Orica explains silence on social issues
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The news: The chairman of mining equipment provider Orica has explained why it will not take a side on social issues, saying it would imply staff were being told how to think.
Malcolm Broomhead told the company's annual general meeting on Wednesday the multinational also wanted to avoid taking party political positions, which would not be in the company interest.
The context: Broomhead was commenting on what he described as increasing expectations that boards and management declare positions on social issues. However, he added that the company does promote minority groups and has goals to improve environmental performance.
Shareholders at the meeting were due to have their first 'say on climate' through a non-binding vote on the company's environmental performance. Orica has a short-term target to reduce net Scope 1 and 2 emissions by 30% by 2026 from 2019 levels.
Meanwhile, chief executive Sanjeev Gandhi told investors the first two months of the 2024 financial year (October and November) delivered strong results and he expected this to continue. In other news, board member Gene Tilbrook will resign and leave in February.
What they said: "We respect all of our employees as equals, and thus respect their ability to make up their own mind on social or political issues. We think it would be inappropriate for us to imply that we are telling them how to think about these matters unless they particularly impinge on Orica's own set of core values," Broomhead said.
The source: Orica
