Working with our customers, investors, non-profits and the community to create a better tomorrow for everyone.
2015 community report
Contents 1 OurCEO’swelcome2 Ourgoal:tohelppeopleowntomorrow4 Ourapproachtoinvestment6 Ourenvironmentalperformance10 Ourpeople14 Ourworkinthecommunity16 Ourcommunitypartners18 Ourcommunityprogram20 AMP’sTomorrowFund
AMP Limited ABN 49 079 354 519Unless otherwise specified, all amounts are in Australian dollars. Information in this report is current as at March 2016.
4.4mcustomersinAustraliaandNZwerehelpedbyAMPadvice,productsandservices
$4.8minfundsweredistributedtothecommunitybytheAMPFoundation
9%greenhousegasreduction(year-on-year)wasachievedbyacarbon-neutralAMP
In 2015...
AMP 2015 community report 1
Weworkwithcustomers,shareholders,non-profits,government,ourpeersandthewidercommunitytobuildamoreprosperousandequitablesociety.
Since1849,AMPhashelpedmillionsofAustraliansandNewZealandersachievetheirfinancialgoals:beittoprotecttheirfamily,payofftheirhomeorretireright.Believingtheseveryhumanaspirationsshouldbewithineveryone’sreach,wemustensureouroffersandsolutionsarerelevantandaccessible.Inrecentyearswehaveintroducednewtechnology,onlineresourcesandworkpracticestomakeiteasierforpeopletonavigatelife’stwistsandturns,andreachtheirgoals.
Webelieveinsharingourknowledge.In2015,AMPpublishedtworeportswiththeNationalCentreforSocialandEconomicModelling(NATSEM)onhouseholddebtandourageingpopulation’scapacitytowork–atopicfurtherexploredatanAMPsummit.
WealsopartneredwithGriffithUniversitytolaunchtheHorizonsAdviserAcademycourse.Itwasafurthersteponourjourneytoliftconfidenceinthefinancialadviceindustry.Onanotherpositivenote,AMP’sprobonofinancialadviceprogramexpandedin2015,helpingouradviserstoeasetheburdenonpeopleaffectedbycancer.
Totrulyserveourdiversecommunity,wemustunderstandit.Thisiswhywearecommittedtocreatinganinclusiveculture–onethatenablesustotapintodifferentperspectives.Wemadegreatprogressin2015,beingnamedWorkplaceGenderEqualityAgencyEmployerofChoiceinrecognitionofoureffortstoputmenandwomenonanequalfooting.
Wewantourpeopletoflourish,physicallyandmentally.Withitsflexiblespaces,sit-to-standdesksandmobileconnectivity,therefurbishmentprojectrollingoutatAMP’slandmarkheadquartersisencouraginghealthier,morecollaborativewaysofworking.Incorporatingenergy-efficienttechnology,LEDlightsandbettere-wastestreams,itisalreadyreducingourcarbonfootprint.
Environmental,aswellassocialandcorporategovernancefactors,guidehowweinvestthroughAMPCapital.Withasolidhistoryofsocialinfrastructureinvestment,AMPCapitaliswellplacedtoraisethecorporateresponsibilitybarandinfluencebetteroutcomesforshareholders,investorsandthecommunity.
Ourpeoplealsoinvestinthecommunity,withsupportfromtheAMPFoundation.In2015,ourphilanthropicarmhelpedAMPemployeesvolunteertheirtimeand
skills.Italsofacilitatedpayrollgivingandmatchedourpeople’sfundraisingefforts.
Allup,theAMPFoundationinvested$4.8millioninthecommunityin2015.MuchofthiswasdirectedtoeducationalprogramsforAboriginalstudents,buttheFoundationalsostrengthenedthenon-profitsectorbysupportingSocialVenturesAustraliaandTheFundingNetwork,andsharingitsinsightsintobestpracticeinphilanthropicgiving.
AnotherAMPFoundationinitiativetoppedoff2015.InNovember,AMP’sTomorrowFundawarded$1millioningrantstohelp42amazingAustralians–fromartiststoathletes,scientiststosocialinnovators–dogreatthings.Soonafter,AMPpresentedscholarshipsto18equallyincredibleNewZealanders.Whiletheserecipientsallhaveverydifferentinterests,likeAMP,theyareallstrivingtocreateabettertomorrowforeveryone.
Craig MellerChiefExecutiveOfficer
Our CEO’s welcomeAMP wants to give everyone in the community the best chance to own their tomorrow.
AMP 2015 community report2
Our goal: to help people own tomorrow
Webelievethathelpingourcustomersachievetheirgoalsstartswiththemhavinggreatercontrolovertheirfinancialwellbeing.Wehelpthemdothisbysharingourexpertiseandprovidingproductsandservicesincluding:– financialadvice– superannuation,retirement
incomeandinvestmentproducts– administration,bankingand
investmentservicesforself-managedsuperfunds(SMSFs)
– incomeprotection,disabilityandlifeinsurance
– bankingproducts,includingmortgages– investmentssuchasshares,fixed
income,propertyandinfrastructure.
Since2013,wehavebeenundertakingacomprehensiveprogramtore-orientourbusinesstocentreoncustomers.Thisapproachwillenableustohelpmorepeopletoachievetheirgoals.
In2015,wefocusedon:– creatinganinnovativeface-to-face
adviceexperiencefocusedoncustomergoals
– deliveringanintegratedbankingandwealthdigitalexperienceforourcustomersonourwebsiteandmobileandtabletapps
– improvingourcustomeranddataanalyticscapabilitiestohelpusconnectourcustomerswithproductsandserviceswhichwillhelpthemachievetheirgoals
– implementingasystemtoimprovetheexperienceofourcustomers
– improvingthewaywecanhelpcustomerswhentheyneedtomakeaclaimontheinsurancetheyhavewithAMP.
Awards and accolades In2015,severalAMPproductsandserviceswererecognisedfortheirqualityandvalue.
AMP Bank wonMozo’sExperts’ChoiceAwardforPersonalSavingsAccountIntroductionBonusRateandtheCanstargoldawardforOutstandingValueSaverAccount.
AMP SMSF Solutionswasnamed2015RainmakerSelectingSuperSMSFProvider
oftheYear;SuperIQwonSMSFAdviser‘Administrator:SuperConcepts’;AMPSuperSignaturewonSuperReviewAwardsSuperoftheYearandBestCommercialFund.
AMP ElevatewontheCanstarOutstandingValue–TermLifeInsuranceAwardandtheFinancialReviewSmartInvestorBlueRibbonAwardsLifeCompanyoftheYear.
Sharing our knowledge AMPwantstotakethemysteryoutofmanagingmoney–tomakethecomplexsimple.Wedothisbygivingpeopletheknow-howandtoolstotakecontroloftheirfinances.
OurQ&websiteprovidesanswerstofinancialquestions,whileamp.com.auhasbudgetplanners,debt-reductioncalculatorsandrelevantnews.
