STRATEGIC REPORT
47
EXAMPLES OF MATTERS THE BOARD HAS REGARD TO
S172 FACTOR
• 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 to address the changing regulatory environment.
LONG TERM
• Colleague engagement • Diversity and inclusion • Education and training • Modern workplace • Wellbeing
Ensuring colleagues feel proud to work at Just, building our organisational resilience and strengthening our talent and capabilities have been key strategic focus areas for the Board during 2020. “Colleagues and Culture” on pages 40 to 43 details Just’s commitment to colleagues’ interests, including widening our lens on diversity and inclusion, employee 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 44 to 45 details 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. 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. The Board recognises Just’s place in society and has reaffirmed the Group’s purpose “we help 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 recognises the risks to society presented by climate change and is committed to the Group executing plans to support a sustainable environment. Page 18 outlines the Group’s sustainable investment strategy and the Environment report on page 38 details the progress we are making to reduce our impact on the environment. 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 we 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. Our culture is at the heart of how we “get things done” and we understand the importance of leaders setting, communicating and challenging the Company’s culture. 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 our whistleblowing policy annually and the Group has a dedicated whistleblowing hotline that allows staff who suspect fraudulent, illegal or unethical behaviour by co-workers to discuss the matter with 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 recognise that at certain times conditions impact our stakeholders differently. Like any business, there may be times when we have to take decisions that adversely affect one or more of these groups and, in such cases, we always look to ensure that those impacted are treated fairly. See pages 44 to 45 for the various ways in which we engage with our different investor groups.
COLLEAGUES
• Anti-bribery and anti- corruption • Modern slavery • Responsible payment practices • Vulnerable customers
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
• Annual General Meeting • Shareholder engagement • Dividend policy
INVESTORS
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