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TrustPower has reported on Sustainability issues, in a number of forums over a number of years. However, this is the first comprehensive sustainability report.
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THE REASON FOR THIS REPORT
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Producing a sustainability report is part of the process of defining what being a responsible sustainable organisation means to TrustPower and its stakeholders. It will help promote discussion both within the Company and the communities in which we operate.
TrustPower proposes to report on sustainability each year in conjunction with its annual report.
To determine which issues are of material importance, the Company considered issues that might impact the operation of the Company, the environment, the communities in which we operate, or substantially impact our individual customers and stakeholders.
Material measures are those identified from stakeholder interaction (pages 17-19) and key risks (page 17). By choosing these measures the Company has produced a report aimed at all stakeholders.
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SUSTAINABILITY REPORTING GUIDELINES
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This Annual Report is available on TrustPower’s website, www.trustpower.co.nz and is compiled with reference to the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines Version 3.0 (G3). It fully meets the content requirement of Application Level (C) and substantially meets the requirements of Application Level (B).
The GRI guidelines provide a voluntary reporting framework used by organisations around the world as the basis for sustainability reporting. The GRI is the generally accepted framework for ‘measuring, disclosing, and being held accountable to internal and external stakeholders for organisation performance toward the goal of sustainable development’.
The GRI consists of a framework and guiding principles as well as a range of indicators that reporting organisations can report against. Indicators are chosen on the basis of materiality or significance to the business and / or stakeholders. Not all indicators are reported against in this report.
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REPORTING PRINCIPLES
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The Company has reviewed GRI’s G3 Reporting Principles in an effort to provide a balanced and reasonable representation of TrustPower’s sustainability performance.
TrustPower applied the key principles of materiality, completeness, context, comparability, accuracy, timeliness, clarity, reliability and boundary setting.
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REPORTING PERIOD, ACCURACY AND COMPLETENESS
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This report is based on the performance and information for the financial year to the end of March 2008. TrustPower uses in-house reporting systems to collect data for the GRI process.
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BOUNDARY OF THE REPORT
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This report covers the operations of TrustPower and all of its subsidiaries. Outside the scope of this report are outsourced customer services and a variety of field services contractors.
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EXTERNAL ASSURANCE
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The financial statements have been audited by PricewaterhouseCoopers. Independent review of the Company’s impact on green house gasses carbon footprint is being completed by Landcare Research.
The remainder of the report has not been subjected to independent review. A full independent review of next year’s report is currently being considered by the Company.
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