We continually re-examine the broader sustainability landscape to identify emerging risks and opportunities.
This work built on the original sustainability risk and opportunities assessment undertaken by external advisors in 2015.
The assessment engaged a broad range of internal and external stakeholders, compared our approach to our peers and examined regulatory, political, environmental and social trends in order to determine how best to approach the sustainability risks and opportunities of greatest importance to us.
This reflects our ongoing commitment to investing time and effort into assessing Orora’s exposure to material risks in accordance with the ASX Corporate Governance Council’s Corporate Governance Recommendation 7.4[1]
The review determined that, other that as set in the Principal Risks section of the Annual Report, we do not at this time have a material exposure to environmental or social risks.
Climate Change
We recognise that climate change may present risks that could impact our future profitability and prospects.
In response, we will enhance and broaden our work in better understanding our contribution to - and the impact of - climate change on our business.
This will include commencing the implementation of the requirements of the Task Force on Climate-related Financial Disclosures (“TCFD”).
As a first step in this direction, Orora has addressed applicable TCFD requirements as part of its CDP response for the most recent reporting period, which is financial year ending 30 June 2017.
[1] Recommendation 7.4: A listed entity should disclose whether it has any material exposure to economic, environmental, and social sustainability risks and, if it does, how it manages or intends to manage those risks. Source: Corporate Governance Principles and Recommendations, Australian Securities Exchange Corporate Governance Council (3rd Edition), 2014