The Spectra Energy Board of Directors has oversight responsibility for the company’s risk management process. As part of a uniform enterprise-wide risk analysis process, risks are identified, assessed on the probability and potential of having a significant adverse effect on our business, and prioritized. We implement risk mitigation practices to effectively address and manage identified risks, including a comprehensive approach to managing environmental and social risks throughout our project lifecycles.
At the beginning of each year, the board of directors reviews prioritized risks across four areas – financial, strategic, operational and legal. These and other risks are described in detail in the Spectra Energy 10K ‘risk factor’ section.