Environmental, Social and Governance
Macquarie acknowledges that Work Health and Safety (WHS) risks are inherent in our investments and recognises, supports, and promotes the right of every worker to return home safely from their workplace. We have zero tolerance for loss of life or serious injuries or illnesses sustained in, or resulting from, the work environment, as set out in our WHS Policy.
Our WHS vision, “Safe workplaces which enable and empower people to do their best work”, is designed in connection with Our Purpose to empower people to invest and innovate for a better future. Our strong culture of leadership, governance and assurance is integral in how we bring this vision alive.
Macquarie has integrated WHS into the investment lifecycle from due diligence prior to investment through to divestment. We believe there is a strong correlation between actively managing WHS risk and improving investment returns.
Our approach acknowledges that it is the responsibility of the management teams within each of our investments to manage WHS risks and Macquarie plays a key role to support the management teams in achieving the WHS objectives for the business.
Prior to making an investment, we seek to identify material WHS risks relevant to the investment. If required, we will perform detailed due diligence which is supported by our internal subject matter experts and/or external advisors.
The due diligence results inform the transition plan for the investment. Prior to making the investment, the due diligence results and transition plan are presented for consideration and approval to the applicable investment committee(s).
During the 1st year of investment, we focus on closing out the action items in the transition plan and assure a strong WHS governance set-up is in place at the investment including (but not limited) WHS reporting and regular WHS assurance.
In our investments, we aim to reduce WHS risk and improve performance, increasing the value of the company or project. Macquarie Operating Groups have tailored Safety Alignment Frameworks to drive consistent WHS principles and expectations for portfolio companies.
WHS is the responsibility of management within each portfolio company. The portfolio company board oversees the management of WHS, with Macquarie Nominee Directors receiving regular training on WHS governance. Portfolio companies regularly monitor and report on WHS performance and risk management to Macquarie, including outcomes of incident investigations where there was a fatality or serious injury, or the potential for a fatality or serious injury.
WHS remains a continual focus during divestment, including through the preparation and disclosure of information on WHS performance and management.