Vallourec has relied on the Risk Management Department to ensure the consistency and Group wide implementation of its risk management strategy.
A mapping of the risks is in place for each of Vallourec's Divisions and for the Group as a whole. Each mapping describes the main risks, their scenarios, past occurrences and the controls carried out by other companies. The risks involved may be strategic, operational, financial or regulatory or may affect the Group's image.
To support this approach, Sourcing has developed a Corporate Social Responsibility (CSR) policy, which main objective is to manage the impacts of our operations in a responsible manner.
In this context, one of Vallourec's goals is to monitor social, environmental and ethical performance through its supplier risk management process in order to increase our global performance.
Risk management process: a continuous improvement process