Overview of governance
Good corporate governance is critical to the long-term, sustainable success of Fortescue and is the collective responsibility of the Board of Directors and all levels of management.
Governance framework
Fortescue seeks to adopt leading practice, contemporary governance standards and apply these in a manner consistent with its culture and Values.
Fortescue supports the intent of the 4th Edition of the ASX Corporate Governance Council Principles and Recommendations (Principles and Recommendations). Unless otherwise disclosed, Fortescue has reported against the revised requirements of the 4th Edition of the Principles and Recommendations.
The cornerstone principles of corporate governance at Fortescue are:
Transparency
Being clear and unambiguous about the Company’s structure, operations and performance, both externally and internally, and maintaining a genuine dialogue with, and providing insight to stakeholders and the market generally.
Integrity
Developing and maintaining a corporate culture committed to ethical behaviour and compliance with the law.
Empowerment
Everyone at Fortescue is empowered to make decisions that support the organisation’s objectives and are in the best interests of stakeholders. Management and staff are encouraged to be innovative and strategic in making decisions that align with Fortescue’s risk appetite and are undertaken in a manner consistent with corporate expectations and standards.
Corporate accountability
Ensuring that there is clarity of decision making within the Company, with processes in place to ensure the right people have authorised approval to make effective and efficient decisions, with appropriate consequences delivered for failures to follow those processes.
Stewardship
Developing and maintaining a company-wide recognition that Fortescue is managed for the benefit of its shareholders, taking into account the interests of other stakeholders.
Documents and Charters
Key corporate governance documents can be accessed from the following links:
The Board is responsible to the shareholders for the performance of the Company and operates within:
The Board Committees operate under specific Charters including:
- Audit, Risk Management and Sustainability Committee Charter
- Remuneration and People Committee Charter
- Finance Committee Charter
- Nomination Committee Charter
Fortescue actively promotes ethical and responsible decision making through:
Fortescue operates under the following Policies and Documents:
- Declaration of Interests Policy
- Declaration of Interest Standard
- Health and Safety Policy
- Climate change policy
- Human Rights Policy
- Continuous Disclosure and Market Communications Policy
- Securities Trading Policy
- Risk Management Framework and Policy
- Diversity Policy
- Salary Sacrifice Share Plan
- Performance Rights Plan
- Directors’ and Executives’ Shareholding Policy
- Directors Conflict of Interest Policy
- Whistleblower Hotline Policy
- Global Taxation Policy
- Environment Policy
- Free, Prior and Informed Consent