Principal risks

We have set up a holistic framework of Principal Risks, in order of prioritisation.

The Board makes a robust assessment of these Principal Risks, considering future performance and our ability to deliver the strategy, including solvency and liquidity risks.

For each Principal Risk, we discuss the nature of the risk and the impact on our Group Priorities.

Each Principal Risk is overseen directly by the?Board or one of its committees, with the Board retaining overall responsibility for risk across the Group.

Our assessment of risks extends to risks associated with our investments in joint ventures and associates, including our nuclear business. The impact and likelihood of these risks are evaluated and reported using a consistent approach.

  • Find out more about our Principal Risks framework 

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“ We can’t predict the future but we can empower better business performance by having the credibility, courage and confidence to raise the issues that really matter.”?

Carolyn Clarke, Group Head of Internal Audit, Risk and Control