For personal use only
Annual Report 2021
Who we are
onlyOrica is one of the world's leading mining and infrastructure solutions
providers. From the production and supply of explosives, blasting systems, mining chemicals and geotechnical
usemonitoring to our cutting-edge digital solutions and comprehensive range of services, we sustainably mobilise the earth's resources.
We produce a suite of reports to meet the needs of a wide range of stakeholders including shareholders, debt investors, customers, suppliers, and government bodies. The following documents are available at orica.com/Investors
- FY2021 Full Year Results Investor Presentation
personal | - | FY2021 Full Year Results ASX Announcement | |||
- | FY2021 Modern Slavery Statement | ||||
FY2021 Climate Action Report | FY2021 Sustainability Supplement | ||||
Climate-related information aligned to the Forecommendations of the Task Force on
Climate-related Financial Disclosures (TCFD).
FY2021 Corporate
Governance Statement
Supplement to our Annual Report which includes our sustainability scorecard and details our materiality assessment process.
FY2021 Tax Transparency Report
Made in accordance with the ASX | Overview of our approach |
Council's Corporate Governance Principles | to tax, governance structure, |
and Recommendations (4th Edition). | and tax position. |
We are on a journey to enhance our reporting and welcome any feedback you may have regarding our reporting suite. Please address any questions, comments, or suggestions to investorrelations@orica.com.
Introduction and Overview | Our Business | Our Performance | Governance and Risk | Directors' Report | Financial Statements | Other Information |
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Contents
Who we are | IFC | Reporting what matters | 03 | |
About this report | 02 | FY2021 year in review | 04 | |
10 | 12 | |
Our Business | Strategy | |
16 | 22 |
Business | Technology |
model | and innovation |
For
Letter from our Chairman and Managing Director 06
Our Business | 10 |
Strategy | 12 |
Business model | 16 |
Operating in a dynamic environment | 18 |
Our global footprint | 20 |
Technology and innovation | 22 |
Our stakeholders | 24 |
Our Performance | 26 |
Executive Committee | 28 |
Financial | 30 |
Safe and responsible business | 42 |
People and capabilities | 48 |
Climate and the natural environment | 52 |
Community and relationships | 64 |
Governance and Risk | 70 |
Board of Directors | 71 |
Managing risk through uncertain times | 76 |
Material risks and opportunities | 80 |
Directors' Report | 82 |
Remuneration Report | 86 |
Financial Statements | 107 |
Other Information | 175 |
ORICA Annual Report 2021 | 01
About this report
onlyWelcome to our FY2021 Annual Report, which forms
part of our corporate reporting suite for the 2021 financial year.
Integrating Sustainability
Sustainability is at the core of what we do; the decisions we make, our policies and processes, and the actions of our people. To reflect its importance, we have integrated our material sustainability disclosures and metrics into
useSTRUCTURE AND CONTENT The elements of the Directors' Report, required by Australian Securities and
Investments Commission (ASIC) Regulatory personalGuide 247, are covered on pages 04
to 106. This includes the Operating and Financial Review (OFR) which is presented on pages 04 to 69. The basis of preparation of our financial statements is outlined on page 114.
This report has been prepared with reference to elements of the International Integrated Reporting Council's (IIRC) International Integrated Reporting Framework (IR Framework). We have used the IR Framework to demonstrate how our purpose and our values, as well as consideration of risks and opportunities, drive our strategy. We have also considered how our strategy creates value, beyond financial performance alone. In FY2022, we expect to further enhance our disclosures, and introduce a holistic scorecard of Key Performance Indicators.
This report covers all Orica operations Forworldwide over which, unless otherwise
stated, we have control for the financial year ending 30 September 2021 (collectively 'the Orica Group', or 'the Group'). Monetary amounts in this document are subject to rounding and are reported in Australian dollars, unless otherwise stated.
VERIFICATION AND ASSURANCE
The Remuneration Report (pages 87 to 105) and Financial Statements (pages 108 to
- have been independently audited by KPMG. Detailed information on the audit process and opinion is provided in
the Audit Report on pages 169 to 174.
We also obtain independent limited assurance over our greenhouse gas emissions metrics. Further details, and the Ernst & Young assurance statement, are included in our FY2021 Sustainability Supplement.
All unaudited information contained in this report has been subject to an internal review and approval process defined by our Corporate Reporting Verification Framework.
FORWARD-LOOKING
STATEMENTS
This report contains forward-looking statements, including statements of current intention, opinion and predictions regarding the Group's present and future operations, possible future events, and future financial prospects. While these statements reflect expectations at the date of this report, they are, by their nature, not certain and are susceptible to change. Orica makes no representation, assurance or guarantee as to the accuracy of or likelihood of fulfilling any such forward-looking statements (whether express or implied) and, except as required by applicable law or the ASX Listing Rules, disclaims any obligation
or undertaking to publicly update such forward-looking statements.
Reporting suite
We have been guided by the Global Reporting Initiative (GRI) Reporting Standards and report across a range of best practice environmental, social, and governance (ESG) indicators. We have aligned our reporting to the Financial Stability Board's TCFD Framework.
For the first time, we have published a standalone Climate Action Report.
Our Performance section of this report to present a more holistic and transparent view of our performance. We have also initiated the transition from pure environmental and social reporting towards integrated reporting by connecting sustainability directly with our business model and strategy.
These changes build on
the considerable progress in recent years to further embed sustainability into our business strategy, risk management and governance processes.
We always strive to do better. We want to consistently deliver value for our customers across the value chain, in a way
that is safe and sustainable. By leveraging our expertise in technology and digital solutions, we are in a unique position
to achieve this.
We have an obligation to our shareholders, and other stakeholders, to be transparent and demonstrate accountability for how we operate and our contribution to society, as well as detail how we are going to succeed in the mid to long-term energy transition.
Sustainability and value creation go hand in hand. In responding to the challenges of today
and tomorrow, our approach to sustainability continues to evolve.
02 |ORICA Annual Report 2021
Introduction and Overview Our Business Our Performance Governance and Risk Directors' Report Financial Statements Other Information
Reporting what matters
onlyEach year, we perform a materiality assessment to understand the topics that matter most to our stakeholders.
useThis year our materiality assessment was conducted to align with the IR Framework, identifying the topics that most affect, or have the potential to affect, our ability to operate successfully and to create value. The results of the assessment inform
our strategic priorities, help us to identify risks and opportunities, and focus our
reporting on what matters over the short, personalmedium, and long-term.
We engaged with internal and external stakeholders, including customers, investor
groups, and senior leaders from Orica, representing a broad range of interests
covering government and regulatory affairs, supplier relationships, community, and non-government organisation views.
Our assessment was also informed by econdary research such as broader industry and global trends.
For
ORICA Annual Report 2021 | 03
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Orica Ltd. published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 00:49:02 UTC.