Incitec Pivot Ltd

Incitec Pivot Ltd (IPL) demonstrates a comprehensive governance process for climate lobbying, with clear mechanisms for monitoring, alignment, and oversight. IPL conducts annual independent reviews to assess the alignment between its climate change policies and those of its industry associations, stating that "Each year IPL commissions an independent review of the alignment between our climate change policies and those of the industry associations of which we are a member." The company has formalized a governance framework for memberships of associations, including guidance for addressing differences in publicly stated climate change policies, enabling "further engagement with industry associations as appropriate." IPL also introduced a new review method in 2023 to enhance transparency and cater to stakeholder feedback. Oversight of climate lobbying governance is robust, with the IPL Board overseeing climate change strategy and governance responsibilities, as outlined in the "IPL Board Charter and the Audit and Risk Management Committee Charter." Additionally, the Decarbonisation and Energy Transition Steering Committee (DETSC), chaired by the MD&CEO, is tasked with aligning actions and engagement with policy and company strategy, ensuring statements to external parties undergo legal review to align with IPL strategies approved by the Board. IPL's governance extends to indirect lobbying, as evidenced by its engagement with trade associations and the assessment of their climate positions, which includes criteria such as alignment with the Paris Agreement and Net Zero by 2050. This indicates a robust governance framework that integrates direct and indirect lobbying activities, supported by recurring audits, executive oversight, and transparent processes.