4.1. Environmental impact management, 4.1.2. Identification and management of ESG risks, including climate-related risks, Environmental responsibility
4.1.2. Identification and management of ESG risks, including climate-related risks
[GRI 201-2] [ESRS SBM-3]
A comprehensive assessment of ESG risks, including those related to climate, was first carried out in 2023, in cooperation with an external consulting firm. As part of the double materiality analysis, consistent with the Corporate Sustainability Reporting Directive (CSRD) and further described in Section 8.1., ESG risks, including those related to climate, were identified.
Risks were identified through the following processes:
- analysis of Budimex Group’s documentation, and specialized and industry reports,
- diagnostic workshop with internal stakeholders,
- expert workshop with external stakeholders,
- analysis of the finished risk library and the results of the company’s 2021-2022 analysis of climate-related risks,
- industry benchmark for ESG reporting on risks,
- specialized consultations inside the consulting agency’s team.
As a result of the analysis, individual risks were assigned a probability of materialization according to a four-point scale:
- high,
- medium,
- low,
- very low,
and one of four levels of severity/impact:
- very serious,
- serious,
- moderate,
- minor.
A total of 37 risks presented in table below were subjected to the process.
Table: ESG risks
The matrix of the results of the analysis conducted is as follows:
Figure: ESG risk matrix
The risks that the consulting agency recommended for management and monitoring are summarized in table below.
Table: Key ESG risks
