Effective and ethical leadership

ETHICS

The group has an ethics policy and a code of conduct which guides its business practices. The ethics policy seeks to reinforce the company's many policies, principles and practices through providing clarity on expectations and underlying matters of principle.

The key aspects of the ethics policy are how business is conducted, the group's societal contribution and handling of people, the need for employees to speak out about wrongdoings, conflicts of interest, the legitimate interests of the business, application of law, policies and procedures, corporate governance matters and individual accountability.

The code of conduct provides guidance on matters such as conflicts of interests, acceptance and giving of donations and gifts, compliance with laws and the dissemination of confidential information.

The board has ultimate responsibility for the ethical culture of the business. The social and ethics committee has oversight over the group's ethical matters and the roles and responsibilities are set out in the terms of reference of the committee. All senior employees are required to sign an annual declaration confirming no conflicts of interest and compliance with laws and regulations. Board members are required to disclose conflicts of interest at each meeting. Ethics training is included in the group's induction programme.

The group has an independent whistle-blower line and all reported matters are investigated by appropriate employees and the results reported to the audit and risk committee. Unethical behaviour is not tolerated within the group or its business partners and all criminal behaviour is reported to the police. There was one incident of bribery or corruption during the financial year which was reported.

RESPONSIBLE CORPORATE CITIZENSHIP

The social and ethics committee has oversight over the group's social matters and the roles and responsibilities are set out in the terms of reference of the committee.

The key areas of focus are social and economic development of the industry, state and partners, corporate citizenship within the community, the natural environment and relationships with customers and employees.

Refer to the deliver to our beneficiaries section on pages 45 to 53, the product relevance to customer experience section on pages 55 to 58, the regulatory compliance section on page 59 and the human resources section on pages 60 to 62 for information as to how the group manages its social outcomes.

VALUE CREATION AND REPORTING

Our approach and philosophy of integrated reporting and assurance over the report is documented in about this report on page 1.

Our report is purposefully structured around the strategy of the group in order to illustrate how we create value. Our material risks and opportunities on pages 27 to 29 and key relationships on pages 30 to 32 inform the strategy which is documented in our strategy in action on pages 45 to 69. Our strategy and performance highlights against the strategy are summarised on pages 06 to 08 and our business model on pages 10 to 25 provide the context and link between the capitals we utilise and the outcomes linked to our strategic priorities.

All information presented in the report is utilised within the business and there are processes in place to ensure its accuracy. Although elements of the report are assured internally and other information is provided by external sources assurance is an area that requires further formalisation.