2022 Corporate Report

Corporate Report for the year ended 30 June 2022

Introduction and overview

Business performance

Governance and risk

Directors’ report

Remuneration report

Financial statements

Sustainability supplement

Security holder information

Political contributions Our Political Contributions Policy precludes us from making any direct donations to political parties. However, it does allow participation in public policy dialogues and events on issues that may impact our business. In Australia, we engage with political representatives through multiple avenues, including our membership of business forums associated with both sides of politics. In FY22, we spent $74,717 participating in events relevant to our business. A similar bipartisan approach is taken in the United States, resulting in USD132,500 spent in FY22. In Canada, contributions are prohibited and accordingly none were made. All contributions are disclosed in line with relevant government and regulatory requirements. Read our Political Contributions Policy, transurban.com/ corporate-governance Our road usage charge study is helping governments gather the insights they need to evaluate more sustainable and equitable tools to fund transport in the region.

NSW inquiry into road tolling regimes

Future transport funding Transurban has long advocated for a fairer and more sustainable transport funding model to replace the current system based on diminishing revenue from fuel excise. In the US, we are partnering with the Eastern Transportation Coalition to provide insights into how a road funding system based on user charging could operate along the east coast. With internal combustion vehicle fuel efficiency and electric vehicle adoption projected to increase significantly, federal and state government leaders have prioritised trialling road usage charge programs as a viable replacement to a traditional fuel excise. Under these programs, drivers pay for their road use based on the distances they travel, rather than fuel consumed. In FY22, nearly 200 drivers were recruited from the Greater Washington Area for a three-month study to assess how road user charging systems could work with toll roads, and how these systems could incorporate a congestion charge and cordon pricing. The next program phase launched in late FY22. The US trial follows our Melbourne Road Usage Study in 2016, the first real-world test of a user-pays system in Australia.

Following our comprehensive submission to the NSW Government’s Inquiry into Road Tolling Regimes in FY21, Transurban welcomed the opportunity to speak before the inquiry this year. In two appearances before the inquiry’s parliamentary committee, our NSW executives Michele Huey and Andrew Head shared detailed information about the benefits of toll roads, the value of public- private partnerships, and provided data on the time and cost savings available to customers using our roads. As part of the inquiry process, we indicated that we are open to considering a range of initiatives to improve our customers’ on and off-road experience in Sydney, including: • potential tolling reform for pricing consistency • decision-point signage to give motorists choice • consolidated toll notices to reduce customer charges • a tunnel ventilation optimisation trial to support the NSW Government’s net zero commitment. We are looking forward to further discussion with the NSW Government and other stakeholders during FY23 about Sydney’s toll roads, and how the Sydney road network can be even more equitable and efficient.


Made with FlippingBook Annual report maker