· Risks and opportunities
- Connectivity of information
- Stakeholder relationships
- Strategic focus and future orientation
In Gold Fields’ strategic analysis section, the business sets out how it identifies material issues, based on its Enterprise Risk Management (ERM) process, stakeholder engagement (which is integrated into its ERM process) and the Integrated Reporting process itself.
Firstly, the company identifies and prioritizes the top ten short-term operational and strategic risks in a heat map on page 58, as identified from the ERM process. Each of these risks is then considered alongside the mitigating strategies. Further insights are given in the risk performance table on page 60, which identifies the long-term risks that may impact the company’s strategic objectives. This informative table provides the risk, related strategic objective, risk appetite, tolerance level, targets and performance from the current and previous year, with a clear indication of whether targets have been met.
Gold Fields then go on to explain how the company engages with its stakeholders to provide further context as to how the risks are identified and prioritized. Finally, the business gives a brief insight into how the Integrated Reporting process plays a role in the risk management of the business.