Why is this important?
Communication and understanding are key to any successful business, but especially one as connected as ours. By continually engaging with our wide range of stakeholders we can better understand the community’s expectations, identify any problems or issues, and discover opportunities for new products and services.
What do we do?
Our approach to stakeholder engagement is set out in our Corporate Responsibility Policy, and is informed by the AA1000 Stakeholder Engagement Standard. In all interactions with stakeholders, we are committed to being respectful, responsive, open and authentic in our engagement on issues of mutual importance.
Our key stakeholders include:
- our employees and contractors
- investors (shareholders, fund managers and superannuation funds)
- industry bodies, associations, regulators and government
- the broader community including non-government organisations (NGOs) and our community partners, and
Defining material issues for our stakeholders and our business
Connecting with our many and varied stakeholders is an important part of our operations. Maintaining an open and constructive dialogue with our stakeholders helps us understand expectations and contributes to risk management, learning and innovation. It also helps identify emerging issues, as well as opportunities for creating new products and services, and improving our performance.
We interact with a diverse range of stakeholders. In Dig Deeper Report we detail our stakeholders, the ways in which we engage with them and their issues of interest. We also detail our annual materiality assessment process (our Materiality Review) along with details of the independent assurance that has been undertaken on our external Corporate Responsibility reporting.
While our Materiality Review provides us with a good understanding of the issues that currently matter to our stakeholders, it’s important we continue observing how these issues change over time. We use informal engagement activities throughout the year to inform our determination of materiality.
Our stakeholder engagement forums
Throughout the year we use a number of approaches to generate effective dialogue with our stakeholders. This also ensures our understanding of the material issues reflect current thinking.