Corporate Governance & Accountability
Governance
- Publish a code of ethics.
- Maintain a code of conduct.
- Compose boards with the requisite number of non-executive directors and a chairman independent from the role of chief executive
- Publish the criteria for determining the expertise which board members need to guide the strategic direction of the organisation, including issues related to sustainability risks and opportunities.
- Publish board level processes for overseeing the organisation’s identification and management of financial and other elements of sustainability risk and opportunity.
- Ensure oversight of all environmental and social risk issues are covered by one or more relevant board sub-committees .
- Establish a stakeholder governance advisory board.
- Link executive compensation to the achievement of the organisation’s financial and non-financial goals.
- Establish an organisational structure and responsibility of key individuals which provides for the management, implementation and audit of both financial and non-financial policies.
- Develop and pursue policies and internal standards relevant to the sustainable performance of the organisation.
- Promote a culture where corruption and payment of bribes are unacceptable.
- Provide internal reporting mechanisms to allow anonymous reporting on any breaches of the code of ethics.
- Disclose donations made to political parties or related institutions.
Compliance
- Establish and maintain legal registers.
- Ensure compliance with all relevant national and local regulations.
Stakeholder Engagement
- Establish process for identifying stakeholders and engagement strategies (type and frequency of engagement by stakeholder group)
- Communities directly affected by a proposed project development will be consulted to provide them with the opportunity to express their views on project risks, impacts and mitigation measures. Consultation will be free, based on the prior disclosure of relevant and adequate information, will begin early in the project development process in order to establish a baseline and will focus on the social and environmental risks and adverse impacts of such a development. The output of such consultations will be a program of proposed measures and actions to address identified risks which will be implemented on an ongoing basis and be flexible enough to address ensuing risks and impacts which may arise during the development process1.
- Project developments will establish a grievance mechanism for receiving and facilitating resolution of affected communities’ concerns and grievances.
- Disclose performance against such agreed programs with affected communities where applicable.
External Reporting
- Disclose major instances of non-compliance.
- Integrate sustainability reporting into annual reports.