Governance

The Audit and Risk Committee assists the Board in discharging its responsibilities for the integrity of the Company’s financial statements, risk management, assessment of the effectiveness of the system of internal control and the effectiveness of Internal and External Auditors.

The Corporate Sustainability Committee provides guidance and direction to the Company’s corporate sustainability programme based on our Code of Conduct, Doing the Right Thing - the Severn Trent Way.  It also reviews the Group’s non-financial risks and opportunities.

The Nominations Committee assists the Board by keeping Board composition under review and makes recommendations in relation to Board appointments. The Committee also assists the Board on issues of Executive Director succession and contingency planning, conflicts of interest and independence.

The Remuneration Committee determines the Company’s policy on the remuneration of Executive Directors, other members of the Executive Committee and the Chair of the Board. The Committee also reviews workforce policies and practices.

Please note that the Company’s latest Remuneration Policy is contained within the 2024 Annual Report and Accounts.  The Policy grants the Committee discretion to determine that LTIP awards continue to be capable of vesting for good leavers.

The Treasury Committee provides oversight of treasury activities in implementing the Group’s Funding and Treasury Risk Management plans approved by the Board. The Committee also reviews and approves the Group Treasury Policy Statements and ensures that these are applied consistently.

The Executive Committee oversees the development and execution of Severn Trent’s strategy.

It also has accountability for achieving business results.