Nickel Asia Corporation (NAC) has launched its ‘first-of-its-kind’ risk management app that will enable the company to address the challenges and strategize plans for the continuation of its operations,
The move is in line with its goal to be the premier environmental, social, and governance (ESG) investment in the Philippines.
In a report by the Philippine Star, the risk management application called “NAC Risk Dashboard” (NARDA) is designed to assist the company in coordinating its risk management efforts. It will also serve as a digital assistant for the nine NAC subsidiaries’ risk management committees.
The app will also help identify, assess, and mitigate the risk in the company’s operations, as well as in tracking and managing incidents that may arise from these, which will benefit in plotting a business continuity plan.
Employees are permitted to use NARDA in reporting “incidents, emergencies, and crises.”
Once fully operational, it will have the ability to track natural occurrences, socio-economic trends, security alerts, political developments, and other relevant information that can assist the RMCs in creating an appropriate action plan.
The company claimed that NARDA is on its way to achieving its goal of having “Robust and Comprehensive Risk Management Systems” including data protection.
Furthermore, NARDA signifies the adoption of NAC to integrated Enterprise Risk Management (ERM) approach to effectively address the “risks and opportunities, based on responsible leadership, defined accountabilities, co-ownership, collaboration, and continuous improvement.”
NAC is hopeful that the NARDA app will become a blueprint for other mining companies in the country to become better equipped to respond to risks.
NARDA is a collaborative project between NAC Risk Management (RM) and NAC Information, Communications and Technology departments.
