At Linde, we have implemented systems that enable us to identify, evaluate and minimise risks in all our central business processes. Our enterprise risk management (ERM) system covers financial, environmental and social risks. These also include safety, HR, legal and regulatory risk factors, along with risks resulting from political or social upheaval, pandemics and climate change. In 2011, we defined our risk categories relating to human rights and social issues more clearly.
We use our SHEQ management systems to monitor compliance with standards in the areas of safety, environmental protection and occupational health, setting up preventative measures and emergency plans as required. During the year under review, we conducted another survey to assess labour and social standards across all regions. We also expanded our global compliance programme to ensure adherence to legal regulations.
Our risk management measures are closely aligned with the individual processes in the various lines of business. We routinely involve business partners and neighbours in our risk analyses. We also embed the need for compliance with safety, environmental and social standards into our supply chain, for instance. Maintaining continuous dialogue with our stakeholders enables us to identify new issues at an early stage and assess their relevance for our business activities.