Operational risks, including those related to climate change, are assessed at a Group level, and potential responses prioritised and coordinated with
relevant business segments and functions by a line-managed executive Group function, Safety & Operational Risk (S&OR), within which is a dedicated
GHG Management unit. S&OR assessments and recommendations are considered by a formal advisory committee to the Group Chief Executive (GCE),
the Group Operational Risk Committee (GORC), which is chaired by the GCE and comprised of leaders of the operational businesses and relevant
functions. GORC meets at least six times a year. Based on the assessments GORC may take action, which may be discharged by the operational
businesses and Group functions, to adjust company-wide programs accordingly including in relation to BP’s Operating Management System (OMS).
Conclusions of climate-related risk assessment processes conducted under the either the IMWG or the GORC may be escalated to the Executive Team
and, if appropriate, to the Board. Within the Board, it is the Safety, Ethics, Environment and Assurance Committee (SEEAC) is responsible for reviewingprocesses adopted by BP’s Executive management to identify and mitigate significant non-financial risk, including operational & non-operational risks
associated with climate change.
Operational risks, including those related to climate change, are assessed at a Group level, and potential responses prioritised and coordinated with
relevant business segments and functions by a line-managed executive Group function, Safety & Operational Risk (S&OR), within which is a dedicated
GHG Management unit. S&OR assessments and recommendations are considered by a formal advisory committee to the Group Chief Executive (GCE),
the Group Operational Risk Committee (GORC), which is chaired by the GCE and comprised of leaders of the operational businesses and relevant
functions. GORC meets at least six times a year. Based on the assessments GORC may take action, which may be discharged by the operational
businesses and Group functions, to adjust company-wide programs accordingly including in relation to BP’s Operating Management System (OMS).
Conclusions of climate-related risk assessment processes conducted under the either the IMWG or the GORC may be escalated to the Executive Team
and, if appropriate, to the Board. Within the Board, it is the Safety, Ethics, Environment and Assurance Committee (SEEAC) is responsible for reviewingprocesses adopted by BP’s Executive management to identify and mitigate significant non-financial risk, including operational & non-operational risks
associated with climate change.
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