Our Board ensures effective arrangements are in place for assurance, risk management and internal control. The board composition is prescribed in the Energy Act 2013, and all board members must act in the best interests of the ONR and in accordance with the Seven Principles of Public Life. The Framework Document between the ONR and DWP, as our sponsoring department, clarifies roles and responsibilities.
The board receives robust and consistent assurance across all our purposes and activities. It is supported by three committees: ARAC; Security Committee; and the Remuneration and Resilience Committee.
Our Integrated Audit and Assurance Framework provides a single integrated framework for managing our audit and assurance activity, introducing standard reporting and control disciplines aligned with the Treasury’s Three Lines of Defence model.
We routinely report the outcome of audit and assurance activities to our board and through our Annual Report and Accounts. Those activities are undertaken independently of our operations to ensure they remain objective, to our board, its committees, as well as our CE/CNI and Senior Leadership Team. Those activities include working collaboratively with the Government Internal Audit Agency (GIAA).
Environmental, Social and Governance (ESG)
ESG is a concept that originated in the financial sector to capture the non-financial factors that socially conscious investors use to differentiate between different investments. However, it is now widely used across all sectors, including the public sector.
Together, ESG represents the factors that describe an organisations behaviour towards the environment, and the communities and stakeholders it interacts with.
Our approach to ESG aligns with our broader mission to protect society by securing safe nuclear operations. While our mission is focused on the protection of society, we also operate within a broader context of public interest, sustainability, and responsible governance.
Our approach comprises of a clear ‘ESG vision’, supported by ESG-related commitments and aims which are ambitious, yet proportionate, set us up for success, and are resilient to change. Our approach to managing ESG-related risks and opportunities is done so in accordance with our Risk Management Framework.
For further information on our approach to ESG, please contact ONR.