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Damage and asset risks

Environmental risks

Environmental risks refer to risks relating to soil contamination, building materials and property safety.

Sponda prevents environmental risks by determining the need for soil remediation and preparing remediation plans as necessary, taking a planned approach to property maintenance and selecting tenants appropriately. Sponda’s own operations do not cause significant environmental risks.

No significant environmental risks materialised in 2013.

Property damage

Risks related to property damage refer to the possibility of damage to Sponda’s real estate or other property.

Sponda prevents property damage risks through the systematic maintenance of properties. The properties owned by Sponda are insured for their full value, as is customary in the industry. The insurance cover extends to interruptions to rental revenue.

There were no instances of significant property damage in 2013 that were not covered by insurance.    

Personnel risks

Personnel risks refer to risks relating to the actions of the company’s personnel and the risk of an external party engaging in misconduct against the company, its management or its employees.

Sponda prevents personnel risks through operating guidelines, monitoring, appropriate organisation and internal control. Sponda has insurance cover against personnel risks.  

No significant personnel risks materialised in 2013.

Liability risks

Liability risk refers to the possibility that the company is held liable to pay compensation to an external party.

Sponda prevents liability risks through appropriate organisation, operating guidelines, maintaining a high level of expertise, service descriptions and contractual provisions.

No significant liability risks materialised in 2013.