Transurban is committed to best-practice corporate governance, transparency and accountability. This is essential for the long-term performance and sustainability of the business, and to protect and enhance the interests of our stakeholders.
All Transurban employees – executives, managers and team members – share the same set of expectations and performance indicators relating to Transurban’s business, safety, values and workplace culture. Our annual Employee Opinion Survey provides information on employees and leadership. The survey allows us to gather anonymous employee feedback on how well Transurban’s leaders are performing in areas such as:
- Listening and responding to ideas and concerns
- Treating others with respect
- Keeping commitments
- Maintaining trust
- Giving regular feedback that helps improve performance
- Acting as models for Transurban’s core values
This year, our survey resulted in a Leadership Effectiveness Index of 82 per cent, a rating significantly higher than the global norm and in line with the best-in-class norm (top 25 per cent of organisations). This result demonstrates the effectiveness of Transurban’s leadership and leadership development and our success at building a positive workplace culture.
In FY17, we achieved Payment Card Industry Data Security Standard (PCI DSS) compliance for our Australian operations. The comprehensive compliance process is mandated by the PCI DSS Council and has included validation by a professional independent assessor. We also have a structure and accompanying processes in place to ensure we continue to be compliant.
All employees complete annual mandatory training on our Privacy and Information Security policy and procedures to ensure we remain compliant with our obligations.
Code of conduct
Transurban’s Code of Conduct guides all employees in making decisions consistent with our values and our overall business approach. Our Code of Conduct is supported by a suite of policies addressing governance, equal opportunity, ethical conduct, anti-corruption, workplace health and safety, and privacy. We also provide Code of Conduct training for our employees.
Our ethical business practices and whistleblower policies outline our zero-tolerance position on fraud, corruption, bribery and other unethical business practices. Employees also have access to an external whistleblower service, providing a safe and anonymous option for employees wishing to report any unethical practices.
All employees complete mandatory training on our Code of Conduct and Ethical Business Practices – as well as regular refresher courses – to ensure Transurban employees understand these policies and their responsibilities.
Political function attendance
Transurban participates in public policy debate on issues relevant to our business. Accordingly, group policies permit payment for attending political functions to engage in such debate and discussion.
In FY17, we paid $62,850 to attend political functions in Australia, and US $97,000 to attend political functions in the USA.
Each year, Transurban voluntarily discloses these payments through this Sustainability Report and in accordance with political disclosure obligations, we report annually to the relevant state and federal electoral commissions.
Corporate tax profile
As an infrastructure business, we invest heavily in building new roads, upgrading our existing roads and buying other roads when it makes sense to do so. Since 1999, approximately $31 billion10 has been invested to develop Transurban’s roads.
The significant investment associated with new projects can, for a period of time, offset the profits derived from more mature projects. Transurban bears these up-front costs with the view to generating a return on investments in the future. The size of these up-front investments mean Transurban can wait many years before a road matures enough to deliver positive returns. This delay leads to loss generation in accounting and tax losses.
Transurban is structured as a stapled entity to enable distributions to be paid to investors through a trust. Our corporate structure enables the payment of distributions to investors while we are generating accounting and tax losses. The distributions are subject to tax in the hands of investors.
The Australian Tax Office has categorised our main corporate entity, Transurban Holdings Limited, as a lower consequence taxpayer. We adopted the Australian Government’s voluntary Tax Transparency Code in 2016. In April 2017, Transurban published its Tax Transparency Report as required under the Tax Transparency Code.
More information about Transurban’s corporate tax profile is available on our website.
Transurban is a member of a range of business, industry and sustainability groups, including:
- Committee for Economic Development of Australia
- Infrastructure Partnerships Australia
- Infrastructure Sustainability Council of Australia
- Intelligent Transport Systems Australia
- Roads Australia
- Business Council of Australia
- Diversity Council of Australia
- Chief Executive Women
- Chief Customer Officer Forum Australia
- Corporate Executive Board – Customer Contact Leadership Council
- Customer Service Institute of Australia
- The Association for the Improvement of American Infrastructure
- American Highway Users Alliance
- American Road and Transportation Builders Association
- The Brookings Institution
- The Eno Center for Transportation
- International Bridge, Tunnel and Turnpike Association
- Intelligent Transportation Society of America
- Intelligent Transportation Society of Virginia
- National Association of Counties
- National Council of State Legislatures
- Northern Virginia Transportation Alliance
- Reason Foundation
- Women’s Transportation Seminar - DC
- Women’s Transportation Seminar – International
In all areas of operation in both Australia and the USA, we are also members of a range of local and state chambers of commerce, trade and transportation associations.
Transurban’s achievements in corporate sustainability, infrastructure delivery, workforce diversity and community contribution were recognised with the following awards for FY17:
- Australian Centre for Corporate Social Responsibility - State of CSR Australian Top 10 2017
- Dow Jones Sustainability Index - DJSI World Index member, reflecting our top 10 per cent sustainability rating among international listed organisations. Rated second highest in the Transport and Transportation Infrastructure sector.
- Global Real Estate Sustainability Benchmark Infrastructure (GRESB) - Highest rated transportation company globally and second highest rated infrastructure company globally
Sustainable infrastructure delivery
- Infrastructure Sustainability Council of Australia - Leading Infrastructure Sustainability Rating for the NorthConnex project in NSW
- Infrastructure Sustainability Council of Australia - Excellent Infrastructure Sustainability Rating for the CityLink Tullamarine Widening project in Victoria
- Infrastructure Sustainability Council of Australia - Excellent Infrastructure Sustainability Rating for the Gateway Upgrade North
- Bulimba Creek Catchment Coordinating Committee - Road Ecology award for the Logan Enhancement project in QLD. This award recognised Transurban’s contribution to providing improved options for fauna movement (such as new crossings, fencing, and refuge poles) across the Logan and Gateway Extension motorways
- National Association for Industrial and Office Parks (NAIOP) Northern Virginia - Award of Excellence for Best Interiors for our new office space in Tysons, Virginia
- Workplace Gender Equality Agency - Named an Employer of Choice for Gender Equality for the third year running
- Engineers Australia - Most Ambitious Company in Gender Diversity award, recognising excellence in encouraging engineering gender diversity
- Intelligent Transport Systems World Congress - Best Action for supporting Diversity in the ITS Workforce award
- Equileap Gender Equality Global Ranking - Earned a top-20 global ranking for gender equality. Further, Transurban is one of only six top-200 companies for gender equality with no significant gender pay gap
- Human Resources Director magazine - Innovative HR Teams 2017 award, highlighting the development of our Communities of Practice employee collaboration model
- Melbourne Awards - Contribution to Community by a Corporation award in recognition of the contribution the Run for the Kids event has made to the Royal Children’s Hospital Good Friday Appeal for over a decade
- International Association of Business Communicators - Gold Quill Excellence award for community engagement for West Gate Tunnel Project
10) Total construction costs since inception. Includes projects on which we have reached financial close but have not reached practical completion.