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Risk oversight

 

The Clean Energy Regulator’s approach to risk takes into account the legislative framework, Australian Government policy, and the resources available to the organisation. Our risk appetite reflects the nature of the schemes that we administer and the criticality of events that we face.

The Commonwealth Risk Management Policy, which supports the Public Governance, Performance and Accountability Act 2013 framework, encourages officials to engage with risk in a positive and transparent way in order to achieve the Australian Government’s strategic objectives and reduce unnecessary red tape.

In regulating our schemes, we need to have regard to the Government’s intent that regulation be implemented in a streamlined manner which complements the Government’s regulatory reform agenda. In the light of this guidance, we balance the need to streamline processes with the need to be vigilant in identifying and managing material risks. In addition, we will continue to develop processes and relationships that support high levels of compliance with the schemes we administer.

The Clean Energy Regulator Risk Appetite Statement articulates the level of risk consequence the agency is willing to accept in pursuing its purpose and objectives. The statement establishes a common understanding, shared by executive and operational staff, of the links between risks and the agency’s objectives.

The Clean Energy Regulator has adopted a strong risk management culture within the organisation. This is a reflection of our level of maturity and capabilities and allows the organisation to recalibrate its risk appetite across internal and external business functions. This in turn will enable us to streamline regulatory processes across and within schemes, target resources towards areas of highest regulatory risk, reduce compliance obligations on low-risk stakeholders and achieve organisational efficiencies.

Our strategic risks are the high-level risks the agency has identified in the agency risk management framework:

  • uncertainty impedes us from achieving our purpose
  • our accountabilities are misunderstood with substantial consequences
  • we get a job that does not align with our purpose
  • we cannot free resources, or we lack critical capability, to meet changing demands.

These risks, along with operational risks, are actively managed and reviewed on a continuous basis.

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