We create value and deliver on our strategy by transforming the stocks of our capital through our business activities. We seek to operate responsibly and sustainably, thereby maximising value creation and minimising any negative impacts.

Apart from creating and preserving value, there are instances where value is diminished through our activities.

When making decisions on how to manage our business, we consider the trade-offs between capitals: we aim to maximise positive outputs and outcomes and limit negative outcomes. These are highlighted in our business model.

Making strategic trade-offs is key to ensuring we are well positioned for the future. We assess the availability and quality of capital inputs, balance the short- and long-term objectives and take tough decisions to create long-term value.