AUB Group Limited Annual Report 2023
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT YEAR ENDED 30 JUNE 2023
Material Topics identified Ethics and Integrity: – Responsible business and governance; – Integrity and ethical behaviour; – Responsible investment; – Financial resilience and profitability; – Trust, transparency and disclosure; – Fair insurance broker commissions; – Compliance; and – Data security and privacy.
Customers: – Technological transformation; and – Product innovation.
Social and Environment: – Climate change, environmental sustainability, and stewardship; – Social responsible engagement and reconciliation; and – Responsible supply chain.
Employee: – Partner relationship advocacy; – Employee training, development, and retention; and – Health, Safety and wellbeing.
During 2023 we reviewed the outcomes of the materiality assessment and confirmed that the topics identified remained our most important focus areas. Additionally, we considered stakeholder feedback obtained throughout the year from our stakeholders and whether this has any impact on our ESG strategy, ensuring we are agile and continuing to focus on the themes that matter most. We plan to undertake a materiality assessment every 3 years, with our next assessment to be completed in FY24. We engage with all our stakeholder groups on a regular basis to ensure we are responsive to their needs and concerns. ESG matters are becoming a growing area of concern for many of our stakeholders. Our key stakeholders and methods of engagement are:
STAKEHOLDER
DESCRIPTION
INTEREST
CUSTOMERS
Our network partners are in regular direct contact with their customers. They collect and analyse customer feedback through a range of interactions such as one on one meetings, online surveys, social media and focus groups. This helps to ensure that we are aware of, and able to respond to, the evolving needs of customers. A hardening commercial insurance market over the past 5 years has impacted the price and availability of insurance cover for our customers. We have regular discussions, briefings and meetings with investors, analysts and proxy advisors to keep them informed of our performance and any emerging risks and opportunities. We conduct regular employee engagement surveys, industry benchmark research and regular team meetings to keep our employees up-to-date on the latest company and industry developments. Using feedback and research we set targets to appropriately respond to employee issues. We engage with Federal and state-level governments, regulators and industry bodies through meetings and formal policy consultation submissions to advocate for issues important to our stakeholders. We ensure we comply with regulation and proactively adopt key principles of upcoming changes and best practice. We hold formal and informal meetings with our top suppliers including IT, product suppliers, insurance underwriters and finance providers.
Acting fairly and in their best interest. Providing access to insurance. Reducing cost pressures. Deliver a reliable and secure service.
SHAREHOLDERS
Responsible investing. Good governance practices. Oversight of decentralised group. Development opportunities. Market tested salaries. Technology to eliminate repetition. Flexible arrangements. Diversity targets and plans.
EMPLOYEES
GOVERNMENT AND REGULATORS
Good governance practices and risk mitigation. Strong asset management and protection.
SUPPLIERS
Prompt payments to small businesses. Supply chain integrity.
COMMUNITY
We engage with the communities in which we operate through volunteering, fundraising initiatives and events, workshops and funded programs.
Being a good corporate citizen Giving back through volunteering and charity
AUB GROUP ANNUAL REPORT 2023
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