Just Group plc | Annual Report and Accounts 2024
44
sustainability: TCFD continued
SUSTAINABILITY AND CLIMATE CHANGE GOVERNANCE The Group Board is responsible for setting the Group’s sustainability strategy and targets. The Group Chief Executive Officer (“CEO”) is responsible for delivery of the sustainability strategy and associated emissions targets, delegating responsibilities, as appropriate, to management and various governance bodies shown in the table below. The Group Chief Risk Officer (“GCRO”) has been appointed as the executive sponsor for sustainability and holds the designated Senior Management Function for climate change. The Group Board also includes a sustainability sponsor responsible for ensuring the Board is appropriately discussing sustainability matters including climate.
A section of the Group Executive Committee and the Group Board meetings are dedicated to sustainability on a quarterly basis. More information on the activities of the Group Board in the reporting year can be found in the Governance section on page 82. Our governance structure is regularly reviewed to ensure it remains appropriate for the business and ensures sustainability matters are given sufficient time and debate at the appropriate level. The frequency and level of oversight are listed in the table below:
Focus Areas
Frequency
Chair/Owner
Responsible lead 1. Sustainability lead (Non-Executive Director)
Responsible for championing sustainability at Board level. Meets regularly with executive management to discuss sustainability initiatives and emerging developments. Executes the sustainability strategy approved by the Group Board and delegates responsibilities, as appropriate. Oversees and communicates sustainability initiatives to the business.
Ongoing Quarterly
Mary Kerrigan
2. Group Chief
Ongoing
David Richardson Alex Duncan
Executive Officer
3. Executive Sponsor for Sustainability
Ongoing
Committees 4 Group Board
Sets sustainability strategy and targets.
Annual review
Board Chair
Receives updates on sustainability initiatives and activities. Approval of the annual report which includes sustainability reporting. Oversees new sustainability initiatives including emissions reduction strategies. Monitors progress of ongoing sustainability initiatives. Oversees progress to reach diversity and inclusion targets. Reviews any proposed changes to diversity and inclusion targets. Tracks sustainability management information and progress against the Group Strategy Execution plan. Reviews the appropriateness and clarity of climate-related disclosures and compliance with financial reporting standards in the annual report. Considers sustainability as part of the skills gap analysis and any impact on succession planning for future director appointments. Receives an update on the status of various climate risk actions and any concerns about the delivery of the actions. Oversees sustainability and climate-related risks in the full Group ORSA and quarterly ORSA updates. Considers sustainability and climate-related risks within the Risk Appetite Framework.
Quarterly
Annual
5. Group Executive Committee
Quarterly
Chief Executive Officer
Quarterly Quarterly Annual Monthly
6. Group Audit Committee
Annual
Chair of Audit Committee
7.
Group Nomination and Governance Committee
At least annually
Board Chair
8. Group Risk
As required
Chair of GRCC
and Compliance Committee (“GRCC”)
Annual and quarterly
At least annually
9.
Group Executive Risk Committee
Considers the reports for GRCC prior to submission.
As per 8 above
Chief Risk Officer
10. Remuneration Committee
Formulates and monitors performance-related criteria for Executive Directors and Senior Management (see page 109), which include relevant sustainability targets. Approval of the Responsible Investment Framework, which forms part of the investment framework. Oversight and review of ongoing adherence of investment activities to meet the Group’s net zero commitment.
Annual
Chair of Remuneration Committee Chair of JRL and PLACL Investment Committees
11. JRL and PLACL Investment Committees
Annual
Quarterly
Oversight and review of climate risks impacting the investment portfolio.
Quarterly
12. JRML Board
Oversight of approach to reduce the emissions associated with the LTM portfolio to support our net zero commitments. Oversight and review of climate risks impacting the LTM portfolio.
Quarterly
Chair of JRML Board
Annual
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