CSR’s sustainability agenda is established at Board level, underlining our commitment to ensuring our businesses operate in a sustainable manner.
Our stakeholders expect CSR to be managed according to our sustainability principles which include our commitment to corporate governance.
CSR’s Corporate Governance framework has been developed using:
- CSR’s long established values and behaviour
- Corporate Governance Principles and Recommendations published by the ASX Corporate Governance Council (ASX CGC)
Full details of CSR’s Corporate Governance framework, including remuneration details, can be found in the CSR 2008 Annual Report, commencing on page 4. This report can be found on the CSR website http://www.csr.com.au/investorcentre/reports.asp.
CSR’s Board of Directors
CSR’s Board of Directors is accountable to shareholders for the operations, profit performance and growth of the company. The board strives to create shareholder value, while ensuring the company operates in a sustainable manner.
The board is currently comprised of seven non-executive directors and one executive director – the managing director. The Chairman is appointed by the board and provides leadership to ensure that a high standard of values, processes and constructive interaction are maintained.
Board Independence
Each of the non-executive directors on the CSR board is independent of the CSR and its management, having no business or other relationships that could compromise his or her autonomy as a director.
Board Committees
To increase its effectiveness, the CSR board has three committees, each with a charter approved by the board:
1. The Audit Committee
2. The Safety, Health & Environment (SH&E) Committee
3. The Remuneration and Nominations Committee
The CSR board upgraded the charter of its Safety, Health & Environment (SH&E) Committee. The amendments ensure that the Committee provides advice to the full board on CSR’s approach to sustainability, with specific regard to climate change.
Communicating with stakeholders
CSR’s commitment to high standards of corporate governance includes reporting on the company’s activities to its stakeholders.
Information is provided to shareholders and other stakeholders through:
- releases to the ASX in accordance with continuous disclosures obligations
- CSR’s website
- CSR’s annual and half-yearly reports
- the annual general meeting
The annual general meeting provides an important opportunity for shareholders to express their views to the CSR board including issues relating to sustainability and to vote on board proposals. CSR provides a live webcast of its meeting to shareholders who are unable to attend the AGM.
