FINANCIAL STATEMENTS
STRATEGIC REPORT
GOVERNANCE
S172 FACTOR
EXAMPLES OF MATTERS THE BOARD HAS REGARD TO
• Company’s purpose • Strategy • Business model • Risks including emerging risks • Key stakeholders • Regulatory framework
The Board has regard to all our stakeholders when developing and executing our strategy. Our business model is reviewed at least annually taking into consideration our Company’s purpose, strategy, key stakeholders and emerging risks, and addressing the changing regulatory environment.
LONG TERM
• Colleague engagement • Diversity and inclusion • Education and training • Modern workplace • Wellbeing • Anti-bribery and anti- corruption • Modern slavery • Responsible payment practices • Vulnerable customers
Ensuring colleagues feel proud to work at Just, with outstanding levels of engagement, embracing our new ways of working trial aligned to organisational resilience and strengthening our talent, capabilities and inclusivity have been key strategic focus areas for the Board during 2021. Our Colleagues and culture report on pages 30 to 35 details Just’s commitment to colleagues’ interests, diversity and inclusion, colleague engagement, education and training, wellbeing and building a modern workplace. The Board is committed to fostering the Company’s business relationships with suppliers, customers and other stakeholders. Pages 36 to 37 detail our relationships with our principal suppliers and customers, as well as other stakeholders, and how we engage, what matters to them and how we have addressed any challenges they have raised with us. Our supplier contracts are being progressively updated to ensure suppliers are committed to ethical business practice with regard to anti-money laundering, anti-bribery and corruption, whistleblowing and anti-slavery and human trafficking laws. Ensuring the fair treatment of vulnerable customers continues to be an important area of focus for the Board. As part of our vulnerable customer programme, the Group vulnerable customer policy was updated and adopted by the Board during the year. The Board recognises Just’s place in society and has reaffirmed the Group’s purpose of helping people achieve a better later life. The Group has invested in our communities and promoted helping older adults get active for a healthier life through our programme, “Just Get Active”. The Board adopted Just’s sustainability strategy in 2021 with initiatives being developed to deliver the Group’s sustainability ambitions, which includes leaving a responsible footprint. Pages 22 to 23 outline the Group’s sustainability strategy and how it aligns with Just’s strategic priorities. We understand that we operate in society and it sets its expectations and requirements through legislation and regulation. We receive feedback from stakeholders including our regulators, the PRA and FCA, as well as other relevant bodies. The Board listens actively to them, taking stakeholders’ feedback into account when making judgements and taking decisions. Our intention is to ensure that Just and our colleagues operate the business in an ethical and responsible way. A healthy corporate culture is the cornerstone of high standards of business conduct and governance. Further work was undertaken in 2021 to define Just’s culture and identity. Everything Just and our colleagues do should be delivered sustainably and is underpinned by clear behaviours of always adapting, collaborative, dynamic and for the customer, which we collectively call the Just way. For our suppliers we have a Group procurement and outsourcing policy, ensuring tender processes are fair and transparent and suppliers receive feedback on submissions. The Board has overall responsibility for establishing and maintaining the Group’s systems of internal control and for undertaking an annual review of the control systems in place to ensure they are effective and fit for purpose. The Board reviews and approves Just’s whistleblowing policy annually. The Group has a dedicated whistleblowing hotline and portal that allows colleagues who suspect fraudulent, illegal or unethical behaviour by co-workers to report the matter through an independent and confidential service. We receive capital investment from shareholders and from debt investors and without their investment we would not be able to achieve our purpose. We maintain regular dialogue with our shareholders, potential investors and research analysts to give them an opportunity to learn more about Just’s strategic priorities, trading conditions and other factors affecting our business. Our Annual General Meeting provides another opportunity for investors to meet with our Directors. See pages 36 to 37 for the various ways in which we engage with our different investor groups.
COLLEAGUES
BUSINESS RELATIONSHIPS – SUPPLIERS AND CUSTOMERS
• Community programme • Climate change • Environmental impact • Sustainable investments
COMMUNITY AND ENVIRONMENT
• Just Group brand • Culture and values • Awards and recognition
HIGH STANDARDS OF BUSINESS CONDUCT
• Internal controls • Whistleblowing
• General meetings • Shareholder engagement • Dividend policy
INVESTORS
39
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