2023-24 Statement of Corporate Governance Practices
Board of Directors SaskEnergyʼs Board of Directors is led by Board Chair Susan Barber (K.C., C.Dir.) and Vice-Chair Nola Joorisity (FCPA, FCA, CMA, C.Dir.). Board member biographies can be viewed at https://www.saskenergy.com/about-us/our-
better job running our business and complying with the laws and standards that apply to us. As a Crown corporation, SaskEnergy is not legally obligated to comply with the Canadian Securities Administrators (CSA) Governance Guidelines, as we do not have share capital and we are not a reporting issuer. However, we benchmark against these governance practices, including National Policy 58-201 and National Instrument 58-101, the guidelines of the Chartered Professional Accountants of Canada, and observations of the Office of the Auditor General of Canada, Treasury Board of Canada Secretariat and Conference Board of Canada. We apply those guidelines that are applicable. The practices of SaskEnergy are substantially consistent with these standards as published. Board Composition SaskEnergyʼs Board of Directors (the “Board”) is representative of the Saskatchewan community and industry. According to The SaskEnergy Act , the Lieutenant Governor in Council may appoint up to twelve (12) members and designate a Chair and a Vice-Chair. Members represent community/ stakeholder diversity and possess various attributes, including industry expertise, strategic leadership, entrepreneurial and communication skills, integrity, flexibility, initiative and sound judgment. Members are appointed to a fixed term by the Lieutenant Governor in Council, who may renew the term. There are currently twelve (12) people appointed to SaskEnergyʼs Board of Directors. These same twelve (12) people sit as members on the Boards of Directors for each of SaskEnergyʼs three (3) direct wholly owned subsidiary companies. Independence Good governance provides that Board members should be independent. A Director is independent if they have no direct or indirect material relationship with the company. In this reporting period, none of the Directors have direct material contracts or relationships with the Corporation or have received remuneration from the Corporation
company/board-directors. Executive Committee
SaskEnergy has an eight-member Executive Team led by President and CEO Mark Guillet (K.C., CIC.C, ICD.D). Executive biographies can be viewed at https://www.saskenergy.com/about-us/our- company/executive-leadership. Corporate Profile SaskEnergy is a Saskatchewan Crown corporation governed by The SaskEnergy Act (“SaskEnergy” or the “Corporation”). It is a designated subsidiary of Crown Investments Corporation (“CIC”). CIC operates as a holding company for commercial Crown corporations and commercial investments owned by the Government of Saskatchewan. The Government of Saskatchewan (“Owner”) owns SaskEnergy. As of January 1, 2024, the Minister Responsible for SaskEnergy became the Registered Distributor of marketable and non-marketable natural gas in the Province of Saskatchewan in place of SaskEnergy as a result of an amendment to The SaskEnergy Act in December 2023. All of SaskEnergyʼs powers, rights, authority, and obligations with respect to Part 1 of the Greenhouse Gas Pollution Pricing Act became exclusive to the Provincial Crown. In addition, SaskEnergy was directed to undertake the physical distribution and delivery of marketable natural gas or non-marketable natural gas in Saskatchewan as a service provider to the Provincial Crown pursuant to a Directive of the Minister. Our Approach to Governance We are committed to high standards of governance that are consistent with regulatory expectations and evolving best practices. We believe that good governance and being clear about our expectations around governance supports ethical conduct, and allows us to do a
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