The sustainability committee has ultimate oversight and responsibility for sustainability.
This sub-committee of the Board meets on a quarterly basis. The committee considers key environmental and sustainability matters, recommending how to improve our position to the Board. This includes matters relating to our sustainability strategy, targets and progress and climate change.
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We continue to strengthen our governance around climate change to make sure it’s robust, comprehensive and proportionate to our strategic initiatives. This means we can continue to have a positive impact on our stakeholders.
The Board reviews and challenges climate-related risks as part of the risk management update.
The group risk committee (GRC) oversees the effectiveness of internal controls, risk management and compliance processes, including those connected to climate-related risks. The GRC also meets bi-annually for a detailed risk management update, which includes an in-depth review of the risk register, including climate-related risks.
The sustainability committee has oversight and responsibility for sustainability and climate, including climate-related risks and opportunities. The sustainability committee will escalate to the Board any material risks or opportunities deemed to impact strategy, business forecasting or risk management.
The Chief Financial Officer is responsible for managing and overseeing financial risks linked to climate change.
The Chief Risk Officer is responsible for ensuring our regulated entities meet regulatory expectations, including those in relation to climate-related risk management and disclosures.