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ESR & Sustainability
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ESR & Sustainability
Disclosure
G20/ OECD Principles of Corporate Governance
In addition to their commercial objectives, companies are encouraged to disclose policies and performance relating to business ethics, the environment, and where material to the company, social issues, human rights and other public policy commitments.
Be a
'Responsible'
Owner
What it means to be a 'responsible' owner
A responsible owner conducts responsible business practices (RBP)
A voluntary, rather than mandated, social responsibility encompassing:
Marketplace and business conduct
Environmental impact and sustainability
Community welfare and social impact
Workplace practices including ethics and ethical governance.
Encompassing Themes
UN Principles of responsible investing undertake to incorporate ESG issues in their investment analysis and decision-making processes
Corporate social responsibility (CSR)
Environmental, social and governance issues (ESR)
Triple Bottom Line (TBL) Reporting
Global citizenship and stakeholder engagement.
Statutories
Statutory Obligations
Australia
Directors must exercise power under the Corporations Act 2001 (Cth) s181 (1)
A) ‘in good faith in the best interests of the corporation’
B) ‘for a proper purpose’
‘What happens when we get it wrong?
What happens when we get it right?
Case Study
Mexico Wind Farms
Getting it Right!
Preventive
Measures
Preventative Measures
A responsible owner conducts responsible business practices (RBP)
Climate Risk Example
What is the business’ exposure to coal?
How reliant are the business operations on coal power?
How could rising sea levels impact business operations and sites?
Preventative Measures
A responsible owner conducts responsible business practices (RBP)
Human rights Example
What impact does the business operations have on indigenous people?
How does the business manage its Modern Slavery Act obligations?
How does the business’ subcontractors manage their Modern Slavery Act obligations?
New Challenges
New Challenges and Market Trends
Sustainability Practice
Published Strategy/Plan
Published Sustainability Policy
Well defined and implemented sustainability governance framework
Published sustainability targets.
Annual sustainability report
Sustainability survey
Web page reflection of sustainability.
Sustainability
Refresh on the materiality assessment outcomes and maintain their relevance
The new sustainability strategy launched
Policy – discuss the separation of powers between the policy and the executive
Are relevant sustainability targets tracked by the board.
Thank you!