The Kuwait Petroleum Corporation (KPC) has announced getting the ISO 31000-2018 certificate in risk management, to be the first institution in the Middle East that obtains this prestigious certificate.

In a press release issued Monday, the state-owned corporation said it was keen on employing a comprehensive risk management system since 2006.

To achieve this objective, the corporation, in collaboration with specialized agencies, worked out new comprehensive risk management policy and framework and applied them in all subsidiaries, it revealed.

The KPC pointed out that has also upgraded its risk management policies to help it in taking strategic decisions.

ISO 31000 is a family of standards relating to risk management codified by the International Organization for Standardization. It provides principles and generic guidelines on managing risks faced by organizations.

Source: Kuwait News Agency