We’re an independent not-for-profit, a private company limited by guarantee and do not distribute any surpluses but reinvest them in our services. Our Board of independent NEDs and two executive directors delegates certain functions to the Appointments & Remunerations Committee, Finance, Risk and Audit Committee and HR Working Group. The Board meets regularly with the Guarantors and we have a RACI framework in place to ensure clear accountability and responsibility lines between the two bodies, together with consultation and information arrangements. Our constitution means no one has a representative role on Board, including staff. Board directors are bound by a Code of Conduct reflecting public service expectations.
Board is accountable for the governance of our schemes and services, ensuring they’re evidence-based and remain uninfluenced by interest groups.
We ensure we’re abreast of developments in packaging design and resources and waste infrastructure through our PREP Technical Advisory Committee (TAC) consisting of independent experts drawn from across the packaging value cycle and the research community.
We use our resources creatively and responsibly, depositing our Reserves in Treasury accounts with Triodos Bank so that the funds can be invested in projects with a positive impact on society and the environment.
Our Labelling Rules and the governance of our scheme are in line with ISO14021 and were determined by an independent Steering Group comprised of independent experts from across the packaging value cycle, assembling and reviewing a broad Evidence Base. This work is now overseen by the PREP TAC, reporting to Board. We undertake compliance audits in line with ISO19011 assured processes through our supplier Ricardo Energy & Environment which includes quarterly training to keep up-to-date with developments.
Our Scheme of Delegations, internal controls, conflicts register, Board Code of Conduct and Staff Handbook ensure that we operate ethically and accountably in all we do. The Senior Independent Director is the point of contact for whistleblowing and any complaint where the Executive Chair or Executive Director have a conflict. We’re working on a Supplier Code so that we can be sure this ethical approach extends to outsourced operations too.
The Board oversees our work on the SDGs and from 2020/21 will take a Triple Bottom Line approach to measuring company performance, using third party tools and validation wherever possible. We will be transparent and open in reporting these results annually.