AMPalsosharesourknowledgeatevents.InJune,wehostedTheNewOldsummitwherespeakers,includingAMPCapital’sChiefEconomistShaneOliverandAgeandDisabilityCommissioner
AMP’s purpose is to help people own tomorrow by supporting them to achieve their goals, aspirations and dreams. By doing this, we can help build stronger communities.
AMP 2015 community report 3
SusanRyanAO,bustedmythsabouttheageingpopulation’seconomicimpactandcapacitytowork.
Thatmonth,AMPwaspartoftheIndigenousSuperannuationSummitinMelbourneandwentontojoinTheIndigenousSuperannuationWorkingGroup–anindustry-ledgroupaimingtobuildbettersuperoutcomesforAboriginalAustralians.
WealsomadesubmissionstotheFederalGovernment’sFinancialSystemInquiry,areviewofretirementincomestreams,theTaxWhitePaperprocessandmanyotherreformprocessesthataredesignedtoincreasethestandardoflivingofAustraliansinretirement.
Relevant research Everyyearsince2002,AMPandtheNationalCentreforSocialandEconomicModelling(NATSEM)haveproducedreportsthatopenwindowsonAustralians’financialandpersonalaspirations.TwoAMP.NATSEMreportswerereleasedin2015.‘Goingthedistance:workinglonger,
livinghealthier’predictedthatby2035oneinfourmenandoneinfivewomenintheirsixtieswillnotbehealthyenoughtoworkuntil70.InDecember,‘Buynow,paylater:HouseholddebtinAustralia’foundAustralianhouseholdsnowowefourtimesasmuchastheydidin1988.
Eachquarter,AMPalsoreleasesinsightsandtrendsontheinvestmentbehavioursofSMSFtrusteesaspartofitsMultiportSMSFInvestmentPatternsSurvey.
Better adviceInrecentyears,AMPhasimplementedseveralmeasurestoraisethestandardandreputationofthefinancialadviceindustry.
WesetuptheAMPCustomerReviewPaneltoreviewcomplaintsaboutouradvice,whenthecustomerisnotsatisfiedwithourusualprocess.IndependentlychairedbyformerASICdeputychairBelindaGibson,thepanelhasthepowertorefundthecostofadviceandcompensateforlosses.
AMPalsoteamedupwithGriffithUniversitytoredesignouradviser
educationpathway.IncludingflexiblestudyoptionsandtimeworkinginanAMP-alignedfinancialadvicepractice,thenewAdviserAcademycourseisdeliveredbyGriffithUniversitythroughoureducationhub,AMPHorizons.
Thisfollowedonfromour2014initiatives,includingsettingminimumadvisereducationrequirements(allmusthavepostgraduatequalificationsby2019)andpartneringwiththeStJamesEthicsCentretodevelopandlauncharesponsibledecision-makingprogramforadvisers.
In2015,wealsopartneredwiththeSMSFAssociationtolaunchanewSMSFeducationandaccreditationprogramforAMP-alignedadvisersandtheirstaff.Builtonourface-to-faceSMSFspecialistcourse,theprogramincludestheSMSFAssociationAccreditationexam.
8,603 peoplewerehelpedbyAMPBanktobuyhomes
$1.1b ininsurancepaymentshelpedourcustomers
$2.2b inpensionpaymentshelpedourcustomersinretirement
In 2015…
TostayuptodatewithAMP’slatestoffers,newsandinsightsvisitamp.com.au
AMP 2015 community report4
Weunderstandthereisaclearlinkbetweenanorganisation’senvironmentalandsocialimpacts,ethicalpracticesandqualityofitscorporategovernanceanditslong-termbusinesssuccess.
Assessingtheenvironmental,socialandgovernance(ESG)factorsthatcanaffectaninvestmentisanintegralpartofAMPCapital’sinvestmentprocess.ThekeymotivationforconsideringESGissuesistogaindeeperinsightintoareasofriskandopportunitythatcouldimpactthevalueorperformanceofaninvestment.
WellbeforebecomingoneofAustralia’sfirstsignatoriestothePrinciplesforResponsibleInvestmentin2007,AMPCapitaldedicatedspecificresourcestounderstandingtheimpactofESGfactors.
AMPCapital’sin-houseESGinvestment
researchteamproducesproprietaryandthought-leadingresearch,whichisintegratedintoAMPCapital’sinvestmentdecision-makingandactiveownershippractices,acrossallassetclasses.Theteam’sESGinsightsandcompanyratingsinfluenceinvestmentguidelinesandpolicies,researchandanalysis,proxyvotingactivitiesandengagementwithcompanyboardsandmanagementteams.
TheAMPCapitalESGInvestmentResearchTeammakessummariesofitsresearchpublicviatheAMPCapitalwebsite.
ItisimportanttoAMPCapitalthatcompaniesselectedforclients’portfoliosarewell-governed.ThisiswhyAMPCapitalactivelyengageswiththeboardsandmanagementteamsofcompaniesandusesitsvotingpowertoencouragecorporatebehaviourthatisresponsible
andinthebestinterestofshareholders.ThroughthisengagementAMPCapitalencouragessounddecision-makingandrisk-management,appropriatecapitalallocation,goodboardcomposition,fairremunerationandopenandhonestdisclosure.
AMPCapital’scommitmenttoESGresearchiswellrecognisedinthesector.Assuch,theESGteamhashadtheopportunitytoworkwithcompaniesonarangeofissuesandinfluencebetteroutcomesforinvestors,shareholdersandtheAustraliancommunity.
AMPisalsoaconstituentoftheFTSE4GoodIndex,aseriesofethicalinvestmentstockmarketindicesthat,bycontinuallyraisingthecorporateresponsibilitybar,encouragesustoimproveourESGperformance.
Our approach to investment
As one of the most experienced managers of responsible investment funds in Australia, AMP Capital is well placed to influence better outcomes for investors, shareholders and the community.
Assessing the environmental, social and governance (ESG) factors that can affect an investment is an integral part of AMP Capital’s investment process
AMP 2015 community report 5
Our investment in infrastructure SinceitspioneeringinvestmentintheSydneyHarbourTunnelbackin1988,AMPCapitalhasprovidedvitalinfrastructuretocommunitiesacrosstheglobe.
InAustralia,AMPCapitalmanagesaninterestinInterlinkRoads,theownerandoperatoroftheM5SouthWesttollroadinSydney.Connectingthecity’ssouthwestwithPortBotany,SydneyAirportandtheCBD,thisroadisanimportantdriverofeconomicactivity.
AlsoinSydney,AMPCapitalinvestsinRelianceRail,whichmanufacturesandmaintainsthecity’snewWaratahtrains.Thisfleetisdesignedtoprovidethepublicwithimprovedsecurity,safetyandaccessibility.
AMPCapitalalsomanagesoneofAustralia’spre-eminentpublic-privatepartnershipinfrastructurefunds–theAMPCapitalCommunityInfrastructureFund.Thefundhasamandatetoinvest
insocialinfrastructureassetsacrosshealthcare,education,justice,defence,communityhousing,transport,waterandrecreationalfacilities.
