1
Independent oversight
An appropriate balance of investor representation, independent directors and relevant expertise.
Governance
Proposed governance principles for trust, commercial discipline, risk independence and accountability
QP Climate
Governance designed for trust
Final arrangements will be subject to Nigerian regulation, investor agreements and regulatory approval.
2
Clear decision rights
Documented mandates, delegated authorities and rigorous credit and investment review.
3
Risk independence
Risk and compliance functions with authority to challenge, monitor and escalate.
4
Transparent reporting
Financial, portfolio, climate and development performance reported with appropriate assurance.
5
Conflicts management
Formal declaration, recusal and conflicts-of-interest procedures.
6
Independent assurance
External audit and proportionate assurance of selected impact information.
Proposed governance organs
- Board of Directors
- Board Risk Committee
- Board Audit and Compliance Committee
- Board Credit and Investment Committee
- Board Nomination and Remuneration Committee
- Executive Management
- Asset and Liability Committee
- Environmental and Social Risk function
- Internal Audit and independent evaluation capability
Reference frameworks
Subject to applicability, the institution intends to draw on the IFC Performance Standards, Equator Principles and IFRS Sustainability Disclosure Standards. IFRS S2 incorporates the architecture of the earlier TCFD recommendations.