Abacus Property Group – Sustainablity Report 2018
Abacus Property Group – Sustainablity Report 2018
Abacus Property Group – Sustainablity Report 2018
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Sustainability<br />
Governance<br />
At <strong>Abacus</strong>, our sustainability<br />
commitments are the responsibility<br />
of our Board, Sustainability<br />
Committee, management and<br />
employees. We acknowledge that<br />
sustainability leadership at the<br />
Board and senior management<br />
level is critical to integrating<br />
sustainability management and<br />
performance into our business. The<br />
Compliance Committee (which is<br />
a Board delegated Committee) is<br />
updated regularly by management<br />
on sustainability matters. In late<br />
<strong>2018</strong>, we will improve sustainability<br />
governance and leadership around<br />
governance by introducing a Board<br />
approved Sustainability Charter<br />
and re-forming the Sustainability<br />
Committee with a quorum of three<br />
Executive Team members. The<br />
revised Charter will clearly define the<br />
roles, responsibilities and reporting<br />
lines in relation to sustainability to<br />
drive top-down strategic direction<br />
and planning at <strong>Abacus</strong>.<br />
Looking forward<br />
Consistent with the new topics<br />
identified as part of our FY18<br />
materiality assessment, we<br />
understand that our stakeholders are<br />
seeking increased disclosures around<br />
anti-corruption, customer privacy and<br />
responsible procurement issues.<br />
We recognise the significance of<br />
modern slavery risks in the broader<br />
supply chain, and particularly the<br />
presence of child labour or forced<br />
labour in developing countries. In<br />
line with the proposed Australian<br />
Modern Slavery Act, we are looking<br />
to review our operating practices to<br />
ensure adequate identification and<br />
management of modern slavery risk<br />
within <strong>Abacus</strong>’ supply chain.<br />
Emerging technologies have<br />
improved the delivery of key services<br />
and assisted in the streamlining of<br />
internal processes. Associated with<br />
this, <strong>Abacus</strong> understands that there<br />
are increasingly unknown customer<br />
privacy and cyber security risks. To<br />
understand and respond to the cyber<br />
threat landscape, we will undertake<br />
an independent cyber security<br />
assessment in FY19 to identify the<br />
key cyber threats facing <strong>Abacus</strong>.<br />
FY18 priorities and performance<br />
FY18 PRIORITIES STATUS FY18 PERFORMANCE<br />
Review of the Breach Policy to include data<br />
breach response plans and process improvements<br />
for compliance with Mandatory Data Breach<br />
notification in February <strong>2018</strong><br />
Review of the Business Risk Management Policy,<br />
Risk Management Framework, The Compliance<br />
Plan and completion of enhanced risk reporting<br />
in line with ASIC Regulatory Guide 259 ‘Risk<br />
Management Systems of Responsible Entities’<br />
Our Breach Policy and Privacy Policy have been updated to align<br />
with the Mandatory Data Breach notification protocols, as required<br />
by the Privacy Amendment (Notifiable Data Breaches) Act 2017.<br />
An independent, comprehensive risk review was undertaken in<br />
FY18. Following this, <strong>Abacus</strong> has updated its risk management<br />
framework to ensure alignment with ASIC’s Regulatory Guide 259<br />
‘Risk Management Systems of Responsible Entities’<br />
Future priorities<br />
<strong>–</strong> Zero tolerance for non-compliance with laws and regulations.<br />
<strong>–</strong> In line with our commitment to further strengthening our governance<br />
framework, completion of an independent Board Performance review.<br />
<strong>–</strong> Enhance Sustainability Governance through a Board approved Sustainability<br />
Charter and re-forming the Sustainability Committee with members of the<br />
Executive Team.<br />
<strong>–</strong> To understand and respond to the cyber threat landscape, completion of<br />
an independent cyber security assessment to identify key cyber threats<br />
facing <strong>Abacus</strong>.<br />
Achieved<br />
In progress<br />
ABACUS PROPERTY GROUP | SUSTAINABILITY REPORT <strong>2018</strong>