ThroughitsCommunityInfrastructureFund,AMPCapitalhasinvestedin36publicschoolsinVictoria,Queensland,NewSouthWalesandSouthAustralia.InVictoria,thisinvestmentincludesYMCAsonsixoftheschoolsites,whichplayavitalrolewithintheirgrowingcommunities.
In2015,thefundmadeasignificantinvestmentintheRoyalNorthShoreHospital.AMPCapitalwillprovidethefacilitiesmanagementserviceswhileNSWHealthwillcontinuetodeliverallclinicalservicesatthehospital.
AMPCapitalalsoinvestsincaringforelderlyAustralians,throughitsOpalSpecialistAgedCarebusiness.In2015,OpalopenedtworedevelopedhomesinNewSouthWales:oneinDenham’sBeachontheSouthCoastandanotherinOrange.Theseprojectsadded95bedsforelderlypeople.AlsoinNewSouthWales,Opalopenedanew144-bedhomeatRutherfordintheHunterValley.Italsoacquiredtwoportfolios:theAquariusAgedCareGroupofninehomesinNewSouthWalesandQueensland,andtheStIvesGroup,whichhastwohomesinWesternAustralia.
AMPCapitalisalsothemarketleaderinon-campusstudentaccommodation.
27,440studentcapacitywasrecordedatAMPCapital-fundedschools
6,200 bedswereprovidedforelderlyAustraliansthroughAMPCapital’sagedcareportfolio
In 2015…
FormoreinformationonAMPCapital’sapproachtoESGandresponsibleinvestmentvisitampcapital.com.au/about-us/esg-and-responsible-investment
36 schoolswerefundedundertheAMPCapitalCommunityInfrastructureFund
AMP 2015 community report6
Asaninsurerandinvestor,soundenvironmentalmanagementalsomakesbusinesssenseforAMP.WeassessourenvironmentalrisksandopportunitiesacrossthebusinessandinvestmentsmanagedbyAMPCapital.
AMPhasbeenactivelypursuingarangeofwaste,energyandemission-reductioninitiativessince2002,whenwereleasedourfirstEnvironmentalPolicyandAMPCapitalsigneduptotheCarbonDisclosureProject.Thetimelinebelowindicatessomeofthehighlightsonourjourneytowardsagreenertomorrow.
Webecamecarbonneutralin2013,ayearearlierthanplanned.Knowingthereismoretobedone,weseteventoughertargetsfor2016.
Our 2014-16 priorities: AMPisreducingitscarbonfootprintby:− reducinggreenhousegasemissionsby
afurther15%intheperiod2014–16− pursuingenergyefficiencythrough
lightingupgrades,ITinitiativesandmoreflexibleandefficientuseofofficespace
− workingwithcontractors,landlordsandserviceproviderstoincrease
wasterecycling− reducingnon-essentialairtravel
andpaperconsumption− encouragingemployeeworkpractices
thatreduceenvironmentalimpacts− encouragingsupplierstoreducethe
impactsoftheirproductsandservices− continuingwithexternalassuranceof
AMP’scarbonfootprint.
In2015,wemadecontinuedprogressagainsttheseenvironmentalprioritiesandtargets,remainingcarbonneutralandreducingAMP’sgreenhousegasemissionsbyafurther9%year-on-year.
Our environmental performance
AMP has a duty to our community and future generations to minimise our impact on the environment.
The road to a greener tomorrow
2010
2009
2008
2005
2002 AMP Capital is a founding
member of the Investor Group on Climate Change.
Internal carbon levy introduced to
offset business air travel emissions. AMP records
a 10% rise in recycling from 2008 through our co-mingled
waste program plus a 10% drop in operational energy use from 2007. AMP reports for first time
under National Greenhouse and Energy Reporting
Act 2007.
AMP’s first Environmental
Policy launched. AMP Capital signs up to Carbon Disclosure
Project.
AMP Environmental Leadership Team
established. AMP reports for first time under Energy
Efficiency Opportunities (EEO) program.
AMP leaders commit to carbon
neutrality by 2014. NABERS waste and energy audits on major buildings, plus lighting, IT, building
management systems upgraded at AMP HQ. Green
Tomorrow employee engagement program
launched.
AMP 2015 community report 7
2014
2013 2015
2012
2011
AMP merges with AXA (Australia
and NZ). Lighting audits target further energy
efficiencies. Environmental targets reconfirmed. AMP
debuts in CDP ASX 200 Climate Disclosure Leadership Index.
AMP Capital Bridge Street office
receives 5.5-star NABERS energy rating. External
assurance of GHG footprint, which drops 15% from 2012.
Employee carbon offset program launched.AMP becomes carbon neutral
a year ahead of plan.
The international Carbon Disclosure
Project recognises AMP for its carbon reduction in 2014. A refurbishment project that
includes energy efficient lighting and IT initiatives, and more
efficient use of office space, is rolled out at AMP’s Sydney
headquarters.
LED light upgrades, more
video-conferencing facilities installed.
Carbon offset purchasing program expanded to include internationally
accredited projects.
New targets and priorities set for 2014–2016 and another 15% year-on-year reduction achieved.
AMP once again in CDP ASX 200 Climate Disclosure
Leadership Index.
Greenhouse gas reportingAMP’sgreenhousegasdatarelatestotheoperationofAMP’stenantedoffices,datacentreandbusiness-relatedairtravel.AMP’sgreenhousegasreportingcriteriacanbefoundinthecorporateresponsibilitysectionofamp.com.au.
In2015,totalgreenhousegasemissionsfromtheseactivitieswas25,194tonnes–a9%reductionyear-on-year(YoY)on2014:
Scope 1 and 2 emissions(mainlyofficeanddatacentreelectricityuse)decreased
14%YoYto15,853tonnes,duetoenergyefficiencyinitiativessuchaslightingupgrades,moreflexibleandefficientuseofofficespace(eg.AMPHQ,33AlfredStreet,Sydney),somereductionsintenantoccupancyandfurtherconsolidationofAMP’sdatacentreusage.
Scope 3 emissions(airtravel)increased1%YoYto9,341tonnesduemainlytointernationalairtravelassociatedwithAMP’songoingbusinessactivities.
AMPalsoparticipatesintheinternational
CarbonDisclosureProjectandin2015wasrecognisedforitsrelativecarbonreductionforthepreviousyear.
AMPalsoreportsannuallytotheAustralianGovernmentundertheNationalGreenhouseandEnergyReportingAct2007,whichincludesdataforapplicableinvestmentsmanagedbyAMPCapital.AMPCapitalisaninvestorsignatorytotheCarbonDisclosureProjectandengageswithpolicy-makersasafoundingmemberoftheInvestorGrouponClimateChange.
1 EYhasprovidedassuranceofAMP’s2013,2014and2015emissionsdata.Acopyofthe2015assurancestatementcanbefoundinthecorporateresponsibilitysectiononAMP’swebsiteamp.com.au.
