Customer Voice @ Board
In 2019, the Energy Charter Independent Accountability Panel highlighted that the voice of the customer should be amplified at a Board level to appropriately influence strategic direction.
This approach has been reinforced more recently by broader interpretations of Board directors’ “best interests duty”. In short, acting in the best interests of the company means directors should focus on sustainable value creation over time rather than short term profit maximisation.
Taking into account the customer and community voice has never been so important.
As Energy Charter signatories we are committed to improving customer outcomes for all Australians in line with our vision “together, deliver energy for a better Australia”. Boards have a vital role to play in ensuring the customer voice is appropriately influencing the strategic decision-making and direction of our energy businesses. Across the Energy Charter signatories, boards are driving better-practice in this regard.
I trust my fellow directors will find this resource valuable in helping to drive continual improvement in boardrooms across energy sector. I also look forward to hearing about the conversations it will engender.
Kathy Hirschfeld AM
Chair, Powerlink Queensland
Customer Voice @ Board Resource
Led by the Chair of Powerlink Queensland with Board Directors from CleanCo, Horizon Power and Stanwell, the #BetterTogether Customer Voice @ Board Resource incorporates better practice options for Energy Charter signatories to consider to ensure the customer voice is appropriately influencing the strategic decision-making and direction of our energy businesses.
It has involved:
- Collaborating with the Australian Institute for Company Directors (AICD) and The Ethics Alliance
- Surveying to all Energy Charter signatories on better practice examples
- Reviewing better practice examples from other industries and overseas
- Engagement with other organisations and board members who have better practice examples
This Resource aims to augment the information already available to directors, including:
- AICD Guide to Elevating Stakeholder Voices (April 2021)
- 5 reasons directors must actively consider ethics in the boardroom (Article April 2021)
- Directors Best Interest Duty in Practice (AICD Practice Guide July 2022)