Why corporate responsibility is important
Fenner understands that acting in a corporately responsible manner helps to deliver long-term, sustainable business success; it allows us to minimise our environmental impact, provide a supportive and safe working environment and support the communities in which we work. Responsible behaviour enhances our reputation, profitability and shareholder return, whilst simultaneously allowing us to mitigate a number of risks.
How we manage corporate responsibility
The Board sets the strategy and has overall responsibility for the development and monitoring of the Group’s policies relating to corporate responsibility. All policies and associated management systems are reviewed at least annually and at any time when significant changes in the business, legislation or industry standards demand. The Chief Executive Officer is required to ensure that policies are communicated to, and applied at, a divisional and operational level. Each operating unit is responsible for ensuring that, as a minimum, it meets local statutory requirements and is encouraged to operate in accordance with identified best practice within the Group.
Fenner has identified five key areas which form the foundation of our approach to corporate responsibility:
• Health and safety (“H&S”);
• Community; and
• Business behaviours.
The risks associated with these five areas are managed within the Group’s risk management framework and are continuously monitored and assessed, with appropriate controls put in place as necessary to reduce any potential impact. These areas are important to Fenner, as they provide us with an opportunity to effectively manage our impacts and contribute to positive outcomes. The following sections outline the policies and practices currently in place for those areas and provide an update of our performance in each of the areas over the financial year.