About our Sustainability Report
The reason for this report
At Trustpower we believe that producing an annual sustainability report is an essential part of being a good corporate citizen. This report provides a means of communicating with a range of stakeholders on the full range of our activities.
Consistent with previous years we report on sustainability in conjunction with our annual report.
To determine which issues are of material importance, we considered issues that might impact our operations, the environment, the communities in which we operate, or substantially impact on our individual customers and stakeholders.
Material measures are those identified from stakeholder interaction and key risks. By choosing these measures we have produced a report aimed at all stakeholders.
Sustainability reporting guidelines
This Annual Report is available on our website, www.trustpower.co.nz and is compiled with reference to the Global Reporting Initiative (“GRI”) Sustainability Reporting Guidelines Version 3.0 (“G3”). We have assessed our compliance with the reporting guidelines at the 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 organisational performance towards 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.
The full list of G3 indicators, where they are reported on in the report and to what extent they are reported can be found on our website or by inquiry to the address listed in the directory.
We have reviewed GRI’s G3 Reporting Principles in an effort to provide a balanced and reasonable representation of our sustainability performance.
We have applied the key principles of materiality, completeness, context, comparability, accuracy, timeliness, clarity, reliability and boundary setting.
Reporting period, accuracy and completeness
This report is based on the performance and information for the financial year to the end of March 2014. We use in-house reporting systems to collect data for the GRI process.
Boundary of the report
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.
The financial statements have been audited by PricewaterhouseCoopers. Independent review of the Company’s impact on greenhouse gases ‘carbon footprint’ has also been completed by PricewaterhouseCoopers.
The remainder of the report has not been subject to independent review.
At Trustpower we believe that sustainability means building a long term business through relationships with all who we interact with. In order to report on our progress in this regard we report economic, staff, environmental, customer and community related measures.
Our performance this year was comparable with previous years across the five areas we report on although not all targets were achieved.
1Due to systems changes we are now no longer able to collect this data. A new measure will be in place for the 2015 report.
A more detailed analysis can be found on the Our People, Our Environment, Our Community, Our Customers and Our Economic Performance pages.
All businesses face risks and challenges. Our key risks and challenges are summarised in the table below.