This report presents the findings of our research into ASX200 health and safety disclosures and introduces a guide to promote better health and safety reporting. The guide was developed following interviews with ASX200 health and safety executives and independent health and safety experts, consultation with investors, and analysis of current health and safety reporting across the ASX200.
Key findings:
- 34 per cent of ASX200 companies did not disclose any health and safety information.
- Information on fatalities was often difficult for investors to find. There is no requirement to report fatalities publicly or in a consistent way.
- Contractors were over-represented in fatalities (16 of the 23 reported deaths in 2018) but not always included in public reporting.
- Reporting on the severity of incidents was limited, which makes it difficult for investors to assess their materiality. Only 14 companies reported a severity indicator publicly.
- Only 17 companies reported information on occupational health.
- Company remuneration reports often fail to explain in adequate detail the link between safety performance and executive pay.
- There were inconsistencies in calculation methodologies, definitions and reporting boundaries. This is understandable as companies adapt reporting to fit their own businesses. However, clarity of reporting could be improved.
- Some companies had limited qualitative disclosure on material health and safety risk profile and the effectiveness of risk management approach.
- Some companies reported initiatives on mental health, but efforts appeared to be in early stages and were not always focused on the cause of mental health risk.
