Our approach to political donations
The community very reasonably expects that corporates should not have an undue level of influence on government policy by providing a level of financial contribution to political parties that could result in, or could be seen to result in, preferential treatment.
AGL does not make ex-gratia donations to any political party or to any individual in, or seeking to obtain, political office. However, from time to time AGL has contributed financially to political parties via membership fees of political networking forums and by paying to attend various functions.
AGL released a Board-approved Political Donations Policy (December 2014) that committed AGL to ensuring that all donations are:
- made in a bipartisan manner and in compliance with all relevant reporting requirements;
- disclosed even if the donation amount is below the disclosure threshold;
- proactively disclosed every quarter to AGL’s Audit and Risk Management Committee and then subsequently published on the AGL website;
- approved by either the CEO, Company Secretary or Executive General Manager Stakeholder Relations (formerly Group Head of Corporate Affairs); and
- not made via any undisclosed proxies or third parties as intermediaries.
However, in the recognition that community concern around political donations affects our ability to build trust with our stakeholders, in August 2015 AGL’s Board approved a revised Political Donations Policy (August 2015), which prohibits AGL from making any political donations in the future.
Political donations made in FY2015 are outlined below (and included in AGL’s FY2015 Sustainability Report). This list comprises all donations including those below the disclosure threshold.
Leave a Reply