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Responsible and ethical business practices

Adopting responsible business practices

Our stakeholders have growing expectations about how we manage our supplier partnerships, minimise our impact on the environment and continue to be a respected corporate citizen.

ASX takes its responsibility as a corporate citizen seriously. We are committed to doing the right thing by all our stakeholders and the community in which we operate. We believe this is more than just managing our business in accordance with all applicable laws and regulations. It also includes being ethical and responsible in how we conduct ASX’s operations.

Building supplier partnerships

We actively manage our supplier relationships with a view to our supply chain being cost-effective, innovative, risk-managed, sustainable, fair and ethical.

Supplier relationships

We seek to work with suppliers who share our commitment to fostering responsible practices across all aspects of their business. Material suppliers are required to comply with ASX’s Supplier Code of Conduct. ASX's Supplier Code of Conduct sets minimum standards across a range of topics including labour and human rights, diversity and inclusion, health and safety, environment and sustainability.

Our primary supply chain includes the manufacture, delivery, installation and maintenance of the technology required to operate our infrastructure and provide our services. Our supply chain also includes the suppliers of the various goods and services that contribute to our general operation. These include our property agents, insurance providers, external consultants, the companies that provide our kitchen and stationery supplies, the manufacturers of ASX uniforms and apparel, and our security providers.

During the reporting period, our global supply chain numbered approximately 600 direct suppliers from a total of 17 countries, comprising Australia, Belgium, Canada, China, the Czech Republic, England, Hong Kong, Ireland, Israel, Luxembourg, New Zealand, the Philippines, Singapore, South Africa, Sweden, Switzerland and the USA.

A new Modern Slavery Policy

During the year, ASX introduced a Board-approved Modern Slavery Policy. The policy articulates ASX’s commitment to identifying and addressing risks of modern slavery occurring in ASX’s supply chain.

In FY20, we undertook an analysis of the extent and nature of modern slavery disclosures for 220 of ASX's suppliers as part of assessing the risk of modern slavery in ASX’s supply chain.

Included within the 220 were our critical service providers and those considered key to the functioning of our business. Of the sample of suppliers investigated, approximately 42% were found in ASX’s view to have made satisfactory disclosures of their modern slavery risks through the publication of either a UK Modern Slavery Statement or USA Human Trafficking Statement. ASX is following up with those suppliers who had no or insufficient disclosures about their modern slavery risks and actions, with a view to assessing and addressing any such risks.

As part of ASX’s commitment to the policy and as required under Australian modern slavery legislation, each year we will strive to improve how we manage risk in our supply chain. As captured in ASX’s 2020 Modern Slavery Statement, in the next 12 months, we will commence a review of suppliers not assessed in FY20 and enhance, for example, staff training materials so that ASX can improve its understanding of its material suppliers and potential modern slavery risks.

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Tax transparency

As a responsible corporate citizen, ASX believes in paying its fair share of tax. We are a signatory to the voluntary Tax Transparency Code issued by the Australian Government Board of Taxation. Each year we release our Tax Transparency Report as part of the suite of annual reporting documents published on ASX’s website.

Tax is an important sub-segment of ASX’s robust corporate governance and risk management framework. We take a low risk strategy to managing our tax position by meeting all our taxation obligations, adopting a conservative approach to the interpretation of applicable legislation, seeking professional third party advice when the potential taxation outcome is unknown, and not entering into transactions or structures that have the primary objective of reducing tax liabilities.

In FY20, ASX’s total tax contribution was $357.0 million.

ASX and climate change

As a technology-based infrastructure and services company we do not believe ASX has a material exposure to climate change risks. 

FY20 environmental outcomes

Electricity and paper usageFY19FY20% change from prior year
Electricity GHG1 emission (excluding) ASX's data centre hosting) per $1000 of revenue generated0.00970.0087-10%
(in t CO2 -e2)   
Paper usage (excluding CHESS statements and notifications) by headcount (tonnes)0.01250.0077-38%
1Greenhouse gas (GHG) emissions
2Tonnes of carbon dioxide equivalent		   
Greenhouse gas (GHG) emissionsUnit201820192020% change from prior year
Scope 1 - diesel and gas1t CO2 -e44.7129.5630.122%
Scope 2 - electricityt CO2 -e14,33015,06514,762-2%
GHG emissions by activityUnit201820192020% change from prior year
Scope 1 - combustion of diesel and gas1t CO2 -e4030302%
Scope 2 - electricity (data centre hosting)
               - electricity (remainder of ASX's business)		t CO2 -e
t CO2 -e
10,031
4,299
 		10,546
4,520		10,334
4,429		-2%
-2%
Scope 3 - travel (business travel and commuting)
 - paper usage (office)
 - Paper usage (CHESS statements and notifications)		t CO2 -e
t CO2 -e
t CO2 -e		660
0
0		758
0
0		514
0.12
0		-32%
N/A
0
Paper usageUnit201820192020% change from prior year
Office usetonnes6.808.125.46-33%
CHESS statements and notificationstonnes797710334%
1In FY20 this calculation has been updated to more accurately reflect actual emissions during the period. Past years have also been updated for consistency.
2GHG emissions reported are inclusive of carbon offset. ASX commenced using 100% carbon neutral paper in 2015.