IGO SUSTAINABILITY REPORT 2022— 87 86 —IGO SUSTAINABILITY REPORT 2022 Business Integrity Measuring our Performance Sustainability Indicators and Targets Progress FY22 FY21 Read More Percentage of women on the Board and the ELT 43%: Female representation on the IGO Board and the ELT in FY22, consistent with IGO’s commitment to promote diversity across our business Page 41 Compliance In FY22, IGO was not subject to legal action or prosecution Page 87 During FY22 IGO’s corporate governance practices complied with the ASX Recommendations in their entirety Page 85 Governance Framework, Policies and Standards In FY22, there were no material breaches of the Code of Conduct, Anti-Bribery and Corruption Standard and Fraud Control Plan. There was one incident reported via the Speak Up Standard Page 85 Tax IGO continues to make significant tax contributions Page 90 Target met/acceptable performance Target on track/adequate performance Target not met/we need to do better IGO’s Board Sustainability Committee Membership Role Key Accountabilities Keith Spence (Chair) Michael Nossal Xiaoping Yang To assist the Board in meeting its oversight responsibilities in relation to the Company’s sustainability policies and practices. • Monitoring relevant changes in legislation and corporate governance in relation to sustainability reporting • Reviewing the Company’s health and safety, and environmental performance as well as community relations • Consideration of heritage and land access matters affecting the Company • Consideration of climate change-related risk and opportunities relevant to IGO • Reviewing and recommending to the Board the approval of the Company’s Sustainability Report. • Traditional Owners and Communities – Company Secretary and Head of Corporate Affairs and General Counsel and Head of Risk & Compliance • Our Response to Climate Change – Chief Operating Officer • Environment – Chief Operating Officer • Business Integrity – all members of the ELT; and • Our Financial Contributions – Chief Financial Officer. All IGO employees are accountable for contributing to the creation of value and enhancing our sustainability within their area of responsibility. IGO’s remuneration arrangements, including incentive payments, are variously applied to all IGO employees. The Managing Director and CEO’s performance is measured against metrics relating to financial and operational performance, the execution of our growth strategy and the sustainability of our performance. Remuneration arrangements for the ELT are comprehensively described in IGO’s 2022 Annual Report. IGOManagement System IGO maintains a document management system based on AS/ NZS ISO standards. Our system is informed by a hierarchy of processes. This hierarchy starts with our purpose and values. These in turn give rise to our strategy, Code of Conduct and operating policies. These high-level documents inform our Common Management System Standards (i.e., the prescription for the fundamental high-level business processes within IGO). In turn, these standards give rise to functional standards (e.g., safety, financial, information technology). Finally, it is these functional standards that inform the specific guidance on how work is to be planned and executed through procedures and safe work instructions. As the Company has grown, so has the IGO Management System. During FY23, we will continue the restructure of the IGO Common Management System Standards to ensure that these are aligned with the culture of the Company. Conformance with our Management System IGO has two well-established assurance processes to ensure the ongoing integrity of our systems: IGO’s corporate assurance program and IGO’s Speak Up process. IGO’s corporate assurance program is comprised of an internal and external audit, operational reviews and inspections. External audit is primarily targeted at financial management and is completed in accordance with the law and recognised accounting standards. IGO’s internal audit process is based on the progressive review of those elements of the IGO management operating system that control high-risk business processes, inclusive of, but not limited to, internal financial control and ESG management. Our corporate assurance program is overseen by the Audit & Risk Committee. All sustainability related risks are overseen by the Sustainability Committee which is governed by the Audit & Risk Committee to monitor how these risks are being managed by the Company. For more detail on the responsibilities and key activities undertaken by the Sustainability Committee in FY22 refer to the 2022 Annual Report and the table on page 87. In FY22, IGO’s financial audit was completed by BDO Audit (WA) Pty Ltd, as detailed in the 2022 Annual Report. In FY22, the IGO internal audit program was coordinated by Enumerate. Given the diverse range of matters to be addressed by our non-financial audit, from internet security to geotechnical controls within an underground mine, IGO engages specific subject matter experts as required to complete these internal audits. While IGO’s corporate assurance program identified numerous opportunities for improvement in FY22, none were deemed to be material to the governance and sustainable operation of our business. However, from the improvement opportunities identified, corrective actions have been prioritised and work is ongoing. The Audit & Risk Committee has oversight of IGO’s fraud control plan. The efficacy of this plan is tested as part of the corporate assurance program. In FY22, no acts of fraud of any type were identified. However, like most businesses, IGO is vigilant to potential cyber-security threats. As such, we have an ongoing program to strengthen our IT systems to help mitigate cyber attacks. Statutory Compliance In FY22, IGO was not subject to legal action or prosecution. IGO’s corporate assurance program continues to test the business’ compliance with the law. RiskManagement For IGO, effective management of risks is imperative in order to live our purpose and deliver on our strategy. We believe good risk management allows us to safeguard our people, assets, reputation and the environment and serves the long-term interests of all our stakeholders. IGO’s approach to risk management is governed by our risk management framework and standard, our Common Management System Standard 3 – Risk Management (CMSS3), which is aligned to the principles of the International Standard for Risk Management 31000. During FY22, IGO commenced a review of its risk IGO’s Board is responsible for promoting the success of the Company in a way which ensures that the best interests of shareholders and all stakeholders are promoted and protected. The Board defines, approves and monitors a clearly articulated governance framework. The governance framework provides strategic guidance and appropriate delegation of authority. It dictates clear accountabilities for regulating activities, including performance and risk management, and business improvement. The Board recognises the need to regularly review the framework as best practice evolves. Details of IGO’s Board members are published in the 2022 Annual Report. IGO’s Board has established four committees that enable the Board to effectively discharge its responsibilities: • Audit & Risk • Nomination & Governance • People, Performance & Culture; and • Sustainability. Each committee works within a Charter approved by the Board, which sets out the roles and responsibilities, composition structure and membership requirements. IGO regularly reviews its governance framework and governance policies and standards to ensure they reflect current and emerging legislation and industry best practice. These documents include: • Code of Conduct • Anti-Bribery and Corruption Standard • Continuous Disclosure and Information Standard • Dealing in Securities Standard • Diversity and Equal Opportunity Standard • Privacy Standard • Speak Up Standard; and • Conflict of Interest Standard. IGO issues an annual Corporate Governance Statement outlining the Company’s current corporate governance framework by reference to the Corporate Governance, Principles and Recommendations 4th Edition of the ASX Corporate Governance Council (ASX recommendations). IGO’s Charters, Governance Standards and Corporate Governance Statement can be found in the Governance section on our website. During the FY22 reporting period, IGO’s corporate governance practices complied with the ASX recommendations in their entirety. Remuneration arrangements for the Board are comprehensively described in IGO’s Annual Report. Board Succession During FY22, the following Director movements were noted: • Michael Nossal transitioned to the role of Chair on 1 July 2021 after joining the Board as a Non-executive Director in December 2020; and • Peter Bilbe retired from the Board at the Annual General Meeting in November 2021. Executive Leadership Team The Board delegate responsibility for the day-to-day operations and administration of the Company to the Managing Director and CEO, Mr Peter Bradford, and the ELT. Together they are responsible for IGO’s business processes and sustainability performance. The composition and roles and responsibilities of the ELT are presented in IGO’s 2022 Annual Report. The responsibility of sustainability across the IGO seven pillars are assigned to various members of the ELT, including: • Our People – Head of People & Culture • Safety and Wellbeing – Chief Operating Officer
RkJQdWJsaXNoZXIy MjE2NDg3