Risk Management

In order to enhance business growth, resilience and satisfaction of all its stakeholders, Ethanol Company Limited has an integrated Enterprise Risk Management System, some components of which are certified based on ISO 9001:2015 (Quality), ISO 14001:2015 (Environmental), ISO 45001:2018 (Occupational Health and Safety) standards.

Risk Management Policy

Ethanol Company Limited (EthCo) produces Extra Neutral Alcohol (96.0%), Anhydrous Alcohol (99.5%) and Rectified Alcohol (96.0%) from fermenting and distilling cane molasses. The products are used as raw material for liquor manufacturing and methylated spirit production, a blend for petrol in the energy sector and as a solvent for the industrial alcohol manufacturing sector.  We believe that the right staff is our most important asset and that all other stakeholders are important players in our business. As such, this policy provides guidelines for an effective Enterprise Risk Management (ERM) system to enable business continuity, sustainability, profitability, compliance, continual improvement, efficient operations and stakeholder satisfaction. To achieve this, we are committed to the following key principles:

  • Protecting the environment through pollution prevention, sustainable use of resources, protection of biodiversity and ecosystem, and climate change mitigation and adaptation;
  • Implementing an Occupational Safety and Health (OSH) management system in all our operations to eliminate hazards and reduce OSH risks;
  • Providing leadership and resources for implementation and continual improvement of the ERM system to effectively manage both the upside risks (opportunities) and downside risks (threats) in line with the our 2019 – 2023 Strategic Plan;
  • Ensuring that our operations, processes, products and services provided comply with customer and consumer safety requirements, company requirements, applicable legal and other requirements including ISO 9001:2015 (Quality), ISO 14001:2015 (Environment), ISO 45001:2018 (Safety and Health),  ISO 31000:2018 (Risk Management), ISO 22301:2012 (Business Continuity), ISO 26000:2010 (Sustainability), GRI Standards and Sustainable Development Goals (SDGs);
  • Ensuring that we have the right people in right places and that they are skilled, competent, experienced and trained to effectively perform their tasks and roles;
  • Enhancing effective communication, consultation and participation of employees through a robust idea management system and meetings, and that all external stakeholders are properly and effectively engaged;
  • Clearly defining, reviewing and communicating our goals, objectives and targets and ensuring that our business practices are geared towards achieving them, while celebrating performance in line with our performance management policies;
  • Integrating new systems and processes into the existing management system in order to use resources effectively and efficiently;
  • Reviewing this policy, the company’s strategy and associated documents annually and when the need arises to ensure their adequacy, accuracy, effectiveness and alignment with prevailing business environment;Promoting mutual coexistence and solidarity with our stakeholders in the wider Dwangwa Estate and all areas we operate

EthCo implements a companywide Enterprise Risk Management System which ensures that all business risks are identified and effectively managed. Using a Board approved Risk Appetite Framework maintains an updated business risk profile and ensures that respective strategies and business plans are in place in order to achieve set out strategic goals. Management ensures that the company’s strategic plan is always consistent with the business environment in order to foster growth, sustainability and profitability.

EthCo is committed in ensuring that all operations are done in a safe manner and that best practices are effectively implemented to prevent accidents and occupational related illnesses. The Company’s effort is focused on the achievement of zero work related lost time injuries, zero occupational illnesses and fatalities. While recognising all the stages of risk control and focusing on elimination and reduction of hazards, all the relevant administrative and engineering controls are also in place to reduce identified risks. All employees and other stakeholders are made aware of the potential hazards within EthCo’s premises and are provided with the necessary personal protective equipment to access all work areas where these hazards exist. Besides following the local Occupational Health and Safety Welfare Act (1997) and some internal best practices, the company migrated to ISO 45001:2018 standard and it is being implemented in all operations to effectively manage OSH risks and hazards.

In line with the core value of being responsible, EthCo is committed to ensuring that all operations are conducted in a manner that safeguards the environment. The Company’s waste management program complies with applicable legal and regulatory requirements. We ensure maintenance of a good waste water drainage system, provide secondary containment for our storage tanks and other hazardous liquid containers, and dispose of our distillery effluent into properly constructed evaporation ponds to prevent seepage and overflow. The ground water surrounding these ponds is routinely monitored to ensure compliance. The efficient design of our production plant enables optimisation of our processes to effectively reduce energy consumption, maximise heat recovery and usage of clean energy. Wherever we can, we are able to recycle wastes into valuable products. These and other efforts have resulted into the Company complying with the requirements of the ISO 14001:2015 standard and the local Environmental Management Act (2017).

With the ultimate goal to produce and supply reference-quality and safe alcohol and allied products, we have set different targets and requirements in all areas of our operations. Our quality and food safety management system enables us to track all processes, identify non-conformities, opportunities for improvements adequately and timely address them. We ensure integrity, transparency and accountability for the outcome of all our dealings and that we continually improve these processes in line with ISO 9001:2015, ISO 22000:2005 requirements and MS 573 (local Ethanol Specifications).

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