ScottishPower Renewables operates as part of the ScottishPower Group in the UK and as part of the Iberdrola Group world-wide. As such, we maintain a continuously updated Corporate Governance System, which you can learn more about here.
The corporate governance system of ScottishPower Renewable Energy Limited is known as the ScottishPower Renewables' Governance and Sustainability System, the latest edition of which was adopted by the company’s Board of Directors on 24 March 2021.
The Governance and Sustainability System is updated from time to time in accordance with the ScottishPower group’s decision-making policies and procedures to reflect any updates made to the policies, strategies and general guidelines of the ScottishPower group’s ultimate shareholder Iberdrola, S.A. (Iberdrola Governance and Sustainability System) to the extent applicable to the Governance and Sustainability System.
The following is a general explanation as to how the Governance and Sustainability System of ScottishPower Renewable Energy Limited and its principal subsidiaries, as with any developed corporate governance system, is structured in practice.
Please read our Introduction to the Governance and Sustainability System (approved by the Board of Directors of ScottishPower Renewable Energy Limited on 24 March 2021) for further information regarding the origin and driving ideas behind the ScottishPower Governance Sustainability System, which are principally based on that of Scottish Power Limited’s ultimate shareholder Iberdrola, S.A., as well as its five composite chapters, being: (i) By-Laws, (ii) Purpose, (iii) Environment and Climate Change, (iv) Social Commitment, and (v) Corporate Governance.
ScottishPower Renewable Energy Limited, as head of business companies of the Iberdrola Group that pursues the activities of renewable energy industry, holds the corresponding executive responsibilities, taking charge of the day-to-day management and effective administration of the business, as well as its ordinary control, through its Board of Directors and its management bodies.