RESPONSIBLE BUSINESS MANAGEMENT
ANZ has developed leading practice corporate governance structures where corporate responsibility is integrated into the way we manage our business. Our organisational and strategic approach is reflected in our governance structures, charters, codes of conduct, policies and approach to remuneration and rewards.
The ANZ Board's Governance Committee reviews ANZ's corporate responsibility strategy and programs. Ian Macfarlane was named Chair of the Governance Committee following David Gonski's resignation as a Director of ANZ in May this year.
The Governance Committee's corporate responsibility focus in 2007 has included the review of ANZ's policies, practices and management systems against the OECD Guidelines for Multinational Enterprises.
Following considerable work by management to address the issues identified in the review, the Board announced its support for the Guidelines as a framework for our Group-wide approach to human rights and responsible business management.
The Board has endorsed ANZ's Corporate Responsibility Charters setting specific commitments and targets across all stakeholders. The Board has also supported the establishment of an Executive Corporate Responsibility Council, which, with the CEO and Management Board members, provides strategic leadership and performs an oversight and advisory role in achieving the Group's CR agenda and priorities.
Members are responsible for agreeing on our public targets, integrating policies and management systems, and delivering results in their business.
This year, our Chief Financial Officer, Peter Marriott, was appointed Chair of the Council. Peter's priorities are to ensure we strengthen our leadership positions and anticipate and respond to emerging CR risks and opportunities, particularly as we build our business beyond our core markets of Australia and New Zealand.
DEVELOPING OUR APPROACH
ANZ's Corporate Responsibility Charters guide our approach and are supported by specific policies and initiatives. We continue to review and develop the charters to reflect what our stakeholders, including our employees and customers, consider should be distinctive to ANZ's approach and their expectations of a leading financial services company.
We conducted extensive internal and external engagement to develop a People Charter for ANZ and to review the commitments in our Environment Charter.
Other significant policy developments in 2007 included:
- The release of ANZ's Reconciliation Action Plan, the first of any major corporate in Australia. This plan aims to assist Indigenous inclusion through employment, financial literacy, cultural recognition and awareness, and capacity building. It includes the most significant Indigenous employment targets of any major Australian company.
- The release of ANZ's Disability Action plan. This plan sets out the steps we will take to ensure our workplace welcomes and supports people with a disability and that our products and services are inclusive and accessible to everyone.
- The review of ANZ's Global Anti-Bribery Policy to align it with Australian and overseas requirements. This Policy prohibits the involvement of ANZ staff globally in bribery and will be implemented throughout 2008.
- A Group-wide project to implement the new Australian Anti-Money Laundering and Counter-Terrorism Financing Act. A new Correspondent Banking Due Diligence Policy was implemented during 2007 and an updated Group Anti-Money Laundering Policy and training program has been developed.