We are proud to provide a sustainable, affordable, clean and safe water supply and to manage and treat the waste water returned to us in a way that protects the environment.
The Board is committed to achieving high standards of corporate governance. The following sections describe how the Company applies the Revised Combined Code on Corporate Governance published in July 2003 and amended in 2006 and 2008 (the “Revised Combined Code”).
The Board recognises the importance to the Company and its shareholders of good corporate governance, which it regards as an integral part of the running of the Company. The Board endeavours to comply with the principles and provisions of the Revised Combined Code. All directors and relevant employees are trained on the spirit and detail of the current standards of corporate governance and any related guidance and compliance is closely monitored.
Following a thorough review of the Company's compliance against the Revised Combined Code, the Board considers that its adherence to the principles of the Revised Combined Code is, generally, good. Any non-compliances arising from time to time are reported and where relevant explained, in the Corporate Governance Report of the Annual Report and Financial Statements of the Company.
The Company's principal operating subsidiary, Northumbrian Water Limited ('NWL'), which is a licensed water and sewerage business, operating within its own regulatory framework established under the Water Industry Act 1991, also endeavours to maintain its own high standards of corporate governance and comply with the principles of good corporate governance.