2 InMarch2011,AMPmergedwithAXAAsiaPacificHoldingsLimited’sAustralianandNewZealandbusinesses(AXA).2011includeschangesinAMP’semissionsprofileduetoadditionalAXAtenanciesandairtravelassociatedwiththemergerandbusinessintegrationactivities.
Emissions20151 tCO2e
Year on year % reduction/
(increase)20141 tCO2e
20131 tCO2e
2012 tCO2e
20112
tCO2e2010
tCO2e2009
tCO2e
Scope1+2emissions
15,853 14 18,360 20,830 22,204 18,828 12,263 13,067
Scope3emissions
9,341 (1) 9,282 11,592 15,830 18,015 9,545 8,843
Totalemissions
25,194 9 27,642 32,422 38,033 36,843 21,808 21,910
Carbonoffsetsretired
25,194 27,642 32,422 27,078 16,069 9,545 8,843
Target Carbonneutral
Carbonneutral
Carbonneutral
50%below2009(incl.AXA)
50%below2009(ex.AXA)
Offsetallairtravel
Offsetallairtravel
AMP’s carbon emissions performance
AMP 2015 community report8
A new way of working Followingtheroll-outofenergyefficiencyandenvironmentalinitiativesatAMPatJesseStreetinParramatta,CollinsStreetinMelbourneandBridgeStreet,Sydney,in2015AMPbeganrefurbishingourlandmarkheadquartersonAlfredStreet,Sydney.
Theprojectaimstotransformourworkenvironmentthroughsmarterdesign,betteruseoftechnologyandactivity-basedworkpracticesthatencouragecollaborationandinnovation.ItwillreduceAMP’simpactontheenvironmentthrough:– moreefficientandproductive
useoffloorspace– anLEDlightingsystemthat
incorporateszonecontrols,occupancysensors,daylightharvestingandpowerscale-backfunctionalities,
– anewwastemanagementstrategy,includinge-wastestreamsandfurniturerecycling
– energyefficientappliancesandend-usecomputingtechnology
– ‘followme’printingtoreduceoverallpaperconsumption,and
– extendedvideoconferencingcapabilitiestoreducebusinesstravel.
Inlate2014,ourheadquartershelda3.5-starNABERS(NationalAustralianBuiltEnvironmentRatingSystem)rating,increasingtoa4-starNABERSEnergyTenancyratingin2015.AMPexpectsthisratingtoriseasthefloor-by-floorrefurbishmentiscomplete.
Apartfromtheenvironmentalbenefits,thisprojectaimstohaveapositiveimpactonthewellbeingofemployees.(See‘Ourpeople’page13).
AMPcontinuestoreducerelianceonpapercommunicationsbydevelopingandpromotingdigitaloptionsforcustomers.TheseincludethenewMyAMPwebsite,theMyAMPmobileandtabletapps,aswellasplatformsolutionssuchasNorthandMyNorth.
Site 2015 NABERS Energy Tenancy rating
33AlfredStreet,Sydney 4
JessieStreetCentre,Parramatta 4
50BridgeStreet,Sydney 5.5
750CollinsStreet,Melbourne 3.5
192AnnStreet,Brisbane 5
104MelbourneStreet,Brisbane 4
240QueenStreet,Brisbane 5.5
Project Abatement typeRegistry (verification standard)
Tonnes CO2e offset
WastewatertreatmentatGeneralStarchCoLtd,Thailand Methanecapture Markit(VCS) 5,000
InfraVestChangbinandTaichungWindFarms,Taiwan Renewableenergy Markit(GoldStandard) 5,000
LifeStrawwaterfilters,Kenya Avoideddeforestation Markit(GoldStandard) 450
CapacityupgradeofGunungSalakGeothermalPowerPlant,Indonesia Renewableenergy APX(VCS) 3,400
82MWLauRenunrunofriverHydroPowerPlant,Indonesia Renewableenergy APX(VCS) 11,344
Total carbon offsets retired 25,194
AMP 2015 carbon offset retirements
Our environmental performancecontinued
AMP 2015 community report 9
Carbon credits and community benefitsEachyear,AMPreducesemissionsthroughenergyefficiencyand,tomeetourtargets,offsetstheremainingemissionsbypurchasingcarboncreditsfromverifiedprojects.
Toachievecarbonneutralityin2015,AMPpurchasedandretired25,194carbonoffsetsfromprojectsthatdeliverenvironmentalandcommunitybenefits.Theseprojectsmeetinternationallyrecognisedverificationprotocols(VCS,GoldStandard)andtheAustralianGovernment’sNationalCarbonOffsetStandard(NCOS).
Wind energy in TaiwanTheChangbinandTaichungwindfarmsareoperatedbyInfravestWindPowerGroup.Theprojectcomprises68windturbineswithacapacityof2.3MW.Thewindfarmsdeliverrenewableenergytothestate-ownedpowergridinTaiwanreducingdependencyonimportedfossilfuelsforpowergeneration.
Geothermal power in IndonesiaTheGunungSalakpowerplant,100kmsouth-westofJakarta,usesnaturalgeothermalresources.Theprojectinvolvestheupgradeofexistingturbinestosignificantlyimprovetheplant’sefficiencyandgenerategreateroutputofcleanenergyfromthesamegeothermalsteamsource.Itsconstructionprovidedlocalemploymentopportunities.
Run-of-river hydro power in Indonesia TheLauRenunhydroprojectisagrid-connected,run-of-riverhydroplantthatgenerateselectricityforSumatra.Usinganaturalheightdifferenceofabout500metres,itgeneratesrenewableenergywithouttheneedforaretainingdam.Othercommunitybenefitsincludejobcreationandsupportforlocalartisanindustriesandschools.
Wastewater treatment in ThailandMethaneisextractedfromwastewaterfromGeneralStarchLtd’stapiocaplantinAmphurKornburibyatwo-stageanaerobicdigestionprocessandturnsitintoheat,replacingtheneedforheavyfueloil.Thisiscuttingemissionsbyover150,000tonnesofCO2ayear,improvingairandwaterquality,andhelpingtofundlocalschools.
Water purification in KenyaInwesternKenya,manypeopleuseindoorwoodburnerstoboilwaterdrawnfromunsafesources.Thisisastrongdriverofdeforestationandcontributestorespiratoryproblems.TheKenyaLifeStrawprojectofferswaterpurificationfilterstovillagers.Nearlyamillionwaterfiltershavebeendistributed,significantlyimprovingpublichealthandhouseholdairquality,andreducingdeforestation.
In 2015…
MoreinformationonAMP’sEnvironmentalPolicyandactivities,greenhousegasemissionsreportingcriteriaandtheCarbonDisclosureProject,isavailableatamp.com.au/amp/in-the-community/considering-the-environment
9% year-on-yearreductioninAMP’sgreenhousegasemissionsrecorded
25,194 carbonoffsetsretiredbyAMP
3 yearsasacarbon-neutralbusiness
AMP 2015 community report10
Ourpoliciesandpracticesaredesignedtohelpusrecruit,develop,promote,rewardandempowerourpeopletoactwiththeutmostintegrityandprofessionalism.Thesearethekeystobuildingacustomer-focused,dynamicandrespectedcompanythathelpspeopleowntomorrow.
