Governance and follow-up

All governance at Preem is intended to secure the company’s obligations to its stakeholders: owners, customers, government/agencies, employees, financiers, partners and local communities. This is a key part of Preem’s business goals and strategies. 

Preem’s management system

Senior Management bears ultimate responsibility for ensuring the governance and progress of Preem's sustainability efforts. They have a Group-wide management system at their disposal that encompasses governance at various levels of the company. These include the strategic level, which is based on the vision, strategy, policies and values, and the operational level with instructions detailing how inspections, audits and various types of work are to be performed.

Supports our entire business

The goal of the management system is to ensure that Preem’s business is conducted in a secure, reliable, appropriate and effective manner. It also makes it possible for us to meet external and internal requirements. The management system helps us incorporate our vision, our strategy and our values into everything we do. It supports our entire business by laying the foundation for high-quality decision-making processes and quick and correct performance of activities. Further, the goal of the management system is for the company to strive to continuously improve and learn throughout the organization. The Group-wide deviation management system is a key tool for this. The system is used for incident reporting, improvement efforts and prevention of undesired events.

Preem’s management system ensures focus on safety, the environment, quality, energy and other significant sustainability aspects. We have chosen to certify our management system in several of these areas to ensure that the system is secure and effective and to demonstrate this to our stakeholders. Preem’s business is certified to standards including ISO 9001 for quality, ISO 14001 for the environment, OHSAS 18001 for the work environment and safety, and ISCC for renewable fuels.

Follow up by Senior Management

Preem’s Senior Management governs and follows up its operations – including all sustainability aspects – through the quarterly Management Review forum. The agenda includes business intelligence, following up key stakeholder requirements, following up operations and managing objectives, risks and opportunities, the results of internal audits, and deviation management. These areas are used to present and prioritize areas for improvement as well.

Systematic risk management model

Preem has a systematic risk management model where risks are identified, assessed, managed and followed up according to a common model in various risk categories. Risk management takes place at all levels of the company and serves as a key part of its governance. At the operational level, we conduct daily risk analyses, such as safety rounds and continuous review of whether we are meeting our security stock obligation. At the strategic level, Senior Management employs risk analyses and participates in business and strategy planning.