As is referenced by our Chairman in his statement here, this section describes how the Directors have had regard to the matters set out in section 172(1)(a) to (f) Companies Act 2016 (the "Act"), in exercising their duty to promote the success of the Company for the benefit of its members as a whole.
In July 2019, the UK Corporate Governance Code, reinforced the importance of section 172 of the Act, which requires Directors to have regard (amongst other matters) to the interests of wider stakeholders, as well as:
- the likely long-term consequences of any decision they make;
- the interests of the Group's employees or colleagues;
- the need to foster the Group's business relationships with suppliers, customers and others;
- the impact of the Group's operations on the community and the environment;
- the desirability of the Group maintaining a reputation for high standards of business conduct; and
- the need to act fairly, as between members of the company.
Our Stakeholders
Engagement with all our stakeholders is an important aspect of our business, and we provide examples of our efforts in this regard throughout this Annual Report and Accounts as follows:
Our colleagues are at the heart of our business, and are the driving force behind our success. We provide a working environment where our colleagues are able to realise their potential.
Read more in Our ESG Strategy and Corporate Governance Report.
Communities and the Environment
We are expected to act as a responsible company and employer and to minimise the impact we have on the community and the environment.
Read more in Our ESG Strategy and Corporate Governance Report.
Our shareholders and debt funding providers enable us to access capital to further our business strategy. Our commitment is to protect and manage their investments in a responsible and sustainable way.
Read more in Corporate Governance Report.
We maintain close relationships with our suppliers to enable us to deliver market-leading products and services. We are committed to maintaining the highest ethical standards.
Read more in Our ESG Strategy and Corporate Governance Report.
Government and Regulators
Working closely with regulators and the Government ensures that we maintain a reputation for high standards and business conduct, whilst also ensuring that products and services evolve.
Read more in Our ESG Strategy and Corporate Governance Report.