Inclusion and diversityAMPbelievesourpeopleshouldreflectthediversityofthecommunityweserve.Wevaluedifferentwaysofthinking,andeveryoneisencouragedtosharetheirthoughtsandexperiencestodeliverbetterbusinessdecisionsandsolutions.
AMPhasidentifiedfourkeywaystoincreasediversityandinclusion:
Committed and inclusive leadership:AMP’sleadersaretrainedandsupportedtocreateaninclusiveculturethatcandeliverthebestresults.Inresponsetoour2015employeeengagementsurvey,92%ofemployeessaidtheirmanagergenuinelysupportsequalitybetweenwomenand
men;89%saidtheirmanageractivelysupportsflexibleworkingarrangements,while85%agreeAMPvaluesdiversityforthenewideasitbrings.
Merit-based policies and practices:Wefocusonequalitywhenwerecruit,develop,promoteandpayourpeople,aswellasrecognisetheirperformance.Thisincludeshavinggender-balancedrecruitmentshortlists,developingfemaleleaders,reviewingourpayandperformanceoutcomesandprovidingpoliciesandpractices,suchasflexiblework,thatsupportallourpeople.
Decision-making and voice: Weleveragethediversethinkingacrossourbusinesstobetterunderstandourcustomersandmeettheirneeds.Weuseahuman-centreddesignapproachtolistentotheneedsofourcustomersandguidethedesignofourprocessesandproducts.
Measurement, accountability and rewards:Wehavesetstrongdiversitytargetsin
ordertodeliverbetterresults.AMPalsoconductsanannualpayequityreviewtoidentify,analyseandaddresspotentialareasofinequity.ThiscommitmentisoutlinedinAMP’sremunerationpolicy.
Driving changeOurCEOandGroupLeadershipTeammakeuptheAMPInclusionandDiversityCouncilandsetAMP’sgoalsanddirectionforinclusionanddiversity.Thecouncilisalsoresponsibleforinspiringourleadersandholdingthemtoaccount.
ThePeopleandRemunerationCommitteeoverseestheimplementationofourinclusionanddiversityinitiativesandreportskeyactionsandprogresstotheAMPLimitedBoard.
In2015,welaunchedAMProud,whichisacommunitygroupforlesbian,gay,bisexual,transgender,intersexandquestioning(LGBTIQ)employeesandtheirsupporters.
Our people
AMP wants to improve the lives of our customers, shareholders, business partners and community by being a truly inclusive and supportive business that brings out the best in our people.
5,420 peoplewereemployedbyAMP
1 in 3 ofAMPLimited’sBoardmemberswerewomen
In 2015…
37% ofseniorexecutiverolesatAMPwereheldbywomen–up10%infiveyears
AMP 2015 community report 11
Gender equalityIn2015,wewerehonouredtobenamedanEmployerofChoiceforGenderEqualitybytheFederalGovernment’sWorkplaceGenderEqualityAgency.
Sinceintroducinggenderdiversitytargetsin2011,wehaveincreasedtherepresentationofwomeninseniorexecutiverolesby10percentagepoints.
Womennowhold37%oftheseroles,whicharetypicallyonetothreereportinglayersbelowtheCEO.
Womenholdaround39%ofourmiddlemanagerroles,whichtendtobefourtosixreportinglayersbelowtheCEO.Overall,womenmakeup52%ofAMP’sworkforce.Attheendof2015,womenfilledathirdofthepositionsontheAMPLimitedBoard.Thisroseto40%inMarch2016.
Bytheendof2020,theaimisforwomentoholdhalfofAMP’smiddle-managementrolesand47%oftheseniorexecutiveroles.
We’realsostrivingtoincreasethegenderbalanceonourboards.Bytheendof2020,wewantpositionsonallourboardstobefilledby40%women,40%menand20%eitherwomenormen.
Roles 2020 target 2015 target 31 December 2015 31 December 2014
AMP Limited Board 40% 30% 33% 20%
Senior executives 47% 35% 37% 34%
Middle management 50% 43% 39% 39%
All employees n/a n/a 52% 51%
Representation of women at AMP
AMP 2015 community report12
Supporting and developing peopleAMPwantstobuildanenvironmentthathelpspeopletomakedecisionsandtakeactionsthathavegenuinevalueandinfluence.Weprovidearangeofdevelopmentandcareeropportunitiestosupportourpeopletogrowandreachtheirpotential.
Theseinclude:– secondments– mentoring– cross-teamprojects– onlinelearning– externalstudy.
OngoingdevelopmentiskeyatAMP.Weknowthatdevelopingleaderswhoareresilient,resourcefulandcollaborativeisasoundinvestmentforthebusinessandourcommunity.
In2015,ourleadershiptrainingprogramsEnact(fornewerleaders)andEngage(for
seniorleaders)werecompletedby309AMPemployees.Duringtheyear,2,209employeesattendedworkshops,designedtostrengthentheirknowledgeofAMP’scultureandpromisetoourcustomers.
AMPalsohasanumberofinitiativeswithinourbusinessteams.Forexample,WomeninLeadershipinOperationsisagroupthatsupportsfemaleleadersinourOperationsdivision.Inaddition,eachyearanumberofAMP’sfemaleleadersareselectedtoparticipateintheChiefExecutiveWomen’sprogram,thepre-eminentorganisationrepresentingseniorwomenleadersfromthecorporate,publicservice,academicandnot-for-profitsectors.
WealsosupporttheongoingeducationofAMPfinancialadvisersthroughtheAMPHorizons–anationalcentreofexcellencethatisdedicatedtotheeducationanddevelopmentoffinancialadvisers.
The next generationAMPUniversityChallenge,anationalcompetitionopentoAustralianuniversitystudents,encouragesyoungpeopletopursueacareerinthefinancialservicessector.In2015,thecompetition’sfifthyear,morethan360studentsapplied–withasmanyfemalesapplyingasmalesforthefirsttime.Entrantscompeteforcashprizesandthechancetoattendadviceconferences,includingtheAMPAdviceSummitheldatthebeginningofeachyear.
TheChallengeisintegratedintothecurriculumandassessmentforthefinalyearsubject,formsthefinancialplanningmajoratLaTrobeUniversity,GriffithUniversityandUniversityofCanberra.
AMPprovidessupportedentryintothefinancialservicessectorthroughourwell-regardedgraduateprogram.Thistwo-yeartargeteddevelopmentprogram,whichiscommittedtonurturingnew
Our peoplecontinued
We provide benefits that help our employees stay on top of their finances, family time, health and social lives.
AMP 2015 community report 13
talent,tookin31graduatesin2015,bringingthetotalcohortto62.
