Page 98 - Vaculug Sustainable Report 2022

OPERATIONAL RISKS
Risks related to environmental issues
The company’s activities and products are subject to various and numerous environmental laws that vary between the countries in which the Company operates. Considering the latest trend, probably these regulations would evolve in an ever more restrictive manner, as concerns in the international immunity over issues of environmental sustainability are growing significantly.
Gradual introduction of ever stricter laws with reference to various social and environmental aspects in terms of atmospheric emissions, waste generation, impacts on soil and water use, etc. is expected.
For instance, the Company monitors the evolution of related laws/regulation constantly by participating category associations and webinar’s, as well as
with support of experts in this field. This aims to study and analyze in advance, allowing investments to be made correctly where is necessary, in order
to be prepared to face the future challenges and difficulties.
Employee health and safety risks
Charges and costs for the measures necessary to ensure full compliance with the obligations foreseen in the regulations on health and safety in the workplace are incurred to the Company for its everyday acvities.
For example, after the pandemic continency, the Company has adopted hybrid working model, in order to provide best and comfortable workplace, Vaculug has decided to give a smart kit to all employees who is adequate for this working model aiming to support the employees in 360°C of view.
Specific suggestion and training were given to
advise employees the best way to organize working environment at home. Regarding activities performed in production plant, dedicated procedure is foreseen, related training is periodically carried out in order to guarantee health and safety of all employees.
Defective product risk
All Tyres produced are subjected to careful quality analysis before being placed on the market and the entire Production process is subjected to specific quality requirements and assurance procedures. For this topic, specific procedure is developed and defined for its proper management.
However, as all manufacturers of goods for sale
to the public, Vaculug could be subject to liability actions with reference to the alleged defectiveness of products sold and for instance required to take
up product campaigns.
Although recently no significant cases have been detected, the Company has a dedicated insurance coverage for this end.
LITIGATION RISKS
The Company may be involved in commercial, trade, fiscal, legal or labour law disputes in carrying out its activities. Vaculug define and assume the necessary measures to prevent, avoid and mitigate any consequences and negative impacts that may arised from such proceedings.
Risks related to information and network infrastructure
Information and Communication Technology {ICT) systems is relevant in supporting business processes evolution and development.
Analysis and assessment of ICT security were planned and initiated in order to detect any security gap and define specific corrective actions, aimed
at increasing the Company’s overall security, protecting therefore information assets and upgrading the security systems against unauthorized access and data management.
On the other hand, by improving processes and technologies used° for this end, these measures allow the Company to be prepared for future audit activities as well as to be compliant to the international standard and related regulations in this field.
SUSTAINABILITY IN MOTION 2022 98