AGL's Risk Management Policy, which has been approved by AGL's Board, mandates that management utilise risk management principles in decision-making, and requires all AGL people to consider their functions and roles and how to manage risks arising from their business decisions and activities. AGL's Statement of Risk Appetite, reviewed annually by the ARMC, sets out AGL's risk appetite in relation to strategic, financial, market and operational risks, as well as AGL's risk tolerance (which in turn identifies activities for which AGL has no appetite).