Page 50 - flipbook-ubp-IR

Technology Risks:
Legal Risks:
INTRODUCTION ABOUT US
RISK REPORT
Risk identification
Risk identification and assessment
Risk assessment
MANAGEMENT APPROACH
Cybersecurity
The risk that important IT systems become unavailable and that data is lost or altered as a result of computer virus, cyberattacks, network and infrastructure failures, natural catastrophes or human error.
An information technology or cybersecurity incident may result in monetary loss, harm to one’s reputation, safety concerns or environmental effects.
The COVID-19 pandemic has accelerated the creation of new business practices, alternative workspaces and home offices, which expose our Group to a wider variety of vulnerabilities and raise the possibility of loss from both targeted cyberattacks/ data fraud and operational failures.
The risk that laws and rules governing business conduct, such as those that address bribery, corruption, fraud, unfair competition and illegal use of personal data, are not respected.
Costs associated with investigations, financial penalties and reputational harm are some of the effects.
Financial Risks:
Breach of data protection.
Compliance with all laws and regulations.
The risk that the Company may incur losses and be unable to meet its strategic goals if it fails to successfully identify market opportunities or carry out acquisitions, mergers or divestments.
Sustainability Risks:
There is a risk that acquisitions do not meet the expected results.
There is also an uncertainty over the achievement of the expected synergies and the integration of the new entities in our operating model, structure and governance.
Risk that we may not successfully meet societal, investor and regulatory expectations for business sustainability and environmental responsibility, including climate change and social responsibility.
Inadequate governance, environmental and social performance may lead to penalties, disputes in the areas where we operate, severe commercial interruptions, and possibly the closing of a plant. Additionally, it may affect our license to operate and limit our access to fresh resources.
48 UBP INTEGRATED REPORT 2022