Governance
Our policies and management systems lay the foundations for our culture of shared responsibility and accountability.
Meeting our obligations with considered approach and thoughtful action
Our focus is to meet the changing expectations and demands of our customers, stakeholders and communities, and we work collaboratively to continuously improve our operational, environmental and social performance. At Port Waratah we believe that we are obliged to operate responsibly and sustainably, and we encourage a culture of shared responsibility and accountability through all levels of our business.
As an unlisted public company, Port Waratah is overseen by a Board of Directors representing a range of shareholders. This Board determines and monitors our strategic direction and that we are meeting our legal and social responsibilities. Our comprehensive internal audit programme helps ensure our governance processes achieve their objectives, and our policies and management systems lay the foundations for our culture and how we engage with each other and our stakeholders. Our management team approves objectives and targets, which are tracked at least monthly.
Most of our regulatory reporting is related to financial, environmental and workplace health and safety requirements as dictated by State and Federal Governments. We are also subject to external financial, health and safety, and environmental audits.
Specific policy documents are available below:
Our Governance Framework
Our governance framework involves all levels of our organisation, and everyone has a role in reviewing, identifying and managing sustainability opportunities and risks.
Our Chief Executive Officer oversees our economic, social and environmental performance with the Leadership Team reporting to the Board.
Position descriptions for each employee are aligned with our business strategy and include commitments to our business drivers.
Targets are embedded in all Employee Annual Performance Reviews and in our business performance incentive programme.
All new Port Waratah employees and contractors undertake an induction programme that includes training on our values and business drivers.
Our Governance Framework
View InfographicGovernment and business relations
We work constructively with local, State and Federal Governments to drive positive outcomes for our industry and the Newcastle Region.
Port Waratah is regulated through a range of development consent and licensing conditions with the NSW Department of Planning and Environment, as well as the NSW Environment Protection Authority. We also work closely with a number of government agencies including the Australian Competition and Consumer Commission (ACCC) and NSW Port Authority. To ensure compliance with our maritime security legislation, we partner with authorities such as the Australian Federal Police, Australian Customs and the Australian Quarantine and Inspection Service.
We actively engage with local agencies and industry groups, including City of Newcastle, to share our views on specific issues that impact our organisation, stakeholders, industry or region. At times, we may host elected members of parliament on our sites on request or for discussion of specific issues material to our operations however, we do not support any political viewpoint or party and do not make political donations of any kind. We respect the right of private citizens and organisations to express their individual views and opinions on any issue, as long it is done in a way which is respectful and legal.
Port Waratah participates in local business and economic networks, including Business Hunter, Committee for the Hunter, HunterNet, Port of Newcastle Community Liaison Group, Newcastle Community Consultative Committee on the Environment (NCCCE). We build relationships with these organisations as they support local businesses and economic development in our region.
Commercial practice
Port Waratah is party to the Capacity Framework Arrangements at the Port of Newcastle.
The Capacity Framework Arrangements were granted by the Australian Competition and Consumer Commission (ACCC) in 2009. This long-term solution to ongoing capacity constraints in the Hunter Valley Coal Chain was made with Newcastle Coal Infrastructure Group (NCIG) and the Newcastle Port Corporation to give effect to port capacity arrangements and permission to apply industry levies where appropriate. The framework also impedes anti-competitive behaviour and Port Waratah has not been subject to any legal proceedings in relation to the framework.
We do not allow Port Waratah’s agents or employees to receive gifts that may be perceived as influencing their duty to act in the best interests of Port Waratah. We do not tolerate corruption in any form. While we will always seek to enter into commercially favourable agreements, we do this on the condition that they are not at the expense of our organisational values or business drivers.
Effective Systems
We continue to meet our obligations under the Security Legislation Amendment (Critical Infrastructure Protection) Act 2022 (amending the Security of Critical Infrastructure Act 2018). This includes enhanced cyber security measures to protect our corporate and process control systems from the risk of cyberattack.