is viewed
as the systematic compilation, evaluation, documentation,
communication, and, if not already in place, derivation of
measures regarding the relevant risks. Thus it is an essential
component of the company’s system for early risk recognition
in accordance with section 91 (2) of the German Stock
Corporation Act. This system was voluntarily examined by the
auditor. The audit deemed the system capable of recogniz-
ing risks that can endanger the existence of the company at
an early stage.
Risks that are identified are evaluated in a uniform way.
So-called evaluated risks are assessed based on the probability
of their occurring and the potential damages. Individual
risks can be rated based on this assessment. Risks rated as
very high are risks which could cost the company € 25 million
or more in the next twelve months. Individual risks that
could cost the company between € 12 million and € 25 million
are rated as high risks; risks that would cost between
€ 5 million and € 12 million are categorized as medium risks,
and risks that would cost less than € 5 million are deemed
low risks. The prioritization resulting from the assessment
determines focal points for the development and initiation
of countermeasures to prevent or reduce the potential effects
of risks.