Board Governance
South West Water and its holding company, Pennon Group Plc, is committed to operating to the highest standards of board leadership and governance including transparency of reporting to its investors, customers, regulators and other stakeholders.
The South West Water Board recognises that it is responsible for providing vital services relating to water supply and sewerage disposal and in doing so acting responsibly to ensure the protection of the environment, the sustainability of its operations and the satisfaction of its customers’ needs.
Corporate Governance Code Compliance
Both the South West Water and Pennon Group Boards are committed to the principles on board leadership, transparency and governance published by Ofwat. In addition, South West Water aims to comply with the UK Corporate Governance Code 2018 (the ‘UK Code’) as fully as possible, within the context of being a subsidiary of a listed company, Pennon Group plc, which itself fully complies with the UK Code. Further details are provided in South West Water’s annual performance report and regulatory reporting.
Terms of Reference
South West Water has a fully functioning and standalone Board and Committees. The business of the board with associated Audit, Remuneration, Nomination and Environment, Social and Governance (ESG) Committees covers a full range of corporate issues including strategy, performance, delivery, compliance and governance.
The Board has a ‘matters reserved’ schedule setting out its responsibilities and each Committee has detailed terms of reference setting out its responsibilities and accountabilities.
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| SWW Schedule of matters reserved | The Remuneration Committee | The Nomination Committee | The ESG Committee |
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