5 minute read

Legislative compliance – FY17 performance

Aleks Smits
06 September 2017

As a large business operating in a diverse sector, AGL is subject to a wide range of compliance obligations, which are comprised of compliance requirements (things we must do by law) and compliance commitments (things that we choose to do). Our compliance obligations include, but are not limited to:

  • laws and regulations
  • permits, licenses and other forms of authorisations
  • orders, rules and guidance issued by regulatory agencies
  • relevant industry codes and compulsory standards
  • judgements of courts and administrative tribunals
  • our own organisational requirements including policies and procedures, and
  • obligations arising under contractual arrangements with third parties.

We have a comprehensive compliance management framework to manage these obligations. Compliance risk management practices are embedded within our broader risk management and governance frameworks, and integrated into our business processes and operations to drive consistent, effective, and accountable decision making. In our view, this is pivotal to the ongoing and sustainable growth and success of our business.

Information about how we identify, manage and review compliance risk is available in our Compliance Management Policy. This policy is aligned with the principles and requirements of the international standard ISO 19600: 2015 Compliance Management Systems, and outlines our expectations for a compliance culture. Accordingly, the policy applies to both legislative requirements and voluntary commitments, such as compliance with our policies and procedures.

We conduct internal reporting, investigation and remediation of compliance-related complaints, breaches, and incidents through established breach reporting and complaints handling processes. This is in addition to mandatory regulatory reporting regimes that we are subject to in various jurisdictions, which require companies to report various categories of non-compliance to relevant regulators.

Our sustainability report provides the results of our legislative compliance for FY17 with key indicators. It highlights that we have had no adverse court findings in relation to Australian Consumer Law and no fines or penalties in relation to environmental licences, as well as outlining environmental incidents that have been reported to the relevant environmental authority. Also reported are outcomes relating to failing to disclose certain reportable political donations in FY16 and the status of ongoing ACCC inquiries.

For further information on AGL’s legislative compliance, see our FY17 Sustainability Report here.