As a general rule, the scope of exposure is France, Belgium, Italy, the United Kingdom and all countries in which the Group is present. Where the scope of exposure is more restrictive, it is specified in the table and in the risk description.
Exposure to risk may vary according to duration. The potential impact of these risks may produce effects at very different time horizons, ranging from very short term (less than a year), to medium term (up to a few years) to very long term (up to several decades or more, given the nature of the relevant industrial activities which may span centuries).
In order to control risks, measures have been put in place. Some measures apply to all risks: internal control, commitment approval process (see section 2.1 “Risk management and control of activities”); others are specific to each risk.
Additional provisions for taking into account certain risks related to Corporate Social Responsibility are set out in chapter 3. Cross-references shall, where appropriate, be specified in the risk description.
Criticality is appreciated in view of the control actions undertaken
| Category | Risk | Criticality |
|---|---|---|
| 1. Market regulation, political and legal riskss | 1. Market regulation, political and legal riskss Risk 1A – Changes in public policies and in the regulatory framework in France and Europe, in particular the ARENH |
1. Market regulation, political and legal riskss Criticality ●●● |
Category 1B – Changes in the legal and regulatory framework for hydraulic concessions |
Risk ●● |
|
Category 1C – Changes in the legislative and regulatory framework for electricity distribution concessions |
Risk ●● |
|
Category 1D – Ethics or compliance violations. |
Risk ● |
|
Category 1E – Litigation risk |
Risk ● |
|
Category 1F – Insufficient compensation for missions of general interest |
Risk ● |
|
| 2. Financial and market risks | 2. Financial and market risks Risk 2A – Energy market risk |
2. Financial and market risks Criticality ●●● |
Category 2B – Financial markets risk |
Risk ●● |
|
Category 2C – Interest rate risk |
Risk ●● |
|
Category 2D – Access to liquidity risk |
Risk ●● |
|
Category 2E – Counterparty risk |
Risk ●● |
|
Category 2F – Foreign exchange risk |
Risk ● |
|
| 3. Group transformation and strategic risks |
3. Group transformation and strategic risks Risk 3A – Transformation capacity in the face of disruptions |
3. Group transformation and strategic risks Criticality ●● |
Category 3B – Adaptation to climate change: physical and transition risks |
Risk ●● |
|
Category 3C – Adaptation of employees’ skills |
Risk ●● |
|
Category 3D – Ability to fulfil long-term social commitments |
Risk ●● |
|
| 4. Operational performance |
4. Operational performance Risk 4A – Management of large and complex industrial projects (including EPR projects) |
4. Operational performance Criticality ●●● |
Category 4B – Operational continuity of supply chains and contractual relationships |
Risk ●● |
|
Category 4C – Endangerment of occupational health or safety violations (employees and service providers) |
Risk ●● |
|
Category 4D – Attacks against assets, including cyberattacks |
Risk ●● |
|
Category 4E – Hydraulic safety violations |
Risk ●● |
|
Category 4F – Risk of blackout |
Risk ● |
|
Category 4G – Industrial safety violations and impact on environmental assets, including biodiversity |
Risk ● |
|
| 5. Specific risks related to nuclear activities | 5. Specific risks related to nuclear activities Risk 5A – Failure to comply with the objectives in terms of operation and/or in terms of extending the operating life of nuclear power plants ( Franceand United Kingdom) |
5. Specific risks related to nuclear activities Criticality ●●● |
Category 5B – Control of radioactive waste treatment and decommissioning of nuclear facilities, and ability to meet related commitments |
Risk ●● |
|
Category 5C – Nuclear safety violations during operation resulting in nuclear civil liability |
Risk ●● |
|
Category 5D – Control of the fuel cycle |
Risk ●● |
Caption
●●● Strong criticality
●● Intermediate criticality
● Moderate criticality
