Risk Management

Risk Management

Milestone’s approach to risk management is thorough and aligned with best Sustainability practices. Our Chief Executive Officer and Chief Financial Officer (CEO, CFO, or collectively, Executive Officers) offer strategic direction and have primary responsibility for managing risk. Our operations management team makes the decisions throughout our day-to-day activities that deliver valuable solutions to our customers. Through regular interaction with other management team members and subject matter experts, our Executive Officers proactively identify the existing and potential risks to our company in areas including financial, commercial, political, compliance, operational, reputational, cybersecurity, climate, and other risks that are inherent in or may affect our business.

+ ESG Materiality Analysis and Risk Assessment

Milestone’s approach to risk management was updated in 2022 to ensure it is disciplined, systematic, comprehensive, and aligned with international ESG frameworks. We conducted an ESG materiality and risk assessment exercise to ensure we did not simply identify the most material issues to our industry, but that we also clearly evaluated and ranked the risks these issues pose to our value-creation efforts. We also align all issues and risks to applicable stakeholders. As part of this exercise, we uncovered relevant business opportunities to further mitigate risks posed to the business. Identifying and prioritizing our risks and opportunities enables us to drive informed business decisions about resource allocation, align our organizational priorities, and monitor emerging issues that may shape our future risk exposure. It also facilitates the selection of the most impactful ESG metrics to measure and manage our performance. As a result of this analysis in 2022, we have identified the following ESG topics to be the most impactful to our operations:

A table showing ESG topics as the most impactful to our operations

Our ESG materiality analysis and risk assessment process includes some of the questions below to foster thorough and disciplined results:

A graphic showing the Materiality Analysis and Risk Assessment Process.