Virgin Australia Holdings Limited has strengthened its governance and diversity policies, including a formal target to increase female representation on the Board to 30% by 31 March 2029. The company also outlined its commitment to integrating climate considerations into its strategy, risk management, and financial planning.
Material actions and disclosures
The company has disclosed its process for evaluating the performance of the board, its committees, and individual directors. It also provided regular reporting of financial and non-financial performance to directors monthly, regardless of whether a Board meeting was scheduled.
Virgin Australia has a formal diversity policy, with measurable objectives focused on gender diversity, inclusive recruitment and progression, representation in under-represented areas, and gender pay equity outcomes. The company has also strengthened its Ethics and Compliance Management Framework (ECMF) by improving escalation and reporting pathways and embedding key policies across the organization.
Forward commitments
Virgin Australia aims to integrate climate considerations into its existing governance structures, rather than managing them separately. The company also plans to publish its 2026 Modern Slavery Statement and broader sustainability goals in the second half of calendar year 2026.
Virgin Australia’s internal audit function provided independent assurance and consulting services to strengthen the company’s risk management, internal control, and governance processes. The company also plans to continue monitoring and reporting on climate-related risks and opportunities.
Virgin Australia’s Board and committees have oversight of the company’s climate-related governance, risk management, and disclosure processes. The company aims to maintain a sound system of risk management and internal controls operating effectively.