Governance

At Derwent London, responsible and fair conduct is core to our business practice.

Climate change governance

Our Board has the ultimate responsibility for the governance of climate-related risks and opportunities, with day-to-day management delegated to the Executive Committee and senior management. The Board monitors the Group’s progress against our science-based targets, which were independently validated and approved by the Science-Based Targets initiative (SBTi) in 2019. Please see our latest TCFD report for more details on our climate change governance.‍

Supply Chain Responsibility

The protection of human rights and fundamental freedoms is a key ESG priority that we manage both internally and externally.
01/02

Supply Chain Responsibility

The Supply Chain Responsibility Standard (the Standard) sets out our principles and expectations in terms of the environmental, social, ethical and governance issues that relate to our supply chain.
Internally, the Board monitors our culture and values to ensure high standards of transparency and integrity. Externally, our ESG standards are clearly communicated to our supply chains, principally through our Supply Chain Responsibility Standard. This is to ensure we are clear on our zero-tolerance position in relation to, for example, modern slavery issues as set out in our Modern Slavery Statement.
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All suppliers with whom we spend more than £20,000 per annum are required to comply with, and provide evidence of how, they are implementing the Standard. Every two years, we request evidence that our major suppliers are complying via a questionnaire. This extends beyond basic compliance and requires our suppliers to advise how they are embedding best practice into their working practices.
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02/02
01/02

Supply Chain Responsibility

The protection of human rights and fundamental freedoms is a key ESG priority that we manage both internally and externally. Internally, the Board monitors our culture and values to ensure high standards of transparency and integrity. Externally, our ESG standards are clearly communicated to our supply chains, principally through our Supply Chain Responsibility Standard. This is to ensure we are clear on our zero-tolerance position in relation to, for example, modern slavery issues as set out in our Modern Slavery Statement.
01/04

Supply Chain Responsibility

The Supply Chain Responsibility Standard (the Standard) sets out our principles and expectations in terms of the environmental, social, ethical and governance issues that relate to our supply chain.
02/04

Supply Chain Responsibility

Internally, the Board monitors our culture and values to ensure high standards of transparency and integrity. Externally, our ESG standards are clearly communicated to our supply chains, principally through our Supply Chain Responsibility Standard. This is to ensure we are clear on our zero-tolerance position in relation to, for example, modern slavery issues as set out in our Modern Slavery Statement.
03/04

Supply Chain Responsibility

All suppliers with whom we spend more than £20,000 per annum are required to comply with, and provide evidence of how, they are implementing the Standard. Every two years we request evidence that our major suppliers are complying via a questionnaire. This extends beyond basic compliance and requires our suppliers to advise how they are embedding best practice into their working practices.
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04/04
01/02

Responsible payment

practices

Derwent London is a signatory to the Chartered Institute of Credit Management (CICM) Prompt Payment Code, which confirms our commitment to best practice payment procedures and the fair and equal treatment of our suppliers. Unless otherwise agreed, we aim to pay our suppliers within 30 days or in accordance with specified contract conditions. During 2022, our average payment term was 22.6 days. We expect our suppliers to adopt similar practices throughout their supply chains to ensure fair and prompt treatment of all creditors.

fair and

equitable pay

We are transparent about our pay practices which aim to incentivise our employees to achieve our strategy and generate sustainable value for our stakeholders.

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£1,000
One-off payment for lower-paid employees to provide support with the cost of living crisis.
6.1%
Minimum salary increase from 1 January 2023 to all eligible employees.
100%
Of eligible employees received a bonus in 2022.
10%
Allocation of performance share plan (PSP) attributable to energy intensity and embodied carbon reductions.