Subir is a newly startup and set up a factory recently in Greater Noida which is causing air pollution by releasing fly ash and discharging steam. This cumulatively caused inconvenience and discomfort to the people of th

PREPARING A RISK ANALYSIS MATRIX Preparation of Risk Analysis matrix includes the following aspects: Nature of Business It covers the nature of industry, amount of air/water/noise pollution in the process, period of its existence, background of promoters, number of subsidiaries, stakeholders involved, turnover, profit from operations, contribution to CSR activities, business acquisition history etc. Area of Operations It covers location of site operations, Degree of diversification of products, location of sites of subsidiaries etc. Identification of potential issues It covers with interaction with internal stakeholders such as employees, contractual labourers and with external stakeholders such as local community, shareholders, regulators, NGOs etc. A questionnaire may be evolved for each stakeholder for identifying the potential hidden issues. Potential issues may be: Regulatory non-compliance. Health hazard due to the operations to local community. Location of industry near agricultural land. Amount of noise. Impact of effluents on the rivers etc. Lack of disaster planning. Inadequate safety systems. Lack of sustainability initiatives. Lack of occupational or safety measures. Improper water disposal systems. Impact analysis It covers cost of regulatory non-compliance, low level of employee morale, degree of reputation risk, agitation of local community, degree of threat to long term sustainability, impact of potential issues on the financial health of the company. Suggestions and mitigation measures It covers compliance management system, proper disposal of wastes including e-waste, strong safety management systems, updated technology for manufacturing process, conservation in usage of water, energy, educating and training employees of environmental issues, frequent interaction with local community, sustainability initiatives and its reporting in the Annual Report.