Our Board with the assistance of its committees oversees sustainability matters, while day to day accountability rests with management teams. Sustainability issues are a key focus for the board and regularly discussed at its meetings.
The Risk and Sustainability Committee has oversight of the Company’s environmental, social and governance (ESG) responsibilities and reporting, including reviewing and recommending to the Board the Company’s annual Corporate Governance Statement and Sustainability Report.
BlueScope’s vision and strategy for health, safety and environment are guided by the Board Health, Safety and Environment (HSE) Committee. Each member of the Board is a member of this Committee, which meets quarterly. The HSE Committee reviews and recommends actions to the Board with respect to policy, plans, performance against targets, risks and emerging issues.
The Board has ultimate responsibility for BlueScope’s consideration of climate related risks and opportunities, through the support of the HSE and Risk and Sustainability Committees.
In addition to the four Committees shown, the Nominations Committee has responsibility for Board Renewal and succession planning, and ensures the Board and its Committees have the skills, experience and diversity to discharge the Board’s duties.
The Executive Leadership Team (ELT) consists of the most senior executives in the Company responsible for providing leadership and shaping the Company’s strategic direction, developing governance systems and specifying the desired operating approach and culture.
The key sustainability and climate change functions and responsibilities of the ELT are: reviewing Company strategy and strategic plans, promoting robust structures and procedures for governance and legal compliance, reviewing allocation of resources (capital and human) including budgets and business plans, and reviewing sustainability/environment strategy and governance processes and procedures for the Company as a whole (including those relating to reporting and monitoring performance).
The Vice President Health, Safety and Environment and Vice President Sustainability collaborate to provide the ELT, the relevant Board Committees and the Sustainability Council regular updates on the management of climate change as it affects BlueScope’s business.
BlueScope’s Sustainability Council meets at least monthly, and is comprised of members of our ELT and senior management. The Sustainability Council is responsible for understanding our sustainability exposures, engaging with key stakeholders and directing the consistent implementation of sustainability initiatives across our global businesses. The Sustainability Council reports quarterly to the Board through the Risk and Sustainability Committee.
More information on Corporate Governance can be found here.