The sustainability committee meets regularly to address issues, to develop and refine strategies, and to assess progress toward established sustainability goals and targets. Guided by the company’s Core Values, the committee looks for ways to improve performance in areas that impact all stakeholders, helping the board to ensure that the company meets its long-term responsibilities.
PotashCorp’s board oversees our global business, including our commitment to sustainability. The board has an obligation to act in the best long-term interests of the company and to consider the interests of all stakeholders impacted by our operations.
In carrying out its responsibilities, the board:
PotashCorp’s comprehensive governance principles, charters and other governance policies can be found here.
The following board committees ensure that all aspects of sustainability are addressed:
The compensation committee annually reviews the CEO’s performance against goals and objectives, including improvements in safety, environmental stewardship, employee development, customer service, corporate governance and improving the socio-economic well-being of the communities where we operate.
The audit committee ensures the integrity of PotashCorp’s financial statements and compliance with legal and ethical requirements, oversees major policies on risk assessment and risk management, receives regular reports on the company’s ethics and compliance activities and reviews reports on compliance matters.
The safety, health and environment (SHE) committee oversees the company’s performance against comprehensive management policies and procedures intended to ensure compliance with both the law and our own more stringent internal standards. The committee also monitors progress against our safety and environmental goals and targets, working closely with management to ensure that strategies promote a culture that prioritizes safety and environmental responsibility.
The corporate governance and nominating committee reviews our practices compared to trends and best practices in the field and nominates future directors as appropriate. The committee also reviews the corporate sustainability program and certain of its elements as part of the committee’s oversight responsibilities. This review includes sustainability issues not addressed by other committees, including social issues such as philanthropy, human rights issues and policies and economic issues that involve stakeholder relationships with customers and investors.