by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
GRC Professional : GRC Summer 2012
Australia says that the ash fallout from volcanoes in Iceland and Chile reinforce to us that nature will have its own way. “Risk management work and business continuity planning can sometimes only be about recovery after risk events and the minimisation of loss – not about avoidance of the event,” he says. Meanwhile, fallout from the Qantas industrial dispute continues. Although Qantas CEO Alan Joyce has proven to be a tough handler when it comes to unions, the ethical issue of grounding the Qantas fleet has been hotly debated. David Bradbury, Parliamentary Secretary to the Treasury, said during a speech at the Macquarie Securities Annual ESG (Environmental, Social and Corporate Governance) Conference in Sydney recently that, although Qantas has been the subject of much debate, there is still affection for the airline. He went on to say that Qantas obviously prides itself on its alignment with the needs of its customers and its engagement and support of its employees, and that it even won an award for best ESG disclosure by an Australasian company at the 2010 Australasian Investor Relations Association. “That is why the past few months of industrial tension and the dramatic decision to ground the entire airline and strand tens of thousands of passengers has come as a shock to many. This is particularly so when the grounding of the airline came just days after the company’s AGM,” Bradbury stated. “Events like these raise questions about whether a company has a genuine commitment to good corporate citizenship or whether its ESG reporting is simply paying lip service to the notion.” Qantas would also be under pressure from many tourism operators and Tourism Australia in particular who are keen to justify their $44 million partnership with Qantas. ••• Risk management work and business continuity planning can sometimes only be about recovery after risk events and the minimisation of loss – not about avoidance of the event. 17
GRC Spring 2011
GRC Autumn 2012