Governance and policies.

CR Governance Structure

The way that our governance structure hangs together can be summarised here

Input

DECISION MAKING

OUTPUTS

External knowledge Building on emergent and developing trends

Group Board

Strategic Planning Process and Macro Drivers

Stakeholder Feedback on Business Performance

GCRE POLICYCOMMITTEE (EXCO)

Materiality Process

GCRE DeliveryCommittee

3 Year Published Group wide Targets

Delivery SubCommittees

Annual Sustainability Report

QUALITY ESG Risk and Reputation Analysis intoGroup Risk Pack

Groupwide Policies Implemented Externally and Published

GCRE Policy Committee

This committee is made up of our full Executive Committee chaired by the Group CEO and meets once a year to consider:

  • The Group’s CRE Corporate Responsibility and Ethics (CRE) policy and targets including setting the material Environmental, Social and Governance (“ESG”) campaigns for the Group based upon stakeholder feedback.
  • The Group’s market position on ESG performance and our material response.
  • The Corporate Responsibility and Ethics Delivery Committee with a brief, including the Group’s annual external targets.

GCRE Delivery Committee

The Group Corporate Responsibility and Ethics Delivery Committee (GCRE) meets at least four times a year and consists of people who own ESG Targets on behalf of the Group. It is a committee of the Group Board.

The Committee’s role is to:

The current members of the GCRE Delivery committee are as follows

  • Graham Precey – Head of Corporate Responsibility and Ethics (Chair)
  • Sarah Totham – Head of Leadership Development
  • Nick Manns – Unite National Officer
  • Laura Mason – Director, Legal & General Capital
  • Daniel Keyworth – Head of Procurement
  • Nick Franklin – Chief Operating Officer of Mature Savings
  • Bill Hughes – Managing Director – Legal & General Real Assets
  • Sara Heald – Head of Community Investment
  • Jeanette Andrews – Corporate Governance Manager – LGIM
  • Philippa Scott – Director of Risk and Compliance
  • Simon Burke – Group Commercial Director
  • Faye Thorpe – Regulatory Risk Director
  • Jenny McCarthy – Assistant Company Secretary

We have formed a number of sub-committees to deliver against targets as and when required.

  • Group Health and Safety Committee – Chaired by Ian D Smith – Head of HR, Shared Services
  • Group Environment Committee – Chaired by Simon Burke, Group Commercial Director
  • Group Charity Committee – Chaired by Jackie Noakes – Managing Director of Mature Savings
  • Sustainable Property Investment Committee – Chaired by Bill Hughes – Managing Director of Legal & General Property
  • Group Equalities, Diversity and Inclusion Committee – Chaired by Paul Stanworth, Managing Director, Legal & General Capital

Stakeholder Feedback Process

The Group Corporate Communications Director reports to the Group CEO and has responsibility for the stakeholder engagement process. The (PDF:) Group Ethics Policy (PDF, 587KB) contains the standards by which our key stakeholders can expect to be treated when dealing with Legal & General.

There are a number of ways we monitor stakeholder feedback

On a weekly basis the Group Communications function discusses stakeholder feedback from the previous week and the week ahead.

On a quarterly basis we take a sounding from a number of stakeholders to understand their perception of our business. This is fed into the Group Risk board management information pack and contains feeds from a number of sources on the Group’s performance as well as its Principle Balance Sheet investments including

  • Media reputational analysis
  • Non-Governmental Organisations’ (NGO’s) views of our performance
  • Employee engagement survey data
  • Customer Satisfaction metrics
  • Corporate Governance activities

The Group Risk Committee considers these as part of their on-going risk monitoring. The Group Corporate Responsibility and Ethics Committee use this information to adjust external ESG Targets as needed.

The Boards involvement in sustainability

The Group Corporate Responsibility Committee is a committee of the Group board and provides at least a yearly update on the Environmental, Social and Governance Performance of the Group.

The Group Board is given a yearly update of our latest materiality position with key stakeholders a summary of the Group’s key deliverables (PDF) and oversight of the forward looking targets.

We provide a summary of the discussions with the board in our Transparency report.

All of the board come to our yearly Chairman Awards.

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