Governance is about ensuring our practices align with shareholders’ interests as well as those of communities, our supply chain and end-user customers. It requires us to ensure Novuna is compliant with all relevant laws and regulations, transparent in our accounting practices and has the appropriate controls in place to deliver fair outcomes to our stakeholders.

We firmly believe that high standards of corporate governance underpin our effective operation and long-term success.

Our Board

The structure of our Board is designed to maintain a balance of responsibilities, accountabilities and decision-making for our business. By having at least 50% of our Board (excluding the Chair) as independent, non-executive directors, we maintain compliant with laws and regulations and we are transparent in our accounting practices.

Governance Sustainability

To ensure we embed sustainability into our business, we have set up executive sub-committees to focus on our progress our towards Net Zero targets and our contributions to the UN Sustainable Development Goals (SDGs).

Novuna’s ESG Environmental Committee looks at climate strategy and opportunities. Our ESG Social and Human Committee covers Human Rights, Inclusion and Diversity and our wider contributions to society, including charity and volunteering.

The Executive Risk Committee focuses on managing climate-related risk. It works closely with the ESG Environmental Committee and is responsible for escalating relevant climate risk matters to the Audit & Risk Committee.

Human Rights

As part of our commitment to conduct business ethically and meet our Human Rights obligations, we published our latest Human Rights policy in September 2022. The ESG Social and Human Committee reviews progress and reports quarterly, to ensure our legal and ethical obligations are met both within our business and our supply chains.

All Novuna suppliers engaged by Procurement must meet our Supplier Code of Conduct (or equivalent) and demonstrate compliance with both the Modern Slavery Act and/or applicable UK legislation. Our Procurement team maintains relevant contractual clauses to cover modern slavery and human trafficking and ensure that the Real Living Wage is paid. As part of the procurement process, we also insist our suppliers provide evidence of their environmental policy and carbon reduction approach.