Risk Management

Effective risk management is the cornerstone of responsible growth, ensuring Crew’s sustainable development and long-term success.

The oversight of Crew’s risk management framework rests with our Board of Directors. They play a pivotal role in identifying our business’s primary risks and ensuring the implementation of appropriate systems and procedures to manage these risks effectively.

Our risk management policies empower our Management Team to diligently identify, monitor, and analyze the risks inherent in our company’s operations and establish appropriate risk limits, controls, and procedures to mitigate potential impacts.

Our Board and Management Team take a proactive stance when developing Crew’s short and long-term plans, strategies, and vision. Throughout this process, we conscientiously factor in various risks, including but not limited to commodity pricing, political uncertainty, project risks, and climate-related risks. The risk factors in our Annual Information Form serve as a detailed record of the risks carefully considered during our decision-making processes.

Our TCFD Report also reflects our commitment to climate-related risk management. This report outlines how climate-related risks may impact our activities and explains the strategies and techniques we employ within our operations to mitigate these risks.

We maintain a tiered approach to risk management that prioritizes risk prevention as the highest focus, followed by risk detection and risk mitigation. By placing utmost significance on risk prevention, we aim to address potential risks and vulnerabilities before they manifest. Our comprehensive strategy includes robust risk detection measures to identify emerging risks promptly and outlining effective risk mitigation measures to minimize their impact should they occur. By integrating risk discussions and promoting risk awareness throughout our organization, we cultivate a proactive risk prevention and mitigation culture that permeates all operations.

Risk Prevention

We employ preemptive measures and actions to identify, anticipate, and avoid or minimize potential risks before they occur. We aim to recognize potential hazards or vulnerabilities and implement preventive strategies and controls to stop or reduce the likelihood of risks materializing. We strive to address root causes, improve our systems, and implement safeguards and protocols to create a safe and secure working environment.

Risk Detection

To maintain a proactive stance towards risk management, we utilize a range of detection measures that leverage advanced analytics and real-time monitoring systems. These measures enable us to identify and evaluate potential risks within our operations, facilitating prompt corrective actions to minimize their impact. Our robust risk detection framework involves ongoing monitoring of key performance indicators, in-depth trend analysis, and regular assessments to identify deviations from normal conditions or expected outcomes.

Risk Mitigation

We implement risk mitigation strategies to reduce the severity, likelihood, and exposure to detected or anticipated risks. Our approach includes a variety of measures, such as maintaining insurance coverage on our assets, diversifying the locations of our assets, and enforcing operational safeguards. In addition, we collaborate with stakeholders and maintain strong relationships with government and regulators to gain valuable insights and perspectives on changing regulations and policies that may pose a risk to our operations and help inform our mitigation plans.

In the event of an incident, event, or occurrence, we follow a comprehensive set of protocols and procedures that are specifically designed to address and mitigate risks, protect the well-being of the public and our workforce, and minimize environmental and property damage. By strictly observing these requirements, we prioritize the swift resolution of emergencies, the safety of all stakeholders, and the preservation of the environment and valuable assets.

Collaboration

Crew works closely with industry partners to monitor and discuss risks associated with our operations. Our Vice President of Government & Stakeholder Relations remains a Board member of EPAC, which enables Crew to directly engage with various levels of government to discuss current and proposed regulatory processes, policies, and legislation.

We remain active in both the B.C. Montney Water Group and Montney Operators Group, providing ongoing support, technical knowledge sharing, and a collaborative approach to minimizing freshwater use.

Supply Chain Management

We recognize the critical importance of our supply chain and its impact on supporting our operations. We partner with our contractors and suppliers who align with our stringent environmental, health, and safety requirements and support our efforts to uphold a culture of excellence across our operations. We aim to employ local contractors whenever feasible to develop strong, mutually beneficial relationships within the communities where we operate.