Sustainability Governance

2022 Outcomes

As required annually under the Commonwealth Modern Slavery Act 2018, Kestrel completed its second Modern Slavery Statement in 2022 for the 2021 calendar year reporting period. The next statement is due in June 2023 for the 2022 reporting period.

In 2022, Kestrel’s ESG Strategy was developed and approved by the Board, with implementation to commence in 2023. Development of our ESG Strategy was underpinned by the proactive approach that has already been taken to adopting, implementing, and reporting on Kestrel’s ESG practices and outcomes. To guide the development of our ESG Strategy, a comprehensive process was undertaken including:

„ Interviews with senior staff across site and corporate roles

„ Benchmarking ESG performance of our industry peers

„ Review of current and emerging issues facing the resources industry

„ Listening to our neighbours, our customers, and the local community

„ Completing a desktop assessment to define our material topics

Kestrel Coal Resources operates under the guidance of a Board of Directors (the Board) which consists of ten (10) Directors with equal representation across Adaro and EMR Capital. An Operating Sub-Committee (OpCo) acts as an advisory group to the Board and meets monthly to review business performance, provide guidance to management on key business activities and provides regular updates to the Board.

The Board undertakes regular governance reviews including compliance tracking and reporting, Whistleblower registry, audit outcomes along with approval of major strategic / investment decisions and corporate targets.

Our Chief Executive Officer (CEO) reports to the Board and is responsible for delivering the sustainable performance of our business. Kestrel’s sustainability direction is determined by the CEO, approved by the Board, and documented through our ESG Strategy, Sustainability Report, Values, Code of Conduct, and Sustainability and Climate Change Policy.

Kestrel is committed to providing a workplace which fosters mutual respect, honesty and working relationships. Everyone has the right to a fair and inclusive working environment of which they are proud to be a part of. Kestrel’s Code of Conduct outlines the standard of behaviour expected by all persons working for, or on behalf of Kestrel, around:

„ Anti-bribery and Corruption

„ Human Rights and Modern Slavery

„ Data Privacy

„ Theft and Fraud

„ Discrimination, Bullying and Harassment.

This approach led to the identification of nine material ESG topics which were grouped and aligned with our four key ESG Strategy themes.

The Year Ahead

In 2023, Kestrel propose to:

„ Review and update the Modern Slavery Statement.

„ Develop a 5-year implementation plan and progressively rollout the ESG Strategy.

„ Conduct an independent third party audit of our Safety and Health Management System.

We Are Respectful

We act with honesty, integrity & aim to be the team member everyone wants to work with.

We Are Agile

We approach our work through a different lens. We do it safely & get the results few others can.

We Are Committed

Whether it’s safety, hitting our targets, caring for our people, community or environment, we’re committed to doing it right.

We Are One

We are a diverse group with varied skills working together as one team.