Risk management is essential to protecting, enhancing and creating shareholder value, operating efficiently and providing a safe and healthy environment for employees, customers and other stakeholders.
Our identification and assessment of risk is based on the Chartered Professional Accountants of Canada’s Framework for Board Oversight of Enterprise Risk. The risk assessment covers internal and external trends impacting our business. Our approach covers four broad categories of risk: strategic, operational, reporting and external. When conducting our assessment, we believe it is important to take a precautionary approach when considering the likelihood and severity of possible impacts from environmental and social risks.
Our Business Continuity Management plan enables us to protect against, and recover from, incidents and restore operations in a timely manner while ensuring the health and safety of employees, communities, and the general public.
Ensuring CN has an effective approach to identifying, understanding and managing risks is critical to running a safe and efficient railroad. At CN, the Board is entrusted with the responsibility for identifying and overseeing the significant risks to which CN’s business is exposed and ensuring there are processes in place to effectively identify, monitor and manage them.
Donald J. Carty
Chair of the Audit Committee
Member of the Board of Directors