The Enterprise Risk Management (ERM) process is collaborative across Avient’s functions in order to identify Avient’s risks. Once risks are identified the likelihood of occurrence and potential impact of each risk is evaluated and assessed considering “before” and “after” mitigating activity. The prioritized risks are reviewed annually with executive management to ensure our risk identification and responses remain up-to-date, mitigation actions remain effective, and that new and emerging risks are considered. More information regarding risks is available in our Annual Report on Form 10-K.
Avient’s management presents the ERM analysis to Avient’s Board of Directors on an annual basis. Sustainability-related risks are included and evaluated as part of the ERM process, and address potential issues related to People, Products, Planet and Performance.
Brand Positioning & Market Intelligence
Business Continuity
Chain Disruptions
Climate Change Scenario Analysis Summary
Consumer Sentiment Towards Plastics
COVID-19 Response
Crisis & Incident Management
Cyber Security
Data Privacy
Environmental Social & Governance (ESG) Initiatives
Geopolitical Risks
Health & Safety
Increasing & Changing Regulation*
Innovation Effectiveness
Intellectual Property Protection & Maintenance
IT systems and Integrations
Labor Shortages
M&A Execution
Quality Systems
Raw Material Availability & Supply Chain Disruptions
Talent Attraction, Development & Retention