Risk and opportunity management is embedded in our strategy and is essential for achieving our targets. Entrepreneurship is actively stimulated throughout the organization, and we encourage people to identify and seize opportunities. At the same time, we counterbalance this with clear risk boundaries, which are set for the operating companies in the various policies and agreed in the budgets.

This section provides a high-level description of our Risk & Control framework and its effectiveness, substantiating our Risk & Control statement. We discuss in turn the various elements that together make up our Risk & Control framework, and describe how we manage our company in this regard.