Risk and governance

Transurban is committed to best practice corporate governance, transparency and accountability. This is essential for the long-term performance and sustainability of the business, and to protect and enhance the interests of security holders and other stakeholders.

Detailed information can be found within Transurban’s 2015 Corporate Governance Statement.


Leadership is a key focus throughout the organisation to help deliver better outcomes for our business and stakeholders, both internal and external.

In February 2015, the Executive Committee and many of the Senior Leadership Team came together for the second annual Senior Leadership Program. The Program continued the theme of building and sustaining high performance; and ensuring that there is consistency in our approach to leadership across the Group. The skills and workshops over the three days challenged the group to:

  • Identify and agree on core leadership behaviours for Transurban leaders
  • Understand individual leadership styles and personal values
  • Harness drivers and overcome blockers to performance

Each of these topics was explored from an individual, team and organisational perspective.

The group agreed to live the Transurban values without exception; ensuring open, honest and inclusive communication; facilitating collaboration across regions and functions; as well as focusing on continued development for teams and high performers.

Code of Conduct
Risk Management Policy
Audit and Risk Committee Charter

GRI G4 Indicators

  • Anti-corruption DMA
  • Public policy DMA
  • Anti-competitive behaviour DMA
  • Compliance (Society) DMA
  • Compliance (Product Responsibility) DMA
  • G4-14
  • G4-56
  • SO4
  • SO6

Ethics and Conduct

Our conduct as an organisation and as individuals is crucial to the integrity and performance of our business.

Transurban’s Code of Conduct helps guide our employees in making decisions that are consistent with our values and our overall approach as a business. The Code of Conduct is supported by a number of training programs on ethics and conduct, governance, equal opportunity, anti-corruption, workplace health and safety and privacy.

All employees and suppliers are encouraged to report any breaches of Transurban’s Code of Conduct. Any alleged or reported breaches of this code are investigated by our Human Resources team. If they determine that a breach has occurred, the issue and any disciplinary actions are recorded.

Governance, anti-corruption and fraud risks are included in our business-wide risk framework to help create a consistent and rigorous approach to identifying, analysing and evaluating risks. The framework is overseen by the Audit and Risk Committee and is actively managed by the Executive Committee, with outcomes reported to our Board.

Transurban participates in public policy debate on issues that may impact our business, but does not make political donations. Payment for attendance at political functions is sometimes required, but only approved if made in accordance with Transurban’s internal policy and review requirements. In FY15, we paid US$93,500 to attend political events in the USA and $26,570 to attend events in Australia.

Tax contributions

Transurban invests in large-scale infrastructure projects that require large, up-front investment. We recover that investment over time as we operate and toll roads over the course of our concession deeds, typically multiple decades.

The front-loaded nature of our capital expenditure and debt funding means that under Australian tax law, Transurban Group itself does not pay tax in the early years of a concession. As revenues grow in the latter half of the concession periods, Transurban will make larger tax payments.

In FY15, Transurban provided a submission to the Australian Senate Inquiry into Corporate Tax Avoidance, alongside more than 100 other major Australian organisations. The submission explains that Transurban does not pay corporate tax in the early years of its concessions due to the tax amortisation of billions of dollars of initial capital investment and interest on its associated debt funding.

In the submission, we also outlined the significant benefits we deliver to governments and communities by funding critical infrastructure that connects communities and drives economic growth. This is supported by independent assessments —including one study by KPMG in 2015 — that estimate that billions of dollars in economic benefit are provided annually by toll road infrastructure by enabling roads to be built sooner than with alternative government funding models.

We also estimate that close to $750 million of tax has been paid by our security holders on distributions paid to date. As our concessions mature, Transurban will ultimately pay significant amounts of tax to the ATO.

Transurban’s submission to the Inquiry, as well as those of other Australian organisations, can be seen in full here.