Communities & Relationships
Community contribution by program area
Overall community contributions for FY21 were $5.2 million. During FY21, we made improvements to the way in which we account for community contributions, to provide further alignment with the Business for Societal Impact’s (B4Si) framework, a recognised global standard for measuring and managing social impact. Aspects of the Energy Literacy Program as well as the value of Defence Force and Emergency Services volunteering undertaken by our employees have been included in the FY21 data following improvements made to the processes for identifying and gathering social investment data across the organisation. Around $1.6 million of management costs are also included, which have not been accounted for in prior years.
Amounts reported under 'Employee Giving and fundraising events' represent AGL Energy's matched funding only, not the donations given by employees. Matched amounts are included in the year in which the employee donations were made (though the matched payment may have been made after the close of the financial year).
A community fund is a set amount of investment in a specific community in which AGL Energy operates. Funds include amounts disbursed through grant programs allocated through a publicly advertised expression of interest process which is open to all organisations and associations operating within the community which meet a specific set of criteria. Community funds may include ad-hoc sponsorships or donations (cash or in-kind) that occur throughout the year and outside of an advertised community grant round.
Prior to FY21, naming rights retail sponsorships were included however from FY21 they are no longer included to provide greater alignment with the B4Si framework.
FY21 data includes management costs in line with B4Si guidance. Management costs have not been included in prior years. In FY21 management costs were approximately $1.6m.
FY21 data includes investments accrued in the financial year.