Inearly2015,theAustralianAssociationofGraduateEmployees(AAGE)nameditthetopfinancialservicesprogramofitstypefollowinganationalsurveyofparticipants.TheAMPprogramwasrankednumber13inthetop75ofgraduateemployersacrossavarietyofsectorsinAustralia.
Employee benefitsAMPunderstandsthatlifeisnotallaboutwork.Thisiswhyweprovidebenefitsthathelpouremployeesstayontopoftheirfinances,familytime,healthandsociallives.
AMP’semployeebenefitsinclude:– apurchasedleavescheme– anAMPchildcarecentreinSydney
andgenerousparentalleave– discountedoffersforfinancial
productsandservices
– 12%employersuperannuationcontributions1
– thechancetosalarysacrificegymmemberships,childcarefees,supercontributions,carparkingornovatedleases
– regularhealthandwellbeingprograms,andon-sitegymsatsomeofficelocations
– third-partydiscountsthroughouronlinediscountprogram,AMPAdvantage
– accesstoafree,confidentialcounsellingandadviceserviceforemployeesandtheirimmediatefamily
– socialclubsinmultipleofficesthatofferdiscountedentertainmenttickets.
Healthy and agile workplaces In2015,westartedrollingoutarefurbishmentprojectatAMP’sSydneyCBDheadquartersat33AlfredStreet.KnownastheSparkitectureproject,
itnotonlyhelpsAMPreduceitsenvironmentalimpact,butalsoimproveshealthandwellbeingthroughtheuseofsit-to-standdesksandstandingcollaborationareas.
Withitsvarietyofworkingspacesandmobiletechnologysupport,thisprojectencouragesflexibleworkingpractices,greaterco-operationandagility.Theuseofstairsinsteadofelevatorsforshortjourneysbetweenfloorsisalsopromoted.
Theresultssofarhavebeenpositive,witha2015employeeengagementsurveyfindingthat93%ofrespondentswereeithersatisfiedorextremelysatisfiedwiththenewworkingenvironment.
FindoutmoreaboutworkingatAMPatamp.com.au/ampcareers
1 EmployeesemployedunderNationalMutualLifeAssociationterms(NMLA)areentitledto10%employersuperannuationcontributionsandsubsidisedinsurance,effectiveApril2014.
AMP 2015 community report14
ThephilanthropicarmofAMPworkstoachievethisintwoways:
It helps people to help themselvesbysupportingorganisationsthatgivedisadvantagedAustralianslife-changinglearningandworkopportunities.
It also helps people to help others.ItsupportsAMPemployeesandfinancialadviserstosharetheirtime,skillsandresourceswithpeopleinneed,andbacksamazingAustraliansdoinggreatthingsinthecommunitythroughAMP’sTomorrowFundgrants.
Since1992,AMPFoundationhasdistributedmorethan$80.5milliontohelpcharitiesandindividualsmakeapositiveimpactoncommunitiesinAustraliaandNewZealand.In2015,theAMPFoundationdistributed$4.8millionandisprojectedtogivemorethan$5.7millionin2016.Thiswillinclude$1millioninAMP’sEmploymentBoostgrantstosupportprogramsthathelpAustraliansintosustainablework.
How the AMP Foundation is fundedTheAMPFoundationhasacapitalbase,orcorpus,whichAMPhascontributedtothroughdonationsofmoneyandshares.
In1998,whenAMPdemutualised,AMPdonated$30milliontotheAMPFoundationandallocated2.5millionshares.In2001,theAMPFoundationretainedcloseto1.7millionsharesattheendoftheverificationprocessofshareholders(20%oftheunverifiedshareholding).TheinvestmentincomefromthecorpusisusedtosupportcommunityinitiativesandpayfortheAMPFoundation’srunningcosts.ProbonosupportisprovidedbyEY,King&WoodMallesonsandMinterEllison.
AMPCapitalistheAMPFoundation’sportfolioandinvestmentmanager.Thefoundationinvestsapercentageofitscapital(upto3%)insocialbenefit
financialinstrumentsandsocialenterprisesthatbothachieveacommercialinvestmentreturnanddemonstratedsocialoutcomes.ItinvestsintheNewpinSocialBenefitBondandtheBenevolentSocietySocialBenefitBond,andpreviouslywastheonlyphilanthropicfoundationtoinvestinGoodStartEarlyLearningCentres.
ThemajorityoftheAMPFoundation’sassetsareinvestedinbespokeequitiesthroughaportfolioconstructedandmanagedbyAMPCapital.
TheAMPFoundationhasanindependentboard,whichapprovestheFoundation’sstrategicdirectionandmonitorsitscommunitypartnershipsandcommercialinvestments.Theboardconsistsof:− RichardGrellmanAM(Chairman)− PaulLeaming− PrueMilne− MatthewPercival− FionaWardlaw.
Our work in the community
The AMP Foundation’s goal is to help ensure a better tomorrow for everyone – especially those facing challenges accessing education and employment opportunities.
AMP 2015 community report 15
A philanthropic evolutionInthepastdecade,philanthropyhasundergoneadramatictransformation,withtheriseofcrowdfunding,theintroductionofnewtaxincentivesforgivingandtheapplicationofbusinessprinciplestosocialinvestment.
Thisnewageofphilanthropybringswithitanincreasinglycomplexsetofsocialinvestmentdecisions.Thisiswhy,in2015,theAMPFoundationengagedSocialVenturesAustralia(SVA)ConsultingtoinvestigatebestpracticeinphilanthropyinAustraliaandworldwide.
SVAisanon-profitformedin2002bytheAMPFoundation,theBenevolentSociety,WorkVenturesandTheSmithFamily.Astheorganisation’sspecialistconsultingpractice,SVAConsultinghelpsnon-profitsstrengthentheirabilitytoaddresssocialissues.
SVAConsultingreviewedpubliclyavailableliterature,analysedsocialinvestmentactivitiesofcorporateandnon-corporatephilanthropicentities,andconsultedwith
representativesoftheseorganisationsandsubjectmatterexperts.Theirsubsequentreporthighlightedtheneedforfunderstobemoretransparentandcollaborative,whichiswhytheAMPFoundationdecidedtosharethekeyfindingsinaconciseguidetogiving.
‘Keytrendsandbestpracticeinphilanthropy:anAMPFoundationandSVAperspective’providesanoverviewofmoderngiving,aswellascasestudiesandrecommendationsforincreasingcollectivesocialimpact.
A new approach to social investmentTheSVAConsultingreviewvalidatedtheAMPFoundation’sapproachtodate,particularlythrough:
– social impact investing(suchasourinvestmentintheNewpinandBenevolentSocietysocialbenefitbonds)andourfundingofSVA’simpactinvestingteam
– capacity buildingbyfundingSVAandTheFundingNetwork,aswellasinvestinginnon-profits’coreoperationsandinfrastructure
– focusing on systemic issues byconcentratingfundsonAboriginaleducationprograms.
Asaresultofthereview,AMPFoundationwillalsoseektoprovidefundingforinitiativesthatsupportdisadvantagedpeopleofallagesandbackgroundstomoveintoandstayinemployment,andbecomefinanciallysecure–adirectionmorecloselyalignedwithAMP’sbusiness.
