Sustainability is in our nature
Sustainability is one of Hydro Tasmania's core values and we are committed to creating a sustainable future. Sustainability for Hydro Tasmania involves the transparent and balanced application of economic, environmental and social considerations to business decisions and activities.
Our Sustainability Code (PDF 1.8 MB) identifies the seven principles that explain what it means for us to be sustainable.
The Code is being applied across our business as shown below, and our challenge is to further integrate our sustainability code.
- Balanced scorecard: annual strategies and targets that determine our priorities for the year.
- Annual sustainability report: Our annual report summarises our business performance based on our Sustainability Code, and includes independent verification to ensure the information we report publicly is accurate, material to our stakeholders and inclusive of their interests.
- Stakeholder inclusiveness:
- Our approach recognises that what we do has an impact on others. We believe that those affected by our operations have a right to be heard and we accept an obligation to account to them. We also believe that by working with our stakeholders we are better placed to address challenges than we would be operating on our own.
- At Hydro Tasmania stakeholders include organisations or individuals that can reasonably be expected to be significantly affected by our activities, products, and services; and whose actions can reasonably be expected to affect our ability to successfully implement our strategies and objectives. Under this broad definition we engage with the following stakeholder groupings:
- The shareholder the Tasmanian Government
- Customers and clients
- Suppliers and partners
- Community organisations and individuals
- Materiality process:
- In order find out which issues are important we draw upon a number of different sources of information which include but are not limited to:
- customer and client surveys
- supplier and community stakeholder surveys
- media monitoring
- Government Businesses Scrutiny Committee hearings
- annual risk management plans
- employee survey and leadership group interviews.
Information collected from the stakeholder sources listed above is used as an input to a process which determines the significance of identified issues. Issues that require active management or engagement by the organisation are likely to be considered to be significant.
The materiality process and findings are reviewed annually by an independent third party , which ensures important issues are identified and responded to with honesty and integrity. The material issues for each financial year can be found within our annual reports.
- International - we report annually against the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines. Find the GRI index and our annual reports here.