Managing sustainability risks

A comprehensive analysis of non-financial risks requires cross-functional insights from Group management, business areas and local facilities.

We focus on the future to prepare for the changing business landscape and mitigate potential risks. The global trends described in the Global megatrends that shape our business section will affect Electrolux in the coming years. Understanding and managing the non-financial risks and opportunities associated with these trends is an integral part of managing our business. Risks related to each part of the value chain are described in Impacts throughout our value chain.

A number of Group functions are involved in identifying and managing non-financial risks in their area of responsibility. These risks are regularly reported to Group management and fed into our materiality process. Read more about how Electrolux manages risk in the Annual Report 2021.

Group Internal Audit

The Group Internal Audit evaluates and improves governance, internal control and risk management processes.

Group Risk Management

Group Risk Management supports the business to identify and assess key risks in operations and critical suppliers.

Sustainability Risk Management Processes

Group Sustainability manages the following risk assessments:

• Materiality
• Responsible Sourcing
• Ethics
• Human rights
• Climate risk

Other Group Staffs & Functions

Other functions conduct risk assessments for:

• Global Industrial Operations Product Lines
• Purchasing
• Legal
• Finance
• Communication
• HR Executive Team

Group External Affairs Committee

The committee, which consists of representatives from all regions, monitors regulatory development in our markets and develops common Group positions.