New Code of Practice for UK, Irish Boards

The Chartered Governance Institute UK & Ireland (CGIUKI) has launched a Code of Practice underpinned by an accreditation framework to better support effective board performance reviews on issues including financial transparency and climate change. Created with the support on an independent working group – which included the UK Financial Reporting Council (FRC) – the Code is also accompanied by the Principles of Good Practice for listed companies using external board reviewers, which outlines how an organisation should engage with its reviewer to give assurance to its stakeholders. There is also guidance for listed companies about reporting on board performance reviews, balancing between the information needs of stakeholders and avoiding breaching confidentiality. Peter Swabey, Policy and Research Director at CGIUKI, said: “We firmly believe that effective governance leads to better decisions, which is why we are launching this new guidance to facilitate board reviews which are both more transparent and more effective. To achieve this goal, we are taking a multi-pronged approach, through overseeing compliance within the Code of Practice, providing training to board reviewers and those who commission them, and accrediting those who have satisfied us of the standard of their work. This in turn will support both reviewers and boards in achieving the best possible outcomes from board performance reviews.”  

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top