Risk Management and Resilience

Whirlpool, with oversight from our Board of Directors, proactively manages potential risks across the organization and aids in alignment with our core values. This includes a focus on strategy and the most significant risks facing Whirlpool, including climate and water risk. The Board also receives risk management updates in connection with its general oversight and approval of significant matters. This has resulted in a strong track record of successfully managing and mitigating risk.

Our risk management, internal audit and compliance teams serve as the primary monitoring and testing functions for company-wide policies and procedures. This team is also responsible for managing the day-to-day oversight of the risk management strategy for Whirlpool Corporation, including:

Enterprise Risk:
Part of our strategy to deliver long-term value to our consumers and shareholders is our strong oversight and risk management approach. Our enterprise risk management (ERM) process involves systemic risk identification and mitigation, covering enterprise, strategic, financial, non-financial, operational, compliance and reporting risks. The Board of Directors oversees the ERM process and reviews a comprehensive enterprise risk assessment and prioritization process each year.

Climate Risk Management:
Climate change poses a risk to all businesses and communities. A changing climate and its impacts create risk throughout our operational footprint, from more frequent and severe fires, to earthquakes, floods, or other natural disasters. Risks are discussed further in our TCFD Index, which can be found in the Appendix of our latest Sustainability Report. Our Board of Directors oversees ESG strategy and initiatives, while the Risk Management and Sustainability functions assess climate risks and opportunities. Our Sustainability team collaborates across internal functions to monitor environmental metrics and track progress towards achieving our science-based emissions reduction goals.