Management of Risk

The management of Polarcus is responsible for providing a consistent risk management framework in which the risks concerning company business activities will be identified, considered and addressed in key approval, review and control processes.

Proper management of risk is the first line of defense for protecting our people, the environment, our property and our reputation from those risks of significant likelihood and consequence in the pursuit of our strategic goals and objectives.

Risk management is achieved through the identification of all foreseeable hazards, assessing them and implementing measures to control the risks and effects of the hazards.  The goal being to eliminate or reduce them to a level that is both tolerable and As Low As Reasonably Practicable (ALARP). 

Risk reduction measures will reduce the probability of an occurrence and mitigate the effects therefore reducing the consequences of the incident.