Governance
Our targets & objectives
- Creation of a new Board Diversity, Equity and Inclusion Policy
- Launch of our refreshed Code of Conduct
- On-going programme of diversity, equity and inclusion initiatives for all employees
- Annual training for all employees and contractors to ensure all policies and procedures are adhered to
- Strengthen our talent pipeline through regular succession planning discussions for all senior roles
Our approach
We strive to maintain the highest standards of corporate governance and our governing principles are rooted in dealing fairly and openly, creating a place of work that treats everyone equally. We also demand the same of every business in our supply chain.
The Board is collectively responsible for the governance of Ithaca Energy and provides direction and guidance to help shape the strategy and ensure that it is being executed effectively within a structure that is well controlled, mitigates risk and is compliant with corporate and social responsibility.
Code of Conduct
In October 2024, we re-launched our Code of Conduct across the business, which serves as a compass that guides our actions and interactions, ensures that we conduct our business responsibly and with respect for all our stakeholders.
The Code of Conduct is designed to foster a culture of openness, trust and respect, providing clear guidelines for what is expected from each of our employees, covering the following areas: People and Community; Business Integrity and Reputation; and Information and Assets.
Diversity, equity and inclusion
Diversity, Equity and Inclusion (DE&I) are fundamental concepts in creating an open, diverse and inclusive organisation where employees feel genuinely engaged and supported. Diversity and inclusion are fundamental to the well-being of our employees and the success of our business and our aim is that our workforce is truly representative of all areas of society and each employee feels respected and able to give their best. A diverse and inclusive workforce will support our business capabilities, increase engagement and enhance our business results, helping to contribute to fairer and more equitable communities.
During 2024, Ithaca Energy once again took part in the ADHD Foundation’s Neurodiversity Umbrella Project, raising awareness and understanding of neurodiversity. The Group’s DE&I Network, established in 2022, provided further information and opportunities to learn more about neurodiversity, opening up the discussion on neurodiversity and allowing people to understand both the challenges and positive impact that neurodiversity can bring to the workplace to aid in the project’s aim to change the perception of neurodiverse/ neurodivergent people and celebrating all the many strengths that come from thinking differently.
Executive succession planning
Succession planning as well as talent management is of critical importance and is discussed and reviewed regularly at both Board and Nomination and Governance Committee meetings. Having clear and credible plans in place is vital to ensure that all eventualities are covered and that the continuity of the business is safeguarded with disruption minimised as we pursue our strategic plans for growth.
A regular review of the Board and our leadership team by the Nomination and Governance Committee is a key part of this process, as it allows us to assess the effectiveness of our people and identify potential opportunities that we might need to develop, as well as mitigate any risks. Proactive planning will help us prepare for the departure of those in leadership positions, whether through retirement, promotion or another form of exit, meaning that we can rely on competent successors.
Our board and policies
For more information about our board and to view our policies, visit our Governance page.
