Governance and Ethics
We are committed to meeting the highest standards of corporate governance and ethics throughout our operations.
We apply the Wates Corporate Governance Principles, which provide guidance for large private companies. These principles guide us in our approach to good corporate governance and disclosures on our purpose and leadership, board composition, directors’ responsibilities, opportunity and risk, remuneration, and stakeholder relationships and engagement.
ESG governance
We know that maintaining all aspects of our environmental, social and governance commitments, and behaving as a good corporate citizen, are essential to the success of the business. ESG is a standing item at quarterly Board meetings and a comprehensive reporting pack is prepared for review in advance, containing a full suite of metrics and KPIs against which our performance is measured. Any high-level ESG related risks are also tabled and considered.
Tax and transparency
We believe in paying our fair share of taxes in line with the UK corporation tax rate. MFG prepares its accounts in line with UK law and in accordance with International Financial Reporting Standards (IFRSs) and UK accounting standards (FRS 1010). Under company law, the directors are required to give a true and fair view of the state of affairs of the company. The taxes we pay are disclosed in our Annual Report.
Setting out our ESG roadmap
We are continually looking at ways to improve how we manage and report on our ESG commitments. In 2021, MFG reviewed its ESG strategy and set a roadmap and targets for the next three years.
Ethical conduct
MFG is committed to conducting its business with integrity, and in a social and ethical manner, complying with the letter and the spirit of the law at all times. Our Core ESG Principles set out our expectations towards our responsibilities and behaviour. In addition, we have a number of internal policies and procedures in place to ensure we conduct ourselves correctly. Each year we update and re-release our employee handbook which includes policies on corporate social responsibility, equal opportunities, anti-harassment and bullying, anti-corruption and bribery, and whistleblowing.
We monitor and review the ESG performance of our suppliers on an ongoing basis to ensure that their behaviours are in line with our own high standards.
Speaking up
We encourage our employees to speak up if they have any concerns relating to inappropriate behaviour, either in MFG or within our supply chain. A whistleblowing policy and procedure is included in the employee handbook. We make it clear that speaking up is treated in the utmost confidence, and that employees can do so without fear of retaliation or reprisal.
Human rights and modern slavery
We respect and acknowledge fully the human rights of every individual. We have a zero-tolerance policy towards child or forced labour and human trafficking, and we’re committed to ensuring neither occurs in any part of our business, whether in our own operations, our supply chain, or amongst our contract managers. This is set out in our Core ESG Principles.
MFG’s Core ESG Principles
We will:
1. Always comply with both the letter and the spirit of the law, wherever it applies.
2. Ensure that we take a responsible approach to investing, recognising the potential impact of businesses on the environment, workers, communities and society, as well as the potential impact of climate change on the businesses in which MFG operates.
3. Ensure that we and our subsidiary companies always respect human rights and ensure no exploitation of child labour.
4. Ensure there is no bribery or corruption in any of our dealings.
5. Act with integrity at all times in all our dealings.
6. Always be non-discriminatory (whether on grounds of gender, race or disability), and adopt equality and diversity in our employment practices.
7. Act responsibly with respect to the environment, aiming for a sustainable approach to the use of resources, avoiding irresponsible disposal of hazardous products and unnecessary waste.
8. Ensure that our management structures and policies reflect the need for transparency, accountability, equality and probity in the management of our businesses.
9. Actively manage ESG considerations and risks effectively.
Aligning our commitments with the UN SDGs
We align our material issues and commitments to the United Nations’ Sustainable Development Goals (UN SDG). We focus on the SDGs where our business can make the greatest impact and where we can affect the greatest change.
Our environment
We are investing in creating a national network of fast and efficient electrical vehicle chargers while reducing our own carbon footprint.
Our people
We want to provide our staff with long-term rewarding careers and provide them with the opportunity to develop their skills.
Health and safety
We have an excellent health and safety record within our own operations. We recognise the responsibility we have towards keeping our customers safe as well, and therefore we also provide a comprehensive health and safety framework and training programme for our contract managers.
Our communities
With a network across the UK, our stations are often a hub for local communities. We do what we can, where we can, to support local communities. In addition to this, our network provides the opportunity to make a real difference to raising funds on behalf of important charity campaigns.
