Sustainability Governance
Sustainability Governance
We have set out a number of initiatives and commitments that underpin our four sustainability focus areas, including implementation plans that allow us to track our progress. We will continue to evolve our initiatives and commitments over time so that they remain relevant, meaningful and ambitious. In addition to various voluntary and mandatory reporting our progress is extensively covered in our Annual and Sustainability Reports, located on our Investor Relations page.
Board
Our highest level of responsibility for sustainability sits with the TPG Telecom Board, which is accountable for overseeing and monitoring environmental, social and governance (ESG) risks and opportunities, including climate risk, and the Sustainability Strategy. This is detailed within the TPG Telecom Board Charter, located on our Investor Relations page.
The TPG Telecom Audit & Risk Committee (ARC) oversees disclosure by TPG Telecom relating to its ESG risks, including climate risk, and how it manages or intends to manage those risks. This is detailed within the TPG Telecom ARC Charter, located on our Investor Relations page. Sustainability-related updates, including climate risk, are provided to the ARC via quarterly enterprise risk updates and six-monthly Sustainability Strategy updates. The risk updates focus on TPG Telecom’s management of its material risks, while the sustainability updates focus on the management of our Sustainability Strategy, including tracking progress against significant targets and commitments.
Significant sustainability-related targets and commitments are presented to the Board and its committees for approval. These have included our climate risk roadmap, emissions reduction targets, renewable energy target and gender representation targets. To support TPG Telecom’s sustainability commitments, the TPG Telecom Board has included ESG performance measures within the short-term incentive (Customer NPS and Employee Experience) and long-term incentive (Renewable Energy Target) plans for executives.
Management
Telecom’s Executive Leadership Team (ELT) meets regularly to monitor business performance, as well as to develop and execute strategy. This includes aspects of the Sustainability Strategy, including climate-related risks and opportunities. The Head of Sustainability and the Group Executive Legal & External Affairs are responsible for the execution of the Sustainability Strategy and report regularly to the ELT on sustainability matters, including climate risk. The primary forum focused on the TPG Telecom Sustainability Strategy is the Sustainability Council, which meets on a quarterly basis. The Council, chaired by the Group Executive Legal & External Affairs, consists of senior leaders from business areas and functions across the organisation including sustainability, risk, compliance, finance, property, procurement, network infrastructure, customer (including consumer and enterprise & government), people experience, legal, regulatory and others. The Council is accountable for overseeing and monitoring the execution and delivery of the TPG Telecom Sustainability Strategy. Additional working groups exist to focus on managing particular issues or initiatives that underpin our broader Sustainability Strategy priorities. These are managed by our Head of Sustainability, with senior representation from the relevant teams involved.
Risk management
Our Risk Management Framework is the basis for all group risk assessments including risks relating to ESG factors. We are committed to driving a strong risk culture which results in better outcomes for our customers, communities, and investors. We conduct regular risk assessments at an enterprise and business unit level which includes reviewing risks relating to ESG matters. For further information on our Risk Management Framework and material risks, refer to the Material Risks section in our Annual Report and our Corporate Governance Statement, located on our Investor Relations page.