Risk Management and Mitigation
Risk and crisis management is a fundamental pillar of our cross-functional strategy as it drives our business resilience and long-term value creation. Recognizing that risks can emerge from various sources and understanding the potential impact that poor management could have on our operations and the community, we have distributed the identification and management strategy across different areas of FibraShop.
For our assets operating within Mexico, each of them has an administrative office where both employees and individuals visiting the shopping centers can submit complaints and/or comments. These should be channeled to the Corporate Office for acknowledgment and, if necessary, decision-making.
From the corporate perspective, the Control Area is responsible for overseeing institutional risks; the Legal Area monitors risks that may arise from regulations; and the Operations Area identifies and manages risks at each property. In this regard, we have implemented environmental risk analysis in our assets and are in the process of developing a preventive program based on the analysis conducted.
The risk management strategy is based on detailed and constant monitoring, as well as the development of an annual work plan. Both results and any deviations from the plan are reported directly to the Technical Committee.
Furthermore, through the ASG Committee, we aim to provide all staff and board members with the necessary knowledge and preparation to proactively identify ASG-related risks and make informed strategic decisions. Some of the initiatives include developing an ASG training plan, promoting courses among board members, and incorporating ASG aspects into executive evaluations.
Specifically regarding risks stemming from climate change, we have conducted a physical risk analysis exercise for all of FibraShop’s assets since 2021.