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UPL is committed to consistent performance across all economic parameters. With powerful steps we aim to enhance farm viability and improve the economic prosperity of farmers, distributors, retailers and partners across the globe, increasing shareholder value.
Risk management is an essential aspect of UPL’s strategy and decision-making process. We identify assess and mitigate potential risks that could impact the achievement of our objectives. It helps us safeguard our assets, reputation, and financial stability. Effective risk management enables UPL to make informed and confident choices, anticipate potential challenges and seize growth opportunities. It also ensures compliance with regulations and enhances our stakeholder confidence.
Given the inherent risks in the agrochemicals industry, UPL recognizes the crucial need for effective risk management as a core component of our strategy. As a global organization, we have identified a wide array of risks and implemented appropriate mitigation measures to ensure the seamless execution of our strategy. By doing so, we enhance our capacity to generate sustainable value for our stakeholders, while aligning with our vision to collaboratively build a resilient and sustainable global food system.
We at UPL have established a robust and integrated risk management system to consistently evaluate, assess, and monitor significant risks associated with our business activities. Our risk management process is aligned with our strategic objectives, considers emerging megatrends, incorporates input from internal and external stakeholders, and includes industry-specific analysis. This system adheres to internationally recognized risk management standards, such as ISO (International Organization for Standardization) and COSO (Committee of Sponsoring Organizations of the Treadway Commission).
UPL identifies risks including emerging risks in various categories, such as strategic, external, and preventable risks. It also monitors the health of risks in a proactive manner that provide early warning indicators to the relevant stakeholders. We take cognizance of risks faced by our key stakeholders and their cumulative impact while framing our risk responses. The Risk Register is revisited periodically to ensure that the risks remain relevant at any point in time and corresponding mitigation measures are effective. This provides a proactive and value adding review process which enables maintaining the risk profile at an acceptable level in a rapidly changing environment. UPL operates in a dynamic sector, thus it has a formal documented way of identifying, assessing, and reviewing emerging risks. It uses horizon scanning for early detection of emerging risk such as the implications of the recent geopolitical crisis and its effects associated therewith on UPL.
Climatic Conditions/ Climate Change
Strong presence in key agricultural markets of Asia, Africa, Latin America, Europe, and North America helps in reducing dependence on a particular country/region
Efficient and agile supply chain capabilities enabling requisite and timely adjustments to product supplies depending on weather conditions
Changes in market dynamics
Please refer our Annual Report to further understand UPL’s Risk Management Process and to know more about other Emerging Risks :UPL Annual Report 2022-23 (https://www.upl-ltd.com)
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UPL therefore, does not accept any responsibility or liability on the nature, standard or the accuracy of the translation and cannot take responsibility for any type of inaccurate contextual meaning in the event of a mismatch from English to a regional language.”