Woolies Financial Report

Integrating sustainability into business practices: a case study approach

Woolworths

Facts and figures

Type of organisation Industry Turnover (2010) Head office Operations Employees No. of travellers p.a Publicly listed company Food and staples retailing A$51.7 billion Sydney Australia, New Zealand 188,000 3,199

Governance and strategy Woolworths Limited (Woolworths) was established in Sydney in 1924 as Woolworths Stupendous Bargain Basement. It grew nationally and into New Zealand both organically and through acquisition, and was listed on the ASX in 1993 under the ticker WOW. From the outset, Woolworth’s values focused on ‘integrity, trust and accountability’, and so the foundations for sustainable business practices were in place from the start. Woolworths established a strong governance framework around its sustainability strategy.

Awards

Woolworths has won many awards, including:

 2008, 2010 Leadership award (Australian Food & Grocery Council)  2008, 2009 Sustainability Reporting award (ACCA)  2009, 2010 Banksia finalist (large business sustainability award category)

Board oversight The Board has ultimate responsibility for governance over the sustainability agenda. There is a Board People Policy Committee, as well as a CEO led Safety and Health Executive Committee, which deals with health and safety performance and issues. The Group Manager Sustainability reports to the Board on a monthly basis on Woolworths’ overall performance against the sustainability targets as well as on regulatory

Integrating sustainability into business practices: a case study approach - May 2011 Case: Woolworths 1

and policy changes, developing risks and opportunities. More formal presentations are made quarterly to the Board on performance against the key Sustainability Strategy KPIs, emerging issues and related impact on Brand and Reputation. Visible CEO leadership The key driver of the Sustainability Strategy is the Sustainability Executive Committee...