Good Governance
Mainstream is committed to creating long-term value for our shareholders, local communities, and the planet with integrity and respect.
Good governance systems provide the mechanisms for achieving economic, environmental, and social impact, while monitoring risk and identifying new opportunities.
We are integrating sustainability in our company strategy, decision-gate processes, management systems and procedures, including compliance systems and training.
Governance body composition
Sustainability is embedded in the company strategy and operationalised through internal processes and business operations across the organisation.
Starting at the highest level of the organisation, our sustainability targets hold leadership, managers, and employees accountable for environmental and social sustainability, and good governance (ESG).
Effective corporate governance provides the foundation for responsible business conduct, long-term value creation, for the benefit of shareholders, employees, and other stakeholders.
It is a prerequisite for a planet-positive company to succeed.
Our Sustainability Committee supports the Board’s work with overseeing and safeguarding the company’s sustainability targets and progress.
Ingrid Lomelde, Group Head of Sustainability
Clear mandates, defined authorities
In addition to the Sustainability Committee, Mainstream’s governance framework consists of established sub-committees, which operate under a set of clear mandates and defined authorities, as well as a strong Executive Team, which is responsible for the day-to-day management of the Group and its subsidiaries.
The Mainstream Executive Team is led by the Group Chief Executive Officer, who is accountable to the Board of Directors.
Global Development Standard
The Global Development Standard (GDS) sets out Mainstream’s approach to project development and the processes and standards that need to be adhered to.
There are specific documents for Onshore Wind, Offshore Wind and Solar PV so that the standards of each energy type can be given in detail.
The GDS is benchmarked against established international standards and against our Company values.
It is our proprietary development system that has been formulated from our vast in-house expertise in developing projects globally.
Stakeholder Engagement
Mainstream considers the impacts of its operations on the environment and wider society through regular and ongoing engagement with various stakeholders to understand their interests, needs and concerns.
Our main stakeholders are employees, communities, civil society including NGOs, think tanks and business and trade associations, business partners, government, investors, and the media.
They are defined by having an interest in the company, being affected by the impacts of business activities or those who may be able to affect or influence the actions of the business.
We use various channels to reach our stakeholders - allowing us to understand our stakeholders’ expectations of us and to consider these in our business decisions.
Emmet Curley, Head of Communications & Positioning, on stakeholder engagement
Legal and Compliance
Responsible business conduct is a key concern for Mainstream’s Board of Directors.
The Board is engaged in setting ambitions and commitments, targets, strategies and a risk profile for the company and responsible for implementing policies specific to the company’s business.
Mainstream’s Board also receives and reviews updates on key risks, sustainability, compliance and the company’s corporate governance at least on an annual basis.
The Compliance function is responsible for the implementation and day-to-day follow-up of compliance in Mainstream, including risk-based monitoring and controls.
Code of Conduct
Our Code of Conduct is Mainstream’s principal governing document, and a copy is provided to all parties engaged in business with Mainstream.
Anti-corruption
Mainstream has zero tolerance for all forms of corruption, bribery, money laundering, insider dealing and any other financial crimes.
Reporting mechanisms
Mainstream has a procedure in place which encourages reporting of unethical and illegal behaviour and sets out regulations for the protection of whistle-blowers.
Insurance
Natural Catastrophe is a key focus for both risk avoidance and mitigation through design, engineering and management of our projects, and risk transfer through insurance for low probability-high impact events.
Management Systems
In 2022, central parts of our management systems were updated with new sustainability criteria and assessments, including our Enterprise Risk Management system.
Training and awareness
In 2022, anti-corruption training was completed by 100% of Mainstream employees. In 2023, all employees will receive classroom-based integrity training with follow up online Code of Conduct training.
We are committed to the following sustainability frameworks:
- UN Sustainable Development Goals (SDGs) and SDG implementation framework.
- UN Global Compact Sustainability Principles and Sustainable Ocean Principles.
- The OECD Guidelines for Multinational Enterprises and OECD Principles for Good Corporate Governance.
We will transparently share our sustainability goals, results and progress.
