Guide to entity references
Three main entities are mentioned throughout this sustainability report - Alumina Limited, Alcoa Inc. and AWAC. To aid understanding, we have described each entity’s role, as well as the rationale for when these entities are referred to in the report.
AWAC (Alcoa World Alumina and Chemicals) is the joint venture enterprise owned jointly by Alcoa Inc. and Alumina Limited. This enterprise includes global bauxite, alumina and aluminium assets. AWAC references are used to describe:
- the physical assets, interests and operations that form the basis of the joint venture (eg AWAC’s Huntly bauxite mine)
- the outcomes and performance levels from the operation of these assets (eg. AWAC’s production levels, AWAC’s revenue, emissions, resource usage, market position)
- the governance procedures and frameworks that determine the strategic directions, investments and acquisitions of the enterprise (eg the AWAC Strategic Council).
Alcoa Inc. (Alcoa) owns 60 per cent of the AWAC joint venture and is the operating manager of the enterprise. Based on this role, references to Alcoa are used in relation to joint venture partner undertakings as well as actual on-site management of AWAC facilities, including the:
- the management team and employees that carry out day to day activities
- policies, procedures and processes that are applied to the everyday activities at AWAC’s operations.
Alumina Limited is the non-operating partner in the AWAC joint venture of which it owns 40 per cent. As this is an Alumina Limited sustainability report to stakeholders, reflecting the Board and senior management’s perspectives, the organisation is sometimes referred to in the first person (we, ours). Other references to Alumina Limited are made with respect to:
- joint venture partner undertakings
- the governance procedures and frameworks that guide the strategic direction of Alumina Limited, including policies, values and codes
- activities that it takes to protect investor interests and deliver long-term value to Alumina Limited shareholders.