Build a resilient energy risk and compliance management program
Safeguard critical infrastructure, prioritize safety and earn trust. Manage risk and keep your energy and utilities operations compliant with NAVEX One.
The main compliance challenges for energy and utilities
You’re under constant pressure in the energy and utilities sector. Strict regulations, critical infrastructure and the public counting on you means there’s no room for mistakes.
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Adapting to evolving regulations and ESG standards and disclosure requirements
Energy and utilities regulations change constantly, driven by politics, the environment and business at once.
- High-stakes enforcement – Regulators have teeth and non-compliance can result in shutdowns and significant fines
- Frequent revisions – Rapidly changing regulations can force you to scrap your ESG strategy and start over – e.g., SOX, FERC, the EU Energy Efficiency Directive
- Global inconsistencies – Regulations can vary wildly between regions, making compliance efforts a logistical nightmare
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Monitoring and preparing for the impact of disruptions and delays
No matter how careful you are, disruptions will happen. It’s how prepared you are that matters.
- Poor data visibility – Data blind spots on SCADA systems, maintenance and aging infrastructure can mean you’re vulnerable to surprise failures
- Human error – One mistake by a worker (forgetting a safety protocol, misconfiguring a system) could cause injuries or a major outage
- Geopolitical disruptions – Conflicts and trade disputes throw a wrench into supply chains, disrupting plans and the whole market
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Are real hazards and non-compliance accounted for?
You need people to speak up when they see something wrong, but energy and utilities operations bring unique challenges.
- Logistical hurdles – Your workforce is often spread out, so getting everyone on the same page about reporting incidents is tough
- Complex incident types – You need an energy compliance system that can handle everything from safety hazard identification to resolving ethical dilemmas
- Inconsistent awareness – If everyone’s not trained the same way, critical safety concerns and ethical breaches might slip through the cracks
- Slow responses – The longer it takes to act on a report, the greater the risk of outages, safety problems and angry customers
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Enforcing security throughout your supply chain
Your global suppliers and partners could be hiding risks you haven’t even thought of.
- Supply chain disruptions – Shortages, equipment delays, shipping problems… all of these could suddenly leave you unable to deliver
- Vetting complexity – Without standardized auditing and risk profiling and assessments, it’s hard to know if your partners are as serious about security and compliance as you are
- Reputational impact – If a supplier messes up, it reflects badly on you, even if you had nothing to do with it
Our top compliance resources for energy risk and compliance management
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Supply Chain Sample Policy
Download our ready-to-use supply chain sample policy template today.Learn more
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Risk Management Essentials
This eBook is your go-to resource for managing risks of all kinds, including regulatory compliance risk, third-party due diligence and risk mitigation, and internal risks.Learn more
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10 Steps to Implement a Defensible Third-Party Risk Management Program
This 10 step checklist serves as a quick and simple guide to determine where your current third-party risk management program stands today, considerations for your unique needs, and steps to take to …Learn more
Energy risk and compliance management software that can help
NAVEX One provides the tools and insights you need to navigate regulatory complexities, proactively manage risks and show that you’re committed to acting with integrity.
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IT Risk Management
Empower everyone and every process to face IT risks head on.
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Operational Risk
Mastering operational risks with NAVEX IRM means business as usual, uninterrupted.
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Simplified Vendor Risk Management
Quick to launch, quick to deliver – NAVEX IRM out-of-the-box is your express route to mastering vendor risk management.
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Ethics & Compliance Training
Educate and engage your people with online training that speaks in their language, to their experiences.
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Policy & Procedure Management
Centrally manage your entire policy and procedure lifecycle.
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Whistleblowing & Incident Management
Ensure regulatory compliance, engage your people and build trust in your reputation with NAVEX reporting and whistleblowing solutions.
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Code of Conduct
Transform your ethical code into an accessible day-to-day reference.
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Compliance Program Management
Translate DOJ guidelines into easy-to-follow steps for swift, simplified compliance program management.
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