Where appropriate, we are committed to working with external organisations and initiatives that promote transparent reporting of 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. Wesfarmers currently works with a number of external organisations and applies a number of reporting frameworks and indices, including:
- UN Global Compact;
- Sustainable Development Goals;
- Australian Government Tax Transparency Code. Wesfarmers joined the Australian Government’s Tax Transparency initiative and became a signatory to the register of entities committing to lodge a Tax Transparency Report, publishing our first report in December 2016. In December 2019, we released our annual 2019 Tax Contribution Report which provides stakeholders with the necessary information concerning Wesfarmers' Australian Tax activities for the 2019 financial year; and
- The Dow Jones Sustainability Index (DJSI). The DJSI tracks sustainability performance of leading companies around the world. In 2019, Wesfarmers was one of only eleven retail companies worldwide to be included in the DJSI World Index, one of only four retail companies in Asia Pacific to be included in the DJSI Asia Pacific Index and one of only two retail companies in Australia to be included in the DJSI Australia Index. A summary of DJSI's latest assessment of Wesfarmers sustainability performance can be found here.
Wesfarmers has been a member of the Carbon Disclosure Project (CDP) since 2010. However, with our current focus on direct disclosures to stakeholders, we have opted not to participate in the CDP so we can focus our efforts on streamlining our reporting processes and publicly disclosing climate risk related information in alignment with the Taskforce for Climate-related Financial Disclosures (TCFD).
GRI Standards reference: GRI 102-12, GRI 102-13