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Wool Stocktake : AWI Annual Report 2014-15
AWI's investment in on-farm R&D, off-farm R&D and marketing requires the company to consult a wide range of stakeholders along the supply chain -- from woolgrowers to consumers. While AWI has a robust and broad-ranging consultative framework, engagement with woolgrowers remains a key priority. In 2014/15 AWI engaged directly with woolgrowers to improve awareness of AWI's activities, promote two- way exchanges of information and ensure stakeholder views are incorporated into key corporate planning and activities. Supply chain partners support AWI by partnering in business and marketing collaborations that deliver benefits to the Australian wool industry. These relationships assist AWI in delivering market information and RD&M outcomes for Australian woolgrowers. Examples by which AWI engaged stakeholders during 2014/15 include: • Woolgrower Industry Consultative Committee (ICC) meetings -- containing delegates from the Australian Association of Stud Merino Breeders, Australian Superfine Wool Growers' Association, Australian Wool Growers Association, WoolProducers Australia, Pastoralists & Graziers Association (PGA) - Western Australia, a non- Merino breed representative. The Department of Agriculture is an observer of the ICC. • Regular meetings of AWI advisory committees such as the Wool Sustainability Panel, Animal Welfare Forum, Wild Dog and Rabbit Advisory groups • Participating in over 40 forums and events with woolgrowers in regional areas • Trade, retailer and brand workshops • Woolmark licensee workshops and meetings • Meetings with manufacturers and media partners in key markets • Communications such as the quarterly Beyond the Bale magazine, AWI's online newsletters and the AWI website (www.wool.com). Further detail on AWI's consultation processes is shown in Figure 2 opposite. In 2014/15 AWI continued to review and implement its government relations strategy to strengthen relationships with government stakeholders. As one of fifteen rural RDCs, AWI's engagement with the Australian Government is underpinned by the SFA, a contract which governs AWI's expenditure of levy and matching government funding for eligible R&D activities. Examples by which AWI engaged government during 2014/15 are: • regular interaction with the Australian Government through informal discussions and formal meetings, participation in government processes, and day-to- day discussions • production of an SFA compliance report (in conjunction with the Department of Agriculture (DA)) to further demonstrate, on a six-monthly basis, the company's ongoing compliance with SFA requirements • production of briefing packages for DA • provision of six-monthly reports to a wide range of government stakeholders on key issues • offering briefings on R&D and marketing activities and key issues to interested government stakeholders • AWI's participation in Council of Rural Research and Development Corporations activities • AWI's participation in the development strategies under the National RD&E Framework. As a result of its strong links with its stakeholders in 2014/15, AWI is strongly positioned to: • support Australian woolgrowers to adapt to changing market conditions • deliver R&D solutions that are responsive to industry and government needs • provide a vital link between government and industry to ensure efficient and effective investment in R&D. AWI continues to maintain a strong focus on accountability and on its internal control environment. It engages the services of the following leading professional services firms: is engaged annually to conduct the external audit and report to shareholders. and provide specific advice on taxation and other related matters pertaining to AWI and The Woolmark Company, as required. GOOD BUSINESS
AWI Annual Report 2013-14
AWI Annual Report 2015-16