In FY2011/12, we are planning to establish a policy addressing gender diversity as required by the Revised Recommendations of the Australian Securities Exchange Corporate Governance Council's Corporate Governance Principles and Recommendations (ASX Recommendations) introduced on 30 June 2011 and will apply to the FY2011/12 financial year.
However, in the meantime, IPL has already introduced a number of changes within its governance framework, for example, under its Charter, the Remuneration and Appointments Committee is charged with:
The Board has a number of initiatives in place to ensure a diverse Board, including placing diversity on the agenda regularly for meetings of the Remuneration and Appointments Committee and establishing a process to regularly assess the skills, experience and background of the Board members with a view to ensuring a diverse mix relative to the Group's business and operations. In addition, the Chairman participated in the AICD ASX 200 Chairman's mentoring program which was designed to assist in the development of a broader pool of Board candidates.
During FY2010/11, in furtherance of the Group's recognition of the important contribution made to its business and operations by its people working across many different countries, with diverse experience, background, age, gender and cultural association, Incitec Pivot established a Diversity Council.
The Diversity Council was formed in recognition of the challenges presented by the industries within which the Group operates and the nature of its operations, which includes heavy manufacturing sites and remote and regional operations. The remit of the Diversity Council is to champion, influence and support the Company's diversity agenda, leading to the development of a diversity strategy directly relevant to Incitec Pivot's business and operations.
The Diversity Council has undertaken a diagnostic of the Group's operations and practices, accessing qualitative and quantitative data which has lead to the development of key priorities for diversity in FY2011/12, including:
Underpinning these priorities is the Group's continued focus on leadership development. The Group's leadership program, in place since 2010, was designed to create a strong organisational climate resulting from enhanced employee engagement, which independent research has shown leads to outstanding performance. This leadership program will be reviewed in FY2011/12 with a view to establishing a clearer understanding of diversity among leaders.
In FY2010/11, the Company received confirmation from the Australian Government's Equal Opportunity for Women in the Workplace Agency that it was compliant with the Equal Opportunity for Women in the Workplace Act 1999. The table below shows the percentage of females employed in the following categories as at 30 September 2011.
Incitec Pivot will commence reporting on its diversity policy in the 2012 Annual Report and Sustainability Report.
A separate project to provide employment opportunities for indigenous people in the regions we operate in is described in the Keystone Projects section.