Forrestania Resources has updated its Corporate Governance and Diversity Policy, outlining its commitment to ethical business practices and workforce diversity. The company has disclosed its values and a code of conduct for directors, senior executives, and employees, ensuring adherence to legal and ethical standards. Additionally, the company has a whistleblower policy and an anti-bribery and corruption policy, both of which are regularly reviewed by the board or a committee of the board.
Material actions and disclosures
The company has a diversity policy in place, which aims to create a work environment that values and utilises the contributions of employees with diverse backgrounds, experiences, and perspectives. However, the board believes it is not appropriate to set measurable objectives for achieving gender diversity at this time due to the company’s scale of activities and relatively small number of employees.
Forrestania Resources also discloses the percentage of women employed within the whole organisation, in senior management positions, and at the board level. As of the latest disclosure, 34% of the workforce are women, with no women in senior management positions and 20% of the board being women.
The company has a performance evaluation policy in place, which assesses the performance of the board, the executive chair, and senior executives on a regular basis. However, there is currently no formal annual performance appraisal system in place for board performance on a director-by-director basis.
Forward commitments
Forrestania Resources plans to establish a separate audit and risk committee and a remuneration committee at an appropriate time in the future, as the company’s scale and complexity increase.
The company also aims to continue monitoring its risk management and internal control systems to ensure they are operating effectively.
These updates reflect the company’s ongoing commitment to governance and ethical business practices, as well as its efforts to foster a diverse and inclusive work environment.