Our Board is ultimately responsible to our shareholding Ministers for Stanwell's strategy and performance. The Board is dedicated to fulfilling these duties in a lawful and professional manner and with the utmost integrity and objectivity. As such, the Board actively pursues best practice corporate governance processes and aims to remain amongst the top Australian companies in applied corporate governance.
Corporate governance is the system that directs and controls an organisation, and involves the allocation of rights and responsibilities across all areas, including the Board, Executive Management, staff, Shareholders and other stakeholders.
It provides the rules for decision-making and accountability, establishing levels and measures of performance against objectives, the structure and compliance requirements.
As part of its ongoing commitment to best practice corporate governance, the Board has formalised Stanwell's corporate governance framework in the form of a Board Handbook.
An overview of our corporate governance framework can be located in our Annual Report.
We comply with the Corporate Governance Guidelines for Government Owned Corporations and the Code of Conduct and Conflict of Interest Best Practice Guide for Government Owned Corporations and continually review our policies and procedures in light of further corporate governance developments based on these guidelines.