Our reporting approach
Our transparent and open source approach to reporting and disclosure of material information.
We report transparently to demonstrate how we're creating shareholder value, delivering on our strategy, laying foundations for long-term sustainability and making a positive impact in the communities we serve.
We take an open source approach to disclosure of material information, leveraging this Qantas Group Site as a single source of publicly available policies, procedures, initiatives and performance indicators across our material issues. Read a summary of our latest key performance indicators.
Over FY19 Qantas exceeded performance in sustainability benchmarking indices, again rated at a ‘Leading’ level by the Australian Council of Superannuation Investors (ACSI) and achieving the highest rating for our performance in the social category by Institutional Shareholder Services.
In disclosing our financial and non-financial performance, we comply fully with ASIC regulations, ASX rules and broader global reporting standards. Our Group Financial Framework - introduced in 2015 - aligns our strategy and key performance metrics with long-term shareholder goals, enabling consistent, year-on-year comparisons. We report our progress against the framework goals through half-year and full-year results announcements, quarterly trading updates, our Annual Report, our Annual General Meeting, regular Investor Days, other ad hoc investor presentations and this Qantas Group Site.
Commitment to disclosure
The Qantas Group's commitment to corporate governance standards is reflected in the following documents:
Further information about the Qantas Group’s Corporate Governance including ASX announcements, shareholder information and annual reports is available in the Investor Centre.
In line with best practice, we undertake an annual materiality assessment to validate the issues most relevant to our stakeholders — including investors, aircraft and engine manufacturers, airline and industry peak bodies, peers, government agencies, non-government organisations and employee and customer representatives.
We're committed to working with external organisations and initiatives that promote transparent reporting of financial and non-financial metrics in the public interest. A key test is whether participating in these external initiatives complements and extends our own reporting in a meaningful way.
- UN Global Compact – We have committed to implement the UN Global Compact’s ten principles on human rights, labour, environment and anti-corruption, and to make the Global Compact part of our strategy, governance frameworks and culture. We’re also seeking to align our reporting with broader global initiatives on responsible business, including the Sustainable Development Goals.
- Australian Government Tax Transparency Code – In 2016, the Qantas Group became one of the first companies to join the Australian Government’s Tax Transparency initiative, disclosing our tax payments and other tax related information for FY15, FY16 and FY17. This participation reflects our belief in a strong, transparent Australian tax system and an open public discussion on tax policy.
- Taskforce on Climate-related Financial Disclosures (TCFD) – In 2017, the Qantas Group committed to aligning our climate change-related disclosures to the TCFD recommendations. For FY2019, we have prepared a table summarising how the Qantas Group aligns to the TCFD recommendations (PDF), which this year also includes initial findings from the first phase of our climate scenario analysis.
- Sustainability benchmarking – Qantas conducts regular benchmarking through independent investor perception studies. Qantas uses Sustainalytics as an annual assessment of disclosure and performance across environmental, social and governance factors.
Our reporting strategy which focuses on direct disclosures to shareholders is prepared in a consistent manner with the guiding principles that underpin integrated reporting rather than the adoption of a prescriptive integrated reporting framework. The general principles of integrated reporting, as outlined by the International Integrated Reporting Council, which inform the content of the report and how information is presented includes strategic focus and future orientation, connectivity of information, stakeholder relationships, materiality, conciseness, reliability and completeness, consistency and comparability.
With a focus on direct disclosures to stakeholders, we have opted not to participate in the following external initiatives:
- Dow Jones Sustainability Indices – From 2009 to 2015 the Qantas Group was included in the Dow Jones Sustainability Asia/Pacific Index and the Dow Jones Sustainability Australia Index. When responding under this initiative company specific data and underlying documents remain confidential. Our preference is to streamline our reporting processes and disclose information relating to our sustainability performance and targets publicly within our company reporting.
- FTSE4Good Index – The Qantas Group has been included in the FTSE4Good Index Series since 2009, which recognised us as a sustainability leader in aviation. We are no longer actively taking part in FTSE4Good because our preference is to disclose sustainability metrics within our own public reporting.
- Carbon Disclosure Project (CDP) – We became a member of CDP in 2010. In 2015 we were awarded the Australian Climate Leadership Award for best disclosure and are also recognised on CDP’s 2016 Climate A List and 2016 Supply Chain Climate A List. Our preference is to streamline our reporting processes and disclose information relating to climate-related risk publicly and in alignment with the Taskforce for Climate-related Financial Disclosures (TCFD).