IP Group PLC

Lobbying Governance

AI Extracted Evidence Snippet Source

IP Group endeavours to conduct business in accordance with established best practice, to be a responsible employer, and to adopt appropriate values and standards. The Group's Board of Directors oversees the Group's approach to ESG and ensures that ESG factors are incorporated into the Board decision making process. Further detail on the day-to-day responsibility for ESG matters is set out on page 46. The ESG and Ethics Committees report to the Executive Committee which, in turn, reports up to the Board. A written report is included in each Executive Committee and Board pack, and relevant issues will be discussed at the Executive Committee and/or Board where appropriate. Furthermore, the Group's Head of ESG attends the Board on a bi-annual basis to present on the Group's ESG workstreams and progress. [...] The governance structure in relation to ESG matters specifically is set out right. The Executive Committee delegates day-to-day responsibility for ESG matters to both the ESG and Ethics Committees and receives regular updates from each committee. The ESG Committee, is chaired by the CEO and attended by the CFOO, Head of Communications, General Counsel UK and representatives from the investment partnerships. The ESG Committee meets quarterly to discuss progress on ESG matters across all elements of the Group's business, which helps to ensure the integration and alignment of the Group's ESG strategy and investment processes with that of the overall strategy of the Group. The ESG Committee is responsible for overseeing and implementing the Group's ESG and sustainability policy. The Group also operates a separate Ethics Committee, which provides guidance on ethical issues and monitors compliance with the Group's Ethical Investment Framework. The Ethics Committee meets twice a year, but will also consider matters that arise at the Group or portfolio company level on an ad-hoc basis where necessary. [...] Our Ethics Committee is chaired by an independent external chair, Professor Gordon Clark and comprises representatives from all parts of our business including Parkwalk Advisors, and Australia. The Ethics Committee is responsible for: - Monitoring our ethical business practices and ensuring that that our business is operated at all times in accordance with our values, culture, and high ethical standards - Monitoring compliance with our Ethical Investment Framework - Providing oversight and guidance on ethical concerns and issues which arise in relation to our business and portfolio companies and facilitating solutions to these matters When considering ethical matters, the Committee has due regard for matters of significant public interest, or which may have a wider potential reputational impact on the Group and raises such matters with the Board as necessary.

https://www.ipgroupplc.com/~/media/Files/I/IPGroup-PLC/documents/ip-group-impact-report2022.pdf

IP Group's approach to ESG including climate change and related policies is overseen by the Board of Directors and accountability for sustainability rests with executive management and, in particular, the Chief Executive Officer. In addition, the Group's existing investment processes take into account ESG matters including matters through the Ethical Investment Framework which is overseen by the Ethics Committee. IP Group's operational oversight of climate change is covered by its ESG and Sustainability Policy. The Group has an ESG Working Group which meets regularly and oversees the implementation of related work. [...] The Ethics Committee advises on our approach, meeting twice a year under the Chair of Professor Gordon Clark. It is also available to meet should a particular question arise.

https://www.ipgroupplc.com/~/media/Files/I/IP-Group-V2/documents/sustainability/reporting/ESG_Report_20210824.pdf

The Board of Directors oversees the Group's approach to ESG and related policies and addresses specific issues if they arise. Day-to-day accountability for ESG rests with executive management and, in particular, the CEO. An ESG Committee meets quarterly to discuss strategy and its implementation. In addition, the Group's existing investment processes take into account ESG matters through the Ethical Investment Framework ("EIF"), which is overseen by the Ethics Committee. In order to ensure effective implementation of the ESG, Responsible Investment and Impact workstreams, two more working groups have been formed – the ESG PLC working group and the Responsible Investment working group. These report into the ESG Committee. [...] The CEO has established a number of committees and working groups to support him in overseeing and monitoring policies and procedures to address issues if they arise, including: Ethics Committee, ESG Committee, RI Working Group, ESG-plc Working Group and Audit and Risk Committee; [...] The Ethics Committee oversees any issues relating to breaches of the Ethics Framework in relation to climate change and investment - this may include whether a technology is being used for a new non-aligned application or assessing an investment from a non-aligned investor.

https://www.ipgroupplc.com/~/media/Files/I/IPGroup-PLC/documents/ip-group-esg-report-2022.pdf