Environmental Risk Management 

Due to the success in the application of risk management principles across various disciplines within QR, such as occupational safety, operational safety, environment and finance disciplines, risk management of activities is recognised as a cornerstone to the continued success of the organisation.

QR has established a common Risk Policy and Risk Management standard under its Governance and Management System Framework that apply to activities that are carried out by, for, or on behalf of QR.  As QR’s risk management approach is an on-going process.  QR’s standard instructs that there is rarely any treatment, which can completely manage the risk such that no further management is required.  Even if all risks are reduced to a low level, action is still required to monitor the situation and ensure that there is no deviation from this state.

QR has produced a comprehensive Environmental Risk Report which is currently being revised to align with the risk register requirements.  QR’s environmental risks are grouped into the following two categories: 

Risk to the environment

This type of risk recognises that activities of an organisation can cause some form of environmental change or consequence.  Environmental risks in QR can relate to flora and fauna; air; land; water; noise and vibration; resource use and waste; social and cultural welfare.

Risk to an organisation (from environment-related issues)

This includes the risk of not complying with existing (or future) legislation and other criteria. These risks result in commercial consequences including business losses an organisation may suffer as a result of poor management, such as failure to secure and maintain permission for development and operational activities that may result in consequences of loss of reputation, fines and costs of litigation.

As a result, one event may lead to a number of consequences that pose both environmental and commercial risks to the organisation.