Page 53 - flipbook-ubp-IR

OUR CORPORATE FINANCIAL PERFORMANCE GOVERNANCE STATEMENTS
Projections
The World Economic Forum Global Risks Report 2022 has identified the following as the top risk factors for Mauritius. Hence, we will be assessing their relevance and impact on our Group during the upcoming financial year 2023.
LENS ON LOCAL RISKS
Prolonged economic stagnation
This refers to near- zero or slow growth lasting for many years.
Collapse of a systematically important industry
This refers to the risk of collapse of
a systematically important industry or firm with an impact on the local economy, financial markets and/ or society.
Employment and livelihood crises
Structural deterioration of work prospects and/ or standards for the working- age population: unemployment, underemployment, regulatory implications.
Way forward
As part of our monitoring process, we are continuously identifying and assessing the emerging risks that could potentially impact our business. With a clear strategy in place, we are in a better position to seize the opportunities that may arise in our industry and ensure business continuity.
Extreme weather events
Loss of human life, damage to ecosystems, destruction of property and/or financial loss at a global scale as a result of extreme weather events: cold fronts, fires, floods, heat waves, windstorms etc.
Compliance and regulatory risks
Market risks
Macro- economics risks
People risks
Climatic/ Environment risks
Cybersecurity risks
UBP INTEGRATED REPORT 2022 51
Governance risks
Erosion of social cohesion
Economic, political, technological and intergenerational inequalities were already generating income disparities but have been further exacerbated with the pandemic.
Business development risks