Qantas Airways Ltd

Lobbying Governance

AI Extracted Evidence Snippet Source

The Qantas Board of Directors (the Board) is responsible for overseeing that Qantas has an appropriate corporate governance framework to enable the creation, protection and enhancement of shareholder value. Key to this are responsible, ethical and sustainable business practices. The Board oversees the adequacy and effectiveness of the management of sustainability risks and opportunities. Throughout FY24, it was assisted by four Board committees, each of which considered different aspects of sustainability: — Safety, Health, Environment and Security Committee (CHESS): responsibilities include oversight of the Qantas Group's operational risks (safety, health, environment, security and business resilience) — Audit Committee: responsibilities include oversight of enterprise-wide risk management which includes sustainability risks (other than those which fall under CHESS), as well as legal and regulatory compliance — Remuneration Committee: responsibilities include consideration of sustainability metrics in incentive plans — Nominations Committee: responsibilities include oversight of inclusion and diversity. The Board also receives direct updates on key sustainability issues as required. It approves sustainability and governance reporting to the market to ensure it is materially correct, balanced and provides appropriate information. [...] In FY24, we revised our Code of Conduct and Ethics to: strengthen anti-bribery and corruption guidance by including conduct directed to candidates for public office as public officials; expand our focus on human rights by broadening the scope of child labour in the definition of modern slavery; and enhance the reporting obligations for privacy incidents. We also introduced a requirement that the Board approve proposals by the Group to support prominent or potentially politically partisan public campaigns.

https://investor.qantas.com/FormBuilder/_Resource/_module/doLLG5ufYkCyEPjF1tpgyw/file/annual-reports/QAN_2024_Sustainability_Report.pdf

Looking forward: Our next steps over the coming 12 months [...] We will be implementing enhanced governance measures across the Group: [...] Focus on advocacy in establishing domestic SAF market and integrity in Australian carbon markets [...] Commitment to transparency and integrity on our targets and progress [...] Ensuring emissions and waste across our supply chains are reduced

https://investor.qantas.com/FormBuilder/_Resource/_module/doLLG5ufYkCyEPjF1tpgyw/file/presentations/QAN-2022-Climate-Action-Plan-Launch-Presentation.pdf

##### GOVERNANCE

###### Accountability and risk management
The Qantas Board has ultimate responsibility for overseeing the Group's ESG Strategy, including climate-related risks and opportunities, with assistance from its Board Committees:

https://www.qantas.com/content/dam/qantas/pdfs/about-us/environment/qantas-group-climate-action-plan.pdf