• The capitals

Key observations:

In the “Governance and Risk Management” section (pp. 27-32) the Report identifies the three main categories of risks that are considered to be relevant to the organization’s business, namely “macroeconomic risks”, “legal and regulatory risks”, and “risks associated with our business”. For each category more specific risks are then concisely illustrated through narrative, especially the implications that can arise from their presence. Furthermore, icons for each of the capitals (previously described), evidence the linkages to the risks, thus providing insights into the ways in which “key risks […] that relate to the organization’s effects on, and the continued availability, quality and affordability of, relevant capitals in the short, medium and long term” (International <IR> Framework, para. 4.24).