About this Report
AGL recognises that transparent reporting about our strategy, our performance and our challenges is an essential part of our responsibility to our shareholders and other stakeholders, and to maintaining our licence to operate.
For the first time, we have prepared our Annual Report with reference to the International Integrated Reporting Council’s (IIRC) International Integrated Reporting Framework, as we believe it provides a useful basis for disclosing how we create sustainable value for our shareholders and other stakeholders over time.
We have used the framework to demonstrate how consideration of risks and opportunities (both those arising from our business and those that exist in a broader operational context), our purpose and our values drive our strategy. We have also considered how the execution of our strategy creates value, applying a lens that is broader than financial performance alone.
We recognise that the transition to Integrated Reporting is a journey. Information provided in this report should be considered as a baseline from which we expect to introduce additional and alternative key performance indicators as well as targets to drive our performance from FY20.
This report is designed to be read in its entirety. The required elements of the Directors’ Report, including the Operating and Financial Review (OFR) as required by ASIC Regulatory Guide 247, are covered in sections Year in Review , Business Value Drivers and Director's Report. Commentary on AGL’s financial performance specifically is contained in the Operating and Financial Review, and references information reported in the Financial Report.
The Remuneration Report and the Financial Report have been audited by Deloitte. The non-financial metrics included in the Directors’ Report (Business Value Drivers) are subject to internal verification processes.
This report is available on our website at agl.com.au/2019annualreport. A printed copy of the report is available free of charge upon request.
AGL’s 2019 Corporate Governance Statement is available at agl.com.au/corporategovernance.
As a result of the transition to Integrated Reporting, we will no longer publish a stand-alone Sustainability Report. However, a comprehensive data centre in which additional performance data is available to view and download can be found at 2019datacentre.agl.com.au. This includes AGL's performance against the sustainability targets set for FY19.
Business Value Drivers
AGL creates value for shareholders and other stakeholders through the utilisation of various forms of capital: financial, manufactured, intellectual, human, social and relationship and natural.
Social and relationship capital
Effective and trusted relationships with residential, business, and wholesale customers.
COMMUNITIES & RELATIONSHIPS
Social and relationship capital
The strength of working relationships and trust with key stakeholders; brand and reputation.
The competencies, experience, behaviours, engagement and wellbeing of AGL’s employees and contractors.
Access to and stewardship and use of scarce natural resources, and AGL’s impact on the natural environment, both directly and as a result of the products and services provided.
Effective and efficient use of assets throughout the value chain that AGL uses, owns or has control of, to enable delivery of energy to the market and to customers.
SYSTEMS & PROCESSES
Availability and development of processes, knowledge, insights, systems and data, including energy portfolio management and customer analytics, to support and enhance business activities.
Access to and management of financial capital to support execution of strategy and investment in growth opportunities through retaining financial market support.
Information about our performances and outlook in respect of each Business Value Driver can be found
on this page.
Forward looking statements
This report includes information about AGL’s performance for the period 1 July 2018 to 30 June 2019. Any forward-looking statements are based on AGL's current expectations, best estimates and assumptions as at the date of preparation, many of which are beyond AGL’s control. These forward-looking statements are not guarantees or predictions of future performance, and involve known and unknown risks, which may cause actual results to differ materially from those expressed in the report.
Sustainable Development Goals
The United Nations Sustainable Development Goals (SDGs) are a set of 17 interconnected goals, which form a global benchmark for achieving a sustainable future for all.
While many of the SDGs intersect with AGL's operations, the three SDGs we assess as most material to our strategy and operations comprise SDG 13 – Climate Action; SDG 7 – Affordable and Clean Energy; and SDG 9 – Industry, Innovation and Infrastructure.