Strategic Report
Governance Report
Financial Statements
Other Information
Governance structure for climate-related matters
Management Committee and COO Risk Committee (“ManCo”) is responsible for oversight of ESG and climate-related risks and opportunities in the Group’s operational activities. The Committee also maintains oversight of reported incidents relating to climate and environment. Chair: Chief Operating Officer. The Investment Committee oversees the execution of the firm’s responsible investment policy, which includes climate- related considerations and is updated on an annual basis. Chair: External Adviser. ESG Advisory Committee (“ESGAC”) is a newly established Committee and is comprised of senior business representatives to drive forward the ESG/responsible business agenda for the Group, spanning operations, investments and people and community. Members include representatives from Central Research, Risk, HR, Marketing, Operations and Workplace and Facilities. The group meets no less than four times a year. Chair: Co-CIO and Chief Operating Officer.
Board. The Executive Committee delegates responsibility to a range of management committees that operate across the Group and are accountable for managing the areas of the business that may affect, or be affected by, climate change. The Remuneration Committee incorporates climate-related goals into the long-term incentive plans (“LTIP”) of the Group’s Executive Directors. The Risk and Compliance Committee reviews quarterly reports on key risks impacting the business. The Audit Committee oversees the principles, policies, and practices adopted in the preparation of the Financial statements of the Group and assesses whether annual Financial statements comply with statutory requirements including TCFD disclosures. The Executive Committee (“ExCo”) provides support for the oversight and management of the strategic and operational authorities delegated to the CEO by the Group Board. Chair: CEO. The Executive Risk Management Committee (“ERMC”) has responsibility for ensuring the effective management of risk throughout the Group, in line with the risk appetite and risk management framework approved by the Board. Chair: Chief Risk Officer.
We recognise the importance of governance in establishing transparency, accountability, and good conduct. Effective governance enables us to better manage risks and make business decisions accordingly, leading to improved investor confidence. The section below outlines how our governance structure helps us address climate-related risks and opportunities. The Board bears ultimate responsibility for the oversight and management of the business and is assisted in this by its Committees. During the year the Board and its Committees have received updates on climate-related matters, including an external presentation on climate-related risks and opportunities. In addition, the TCFD report has been reviewed by the Audit Committee and signed off by the Board. The regular monitoring of progress against climate goals and targets is delegated to the Investment Committee with the Co-CIOs able to escalate any matters that require further attention to the CEO directly. The Board has delegated overall responsibility for the delivery of the Group’s strategy to the Group CEO and the Executive Committee who have ultimate responsibility for the integration of climate risks and opportunities across the business, and for bringing climate-related matters to the
Brooks Macdonald Group plc Annual Report and Accounts 2024
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