Corporate Responsibility

Due consideration for a organisation’s financial and non-financial (i.e. social and environmental) risks and opportunities is critical for long-term business planning and success. Directors of companies have a responsibility to ensure they are informed of sustainability matters relevant for their organisations. Directors must satisfy themselves that appropriate sustainable development policies, risk management and control systems, monitoring and review, and reporting systems are in place to effectively manage their organisation’s impact to society and the environment. Key stakeholder groups including investors, regulators and local communities continue to drive organisation performance and disclosures in non-traditional areas. Highly material issues for Australian society include industry’s ability to manage pollution and greenhouse gas emissions, access to land and appropriate use of renewable and non-renewable resources. The Australian Securities Exchange’s Corporate Governance Principles and Recommendations (7.4) recognises that “…how a listed entity conducts its business activities impacts directly on a range of stakeholders, including security holders, employees, customers, suppliers, creditors, consumers, governments and the local communities in which it operates. Whether it does so sustainably can impact in the longer term on society and the environment.”