STRATEGIC REPORT pages 1 to 69 | 2 |
1 Our purpose | 2 |
2 Investment case | 4 |
3 Financial and operational highlights | 5 |
4 At a glance | 6 |
6 Chair’s statement | 8 |
8 Chief Executive Officer’s statement | 10 |
10 Market context | 12 |
14 Business model | 16 |
16 Strategic priorities | 18 |
18 Case study: Innovation | 20 |
20 Key performance indicators | 22 |
22 Business review | 24 |
34 Sustainability and the environment | 36 |
36 Sustainable investment strategy | 38 |
40 Sustainability strategy: TCFD disclosure framework | 42 |
50 Colleagues and culture | 52 |
54 Relationships with stakeholders | 56 |
56 Section 172 statement | 58 |
61 Non-financial and sustainability information statement | 63 |
64 Risk Management | 66 |
66 Principal risks and uncertainties | 68 |
GOVERNANCE REPORT pages 70 to 125 | 72 |
70 Chair’s Governance overview | 72 |
72 Board of Directors | 74 |
76 Senior leadership | 78 |
78 Governance in operation | 80 |
88 Nomination and Governance Committee Report | 90 |
91 Group Audit Committee Report | 93 |
97 Group Risk and Compliance Committee Report | 99 |
100 Directors’ Remuneration Report | 102 |
120 Directors’ Report | 122 |
125 Directors' Responsibilities | 127 |
FINANCIAL STATEMENTS pages 126 to 233 | 128 |
126 Independent Auditors' Report | 128 |
137 Consolidated statement of comprehensive income | 139 |
138 Consolidated statement of changes in equity | 140 |
139 Consolidated statement of financial position | 141 |
140 Consolidated statement of cash flows | 142 |
141 Notes to the consolidated financial statements | 143 |
218 Statement of changes in equity of the Company | 220 |
219 Statement of financial position of the Company | 221 |
220 Statement of cash flows of the Company | 222 |
221 Notes to the Company financial statements | 223 |
225 Additional information | 227 |
228 Information for shareholders | 230 |
230 Directors and advisers | 232 |
231 Glossary | 233 |
233 Abbreviations | 235 |
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