Download‘Keytrendsandbestpracticeinphilanthropy:anAMPFoundationandSVAperspective’atamp.com.au/amp/in-the-community/amp-foundation
$4.8m infundsweredistributedtothecommunitybytheAMPFoundation
195 charitiesweresupportedbytheAMPFoundationandAMPemployees
$80.5m hadbeendistributedtothecommunitybytheAMPFoundationsince1992
In 2015…
AMP 2015 community report16
Thesepartnershipsspanaminimumofthreeyears,althoughsomecontinueformorethan10years.
Ourcommunitypartnersrunin-depthprogramsthathelpaddresssocio-economicdisadvantage.Mostaredesignedtoimproveeducationalandemploymentoutcomesformarginalisedyouth,particularlyfromAboriginalbackgrounds.However,theAMPFoundation’ssocialinvestmentfocusisshiftingtoalsoincludeprogramsthathelppeopleofallagesandbackgroundsmoveintosustainableemployment.
Thefundingprovidedcanconsistofa‘growthcapital’componenttohelpanorganisationdevelop,‘coreinfrastructure’tofundanoperationalrole,programfundingoracombinationofallthree.Wherepossible,theAMPFoundationfacilitatesmentoring,probono,volunteeringandfundraisingforitscommunitypartners,andalsohostsfunctionsinAMPbuildingsontheirbehalf.
Ratherthanorganiseformal‘grantingrounds’,theFoundationproactivelyidentifiesandresearchespotentialpartners.
AMP’s community partners in 2015 were:
Australian Indigenous Mentoring Experience (AIME)equipsyoungAboriginalandTorresStraitIslanderswiththeskillsandconfidencetocompletehighschoolandpursuefurtherstudyandemployment.Partner since20102015 funding: $75,000
Brotherhood of St Laurence runsSteppingStones,amicro-businesssupportandmentoringprogramformigrantandrefugeewomeninMelbourne.Participantsgainsmallbusinessskillsthatenablethemtoincreasetheircommunityparticipation.Partner since20052015 funding:$175,383
CentaCare Wilcannia-Forbes supportsdisadvantagedpeopleinCentralandFarWestNewSouthWales.TheAMPFoundationfundsafinancialliteracyprogram,runbyAboriginalfinancialcounsellors.Partner since20052015 funding:$148,838
Clontarf Foundation usesfootballtoengageAboriginalstudentsatmorethan60schoolsacrossthenationwitheducationandemployment.Toplayfootball,studentsmustattendschoolregularlyanddisplaygoodbehaviour.Partner since20082015 funding:$340,000
CREATE Foundation advocatesforchildrenwithafostercareexperienceandworkswithgovernmentstoimprovetheircareexperience.Italsoprovideschildrenincarewithinformationontheirrights,issuesandlifeskills.Partner since20062015 funding: $454,613
Ganbina helpsyoungAboriginalpeopleinShepparton,Victoriathroughschool-to-worktransitionprogramstoensuretheyreceivetheeducationandtrainingneededtoreachtheirfullpotential.Partner since20052015 funding:$125,000
Our community partners
AMP Foundation takes a strategic and proactive approach to philanthropy by forming long-term partnerships with a small group of charitable organisations.
12 communitypartnersreceived$2.6mtofundprogramsin2015
9 yearswastheaveragelengthoftimewesupportedourcommunitypartners
15 yearswasthelengthofourlongestpartnership–withSVA
In 2015…
AMP 2015 community report 17
TFN’s innovative giving In2015,theAMPFoundationinvitedemployeestoparticipateintwolivecrowdfundingeventsrunbycommunitypartnerTheFundingNetwork(TFN).
HostedatAMP’sSydneyheadquarters,theeventsconnectedourpeoplewiththeworkofeightgrassrootscharitieswhileintroducingmanytoTFN’sunique
approachtofundraising,bringinginmorethan$160,600forthecauses.
TFNwantstomakephilanthropyaccessibletoeveryonebyconnectingpeopleinanenvironmentofgoodwillandreciprocity.Theeventsareacrossbetweenafriendly‘Dragon’sDen’andanopengivingcirclewherepotentialfundershearpitchesfromcharitiestosupportsmall,innovativesocialchangeprojects.
Theminimumdonationpeopleareaskedtomakeis$100,althoughthereisnopressuretogive.
Since2013,whentheAMPFoundationprovidedseedfunding,TFNhasinspirednearly2,000peopletogivemorethan$2.6millioninfundingandin-kindsupporttosmallnon-profitorganisationsaroundAustralia.
The Graham (Polly) Farmer FoundationprovidesAboriginalstudentswithanafter-schoolstudyfacilityandindustrysupport,aswellastutorialandvocationaleducationalassistance.Partner since 20082015 funding: $300,000
Mission Australia runsLeadershipandCulturalAwarenessprogramsthathelpAboriginalAustraliansinKempseyandDubbotograduatehighschoolandmoveintofurthereducationandemployment.Partner since20082015 funding:$200,000
The Salvation Army operatestheAMP614YouthBusinMelbourne.Itprovidesemergencyaidandsupportforhomelessandmarginalisedyouth,andconnectsthemtoservices.Partner since20052015 funding: $200,000
Social Ventures Australia (SVA) investsinsocialchangebyincreasingtheimpactandsustainabilityofthesocialsector.Itsupportshigh-potentialorganisationsthatfostersolutionstocommunitychallenges.Partner since20012015 funding:$250,000
The Funding Network (TFN) organiseslivecrowdfundingeventsforsmall,innovativenon-profitsandhelpstheseorganisationsbuildtheircapacity.Partner since20132015 funding:$50,000
Very Special Kids supportsfamiliescaringforchildrenwithlife-threateningillnessesinVictoria.Itprovidescounselling,bereavementandemotionalsupport,familycampsandprograms.Partner since20052015 funding:$65,000
AMP 2015 community report18
VolunteeringThroughouttheyear,AMPemployeesinAustraliavolunteered8,522hourstohelp27charities.Theycompleted184differentteamprojects,includingpreparingmealsfordisadvantagedpeopleandmentoringpeoplewithintellectualdisabilities.Ouremployeesalsomade557blooddonationsthroughtheAMPFoundationCommunityProgram,saving1,551lives.
EmployeesfromacrossthenationalsomentoreddisadvantagedhighschoolstudentsonlinethroughTheSmithFamily’siTrackprogram.
Employee fundraisingTheAMPFoundation’sCommunityProgramsupportsAMPemployeeswhoraisemoneyforcharitybydollar-matchingfundraisingupto$1,000peremployeeorupto$10,000perteam.
In2015,ouremployeesraised$451,678for67charities.Employeestookpartin90fundraisers–fromSteptemberfortheCerebralPalsyAlliancetoarelaycyclingeventforVariety.
