5 Impact of decisions on climate change 6 Reputation for high standards of and our environment business conduct As a result of our engagement, we know that matters relating On pages 100 to 102 in this governance report, we explain to climate change and the environment are considered how the Board oversees and monitors our culture, including important to all our key stakeholder groups. In the table how our colleagues are expected to comply with our Code below we summarise important climate change and other of Business Conduct, and how both colleagues and suppliers environmental issues and how these are managed and must comply with our Anti-Corruption and Anti-Bribery Policy. communicated to our Directors. Details of actions we are More importantly, we explain how our shared values and taking to understand the impact of climate change and culture guide what we do and how we do things. biodiversity on our business, and to monitor and reduce our environmental impact can be found in the Carbon Reduction Actions/change resulting from Board and TCFD sec44 to 49. A case study example of how the Board has takention of our Sustainability section on pages 7engagement and discussions environmental matters into decision-making can be found on page 109. When making decisions which require balance across different stakeholder interests, the Board is careful to consider each stakeholder group separately and in the context of the long-term interests of the Company. We also Key management • CEO (as Chair of Pathway to Zero Working carefully consider whether a decision is consistent with our responsibility Group, from July 2021). culture and shared values, and to ensure that we maintain the • All other members of the Executive Board Group’s reputation. have specific responsibilities within their functional areas. Principal decisions made by the Board during the period What matters to • Reducing energy usage. where different stakeholder interests were discussed and our stakeholders • Reducing emissions from company considered include: vehicles. • Payment of a one-off ‘thank you’ bonus of £250 to all • Reducing overall GHG emissions. colleagues. • Promoting circular solutions, reducing • Decision to declare an interim dividend in February 2021. impact on biodiversity and scarce natural • Decision to pay rent and service charges due to landlords resources, through product design, closed (albeit monthly in advance rather than quarterly for part of loop products, options to reuse, repair, FY20). take-back and recycle. • Minimising waste, packaging materials • Decisions about repayment of amounts received in FY20 and single-use plastics (across supply and FY21 by way of government support through Covid chain). crisis. • Responsible sourcing – both ethical and • Payment of some element of bonus and LTIP relating to environmental standards (for example, FY20 to Executives. cotton, timber, palmoil, coffee). • Responsible waste management across • Decision to increase warehousing capacity and appoint a our own operations (in-store, delivery new partner to provide fulfilment services for our one-man network distribution and support centres). home delivery service. • Engaging with customers, colleagues, • Increased investment to support our sustainability suppliers and industry groups to promote objectives. and share solutions and best practice. How Board is • Regular presentations on sustainability On pages 108 to 110 we share three case studies that informed topics. show how principal decisions made by the Board involved • Strategy Day discussion topic. considerable debate and discussion and the balancing of • Monthly Board report from the Company competing interests of key stakeholders. Secretary. • Energy, waste and emissions KPIs reviewed by the Board regularly. • Tracking of KPIs against Group sustainability targets quarterly. DUNELM GROUP PLCANNUAL REPORT & ACCOUNTS 2021 107 GOVERNANCESTRATEGIC REPORT FINANCIAL STATEMENTSOTHER INFORMATION