Environmental and social responsibility management
DUET believes that many social, environmental and economic benefits arise from responsible private sector development and operation of high-quality infrastructure. DUET is also aware that with these benefits lies the potential for risk, including environmental and social responsibility (ESR) risk.
DUET's approach to ESR management is set out in its board policies. These policies form part of DUET's overarching risk management framework in accordance with principle 7 of its corporate governance statement.
It is DUET's policy to ensure that it and each of its assets are in compliance with the relevant regulatory frameworks and meet or exceed the minimum standards required of it. DUET's environmental and social responsibilities are managed throughout the investment process as follows:
Asset selection - Environmental and social responsibilities are reviewed as part of the acquisition due diligence process
Ongoing asset management - Regular asset board reporting enables compliance with environmental requirements to be monitored, and environmental and social responsibility issues to be identified
Stakeholder reporting - Policies, social and environmental initiatives and compliance performance are reported internally and, where appropriate, externally.
ESR-related regulatory requirements
DUET is not aware of any material breaches of relevant environmental or social responsibility related regulatory standards by its assets during the year ended 30 June 2011.
ESR-related initiatives at DUET assets