Ourpeoplealsodonated1,732blanketstoTheSalvationArmyand4,360books,backpacksandtoystotheCREATEFoundationatChristmas.
TheAMPFoundationissupportedinitsinternalworkby70AMPCommunityChampionswhoencouragetheirpeerstoparticipateinvolunteeringactivities,payrollgivingandfundraisingactivities.
Unsung HeroesUnsungHeroesareAMPemployeeswhovolunteerwithacharityformorethan80hoursayearorwhoserveontheboardofacharity.Torecognisetheircontributiontothecommunity,theAMPFoundationdonates$3,000totheorganisationstheyvolunteerwith.
In2015,58UnsungHeroeswererewardedforvolunteeringwithorservingontheboardofacharity,includingScoutsAustralia,theSES,OperationSmile,locallifesavingclubs,StVincentdePaulandmanyothers.
Payroll givingThroughtheAMPFoundation’spayrollgivingprogram,employees’pre-taxdonationsarematchedbythefoundation.Itprovidesavaluablesourceofrevenueforcharitiesworkinginarangeoffields,includinghealthanddisability,theenvironment,animalwelfare,homelessness,educationandinternationaldevelopment.
Duringtheyear,557ofourpeopledonated$321,341tocharitiesthroughpayrollgiving,whichwasmatchedbytheAMPFoundation.
AMP Cancer Council Pro Bono ProgramAcancerdiagnosiscanhaveaheavyimpactoneveryfacetofaperson’slife,includingtheirfinances.TheAMPCancerCouncilProBonoProgramenablesAMPfinancialadviserstosharetheirexpertiseatnocostwithpeopleaffectedbycancer.
Throughtheprogram,peopleaffectedbycancerreceivefreeguidanceonissuessuchasaccessingCentrelinkbenefits,applyingforearlyaccesstosuperannuationandinsurancebenefits,developingabudgetandensuringaregularcashflow,aswellasplanningforthefinancialfutureoftheirfamily.
Theprogramhasgrownsignificantlyoverthepastsixyears,andnowoperatesacrossthenationwith536practicessigneduptoassistfamiliesaffectedbycancerbytheendof2015.Sofar,morethan3,700familieshavebeenhelpedbytheAMPCancerCouncilProBonoProgram,with923casescompletedin2015.
AMP Capital Shopping CentresAMPCapitalShoppingCentresinAustraliaandNewZealandcoordinatearangeofactivitiestosupportbothnationalandlocalcharities.In2015,15AMPcentresformedcharitypartnershipswithlocalnon-profitorganisations,providingfundraising,volunteeringandpromotionalsupport.
AMPCapitalShoppingCentresalsosupporttheworkoftheCREATEFoundation,AnimalWelfareLeagueandRSPCAthroughouttheChristmasperiodbymakingadonationforeverySantaphotopackagesold.Proceedsfromentryticketstochildren’sChristmaseventsanddonationsforgiftwrappingservicesarealsodonatedtoCREATE.
Our community program
AMP’s people have a long tradition of giving back to the community. Through its community program, the AMP Foundation encourages and supports employees working in our Australian offices to donate their time and resources to a range of charities that make a positive impact on the community.
AMP 2015 community report 19
8,522 AMPvolunteerhoursweregivento27charities
$1.8m donatedbyAMPemployeeswithsupportfromtheAMPFoundation
In 2015…
AMP Foundation financial snapshot
For the year ended 31 December2015
$2014
$
Revenuefrominvestmentincome 9,448,395 9,268,638
Donations and payments to the community Partnershipfunding 2,578,196 3,101,102AMPEmployeeVolunteeringandGivingprograms 1,035,762 952,546Communitygiving 198,233 127,300AMPTomorrowFundgrants 1,000,081 1,003,173
4,812,272 5,184,121
Operationalcosts 1,427,059 1,608,786Investmentfees 358,739 357,497
Assets Netliquidassets 4,605,751 5,682,911AMPshares 12,375,572 11,695,129AustralianEquityportfolio 121,794,582 105,649,512AMPCapitalInvestorsunittrusts 995,180NewpinSocialBenefitBond 100,000 100,000TheBenevolentSocietySocialBenefitBond 200,000 200,000
Total corpus 139,075,905 124,322,732
36% ofouremployeesgavetimeandmoneytocharityviaAMPFoundationprograms
AMP 2015 community report20
Eachyear,AMP’sTomorrowFundoffersamazingAustraliansdoinggreatthingsthechancetosharein$1millioningrants.
Australiancitizensandpermanentresidentsofallages,walksoflife,interestsandabilitiescanapplyonlineforgrantsofupto$100,000.Applicantsareaskedtoexplainwhattheywanttoachieve,whattheyhavedonetomoveclosertoreachingtheirgoalandhowthisbenefitsthecommunity.
In2015,oursecondAMPTomorrowFundprogramattracted4,000peopleseekingfinancialsupporttotakeaspecialprojectorlong-heldpassiontothenextlevel.
Forty-twoindividuals–knownasAMPTomorrowMakers–fromeverystateandterritorywereawardedAMPTomorrowFundgrants.
Theyincludedamarinescientistresearchingthecarbon-storingpotentialofourcoastline,asculptorwhoadvocatesthehealingpowerofart,fiveathletesaimingtorepresentAustraliaatRio2016,asocialinnovatorrunningacatering
businessthatintegratesrefugeesandasylumseekersintothecommunity,aruralnurseworkingtirelesslytohelplocalpeopleaffectedbythedrugice,andanophthalmologistwhohascreatedanappthatcanhelppeopledetectglaucoma.
Another$1millioninAMPTomorrowFundgrantswillbeofferedin2016.ApplicationsopeninAprilandgrantrecipientswillbeannouncedinlateNovember.
AMP’s Tomorrow Fund
AMP believes in helping talented and innovative Australians to create better tomorrows for the community.
TofindouthowtoapplyforagrantandtolearnmoreaboutourAMPTomorrowMakers,visitampstomorrowfund.com.au
How AMP helped our community in 2015
$4.8m infundsweredistributedtothecommunitybytheAMPFoundation
5,420 peoplewereemployedbyAMP
1 in 3 ofAMPLimited’sBoardmemberswerewomen
37% ofseniorrolesatAMPwereheldbywomen–up10%infiveyears
9% year-on-yearreductioninAMP’sgreenhousegasemissionsrecorded
3 yearsasacarbon-neutralbusiness
$1.1b ininsurancepaymentshelpedourcustomers
$2.2b inpensionpaymentshelpedourcustomersinretirement
25,194 carbonoffsetsretiredbyAMP
195 charitiesweresupportedbytheAMPFoundationandAMPemployees
36% ofouremployeesgavetimeandmoneytocharityviaAMPFoundationprograms
4.4mcustomersinAustraliaandNZwerehelpedbyAMPadvice,productsandservices
Contact usphone +612 9257 5000web amp.com.au and ampstomorrowfund.com.auemail [email protected]
facebook.com/AMPaustralia
@AMP_AU or @amp_foundation
linkedin.com/company/amp 2192
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