Electricity Asset Management Plan 2019-2029
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Vector Limited://
GOVERNANCE AND PRINCIPLES OF OUR SUSTAINABILITY APPROACH Sustainability is overseen at the executive level by the Executive Risk and Audit Committee. The Committee provides a company-wide forum for staff from different disciplines to discuss both the current and emerging risks we face. Our sustainability policy is based on our sustainability framework explained in Section 1 which has four key guiding principles at its heart – Integrity, Transparency, Inclusive and Kaitiakitanga. Of these Kaitiakitanga, the Māori concept of stewardship and care of the environment, is very relevant when it comes to managing our assets and is a founding principle. It recognises the need to adopt a whole-of-life approach that includes both the upstream (supply chain), downstream (end-of-life), and, very importantly, customer interfacing aspects of asset management.
In order to apply these sustainability principles to asset management Vector utilises appropriate international standards and tools.
ISO 14001 Environmental Management System certification is maintained. This ensures there are competent resources and effective systems in place across the business to manage the interface with and impact on the environment.
The Infrastructure Sustainability Council of Australia (ISCA) has developed a set of ratings tools that provide a useful breakdown of key components to consider in sustainable infrastructure planning, design, construction and operation. The key components headings are Governance, Economic, Environment and Social, and these tools will be utilised within the asset management framework to embed sustainability. Specifically, the ISCA tool will be applied to the reduction of energy consumption and carbon emissions; climate change adaptation; taking a lifecycle approach to materials, and applying sustainable procurement principles. Eventually all aspects of our asset management will be assessed against the ISCA framework.
Our sustainable procurement strategy aligns with the Flexible Framework 5 for sustainable procurement and draws from frameworks such as BS 8903 and ISO 20400. It is intended to support Auckland’s emerging circular economy.
All suppliers of products and services to Vector are required to adhere to our Supplier Code of Conduct. This sets out Vector’s expectation on labour / workplace, health and safety, environmental, governance / ethical, community, and supply chain matters.
Sustainability criteria are included in the assessment of all significant purchases made by the business and sustainability is weighted accordingly in tender evaluations.
3.12 EMERGENCY RESPONSE AND CONTINGENCY PLANS As a “lifeline utility” under the Civil Defence and Emergency Management (CDEM) Act 2002, Vector is required to be able to function to the fullest possible extent, even if this may be at a reduced level, during and after an emergency. In line with our obligations, we have a range of plans (detailed in Table 3-5) governing how we will function under an emergency. These plans, which are reviewed and updated regularly, help support network resiliency by driving effective assessment of and response to disruptive incidents affecting network assets. In addition, we actively participate in the development of a CDEM strategy and are a member of:
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The Auckland Lifelines Group
• The National Engineering Lifelines Committee • Various lifeline groups throughout New Zealand
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5 The Flexible Framework is a widely used self-assessment mechanism developed by the business-led Sustainable Procurement Task Force, which allows organisations to measure and monitor their progress on sustainable procurement over time.
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