Ethical and responsible behaviour
Wesfarmers’ primary objective is to deliver satisfactory returns to shareholders through financial discipline and exceptional management of a diversified portfolio of businesses. The Wesfarmers Way is the framework for the company’s business model and comprises its values of integrity, openness, accountability and entrepreneurial spirit, details of which are published on the company’s website at www.wesfarmers.com.au.
Wesfarmers believes it is only possible to achieve this objective over the long term by:
- anticipating the needs of customers and delivering competitive goods and services;
- looking after team members and providing a safe, fulfilling work environment;
- engaging fairly with suppliers and sourcing ethically and sustainably;
- supporting the communities in which the Group operates;
- taking care of the environment; and
- acting with integrity and honesty in all of the Group’s dealings.
The Wesfarmers Way, together with the Code of Conduct and other policies, guide the behaviour of everyone who works at or for Wesfarmers as the company strives to achieve its primary objective. The Board and senior executives of the Group strive to ensure that their own actions and decisions reference and reinforce Wesfarmers’ values and that they instill and reinforce a culture of acting lawfully, ethically and responsibly.
The Board carries out its duties having regard to these values, the Board Charter and the Group’s Code of Conduct and other policies which are available in the corporate governance section of the company’s website at www.wesfarmers.com.au/cg.
The Board regularly reviews these policies to ensure that they continue to reflect Wesfarmers’ values and the standard of behaviour expected of its people. Ensuring that directors, senior executives, divisional managers, employees and other personnel of Wesfarmers behave consistently with Wesfarmers’ values also involves calling out and reporting conduct which is inconsistent with those values. The Audit and Risk Committee oversees the policies and frameworks for the reporting of incidents and issues to the appropriate members of the senior management team, Corporate Office and/or the Board.
See page 13 of the 2020 Corporate Governance Statement for more details.