Managing our approach

The Board provides oversight and is responsible for approving material ESGS disclosures, reports and initiatives, and considers the company’s climate-related reporting to be fair balanced and understandable.

We recognise that we must conduct business ethically, considering environmental and community goals and being a good employer, as we focus on the growth and success of our business. Our Executive team and Board are fully committed to running Modulaire in a way that our employees, customers, and shareholders can be proud of and take our commitments to all our stakeholders seriously. We already have strong governance structures in place, and moving forward, we will monitor and disclose more ESG-related data and make further improvements to our performance as we listen, learn, and develop.

Our commitment to Sustainability is championed at every level of Modulaire, from our shareholders, Board, senior leaders, and management teams to all our assembly sites and branches. Our ESGS Committee holds meetings to review current performance, share learnings and best practices, and ensure that progress is being made against the targets and objectives across our focus areas. A summary of performance is then presented to Modulaire’s Board.

The implementation and delivery of our ESG strategy is incorporated within our business performance review and internal audit and risk management processes. This helps identify risks and opportunities and assign the appropriate level of accountability to ensure we meet our goals and objectives.

In 2021, we established our ESGS Committee

Twice annual meetings of the ESGS Committee provide a space for the review of performance and progress on climate related issues, which is then reported to the Modulaire Group Board. The ESGS Committee is comprised of nominated members in addition to the CEO, Group General Counsel and ESGS Director. The Committee is responsible for assisting the Board in articulating and developing ESGS strategy, mission, and tactics, as well as providing oversight of sustainability initiatives across the Group (in line with the purpose, values and strategy of the Group as established by the Board). This includes monitoring, disclosures and other reporting on ESGS matters.

The Group General Counsel and ESGS Director are responsible for the ESGS function, policy and strategy, ensuring implementation and the provision of any necessary resources. The ESGS Forum and Working Group report to the Committee and comprise ESGS leads from relevant functions within SBUs such as operations, human resources, and finance. The ESGS Forum and Working Group are responsible for executing ESGS mandates and initiatives outlined by the ESGS Committee.

SBUs have responsibility for co-ordination, supporting, reporting and in the main the delivery of this work. SBUs will ensure that all local policies and procedures are consistent with the Group’s ESGS Policy and all commitments and KPI data reported to the Group is accurate and maintained.The following policies have recently been created or updated to align with the new strategy and frameworks:

  • Anti-Bribery and Corruption Policy
  • Supplier Code of Conduct
  • Gift and Entertainment Policy
  • Code of Ethics
  • Speak-Up Policy
  • Equality Diversity and Inclusion Policy
  • Modern slavery and human trafficking compliance statement
  • ESGS Policy

Progress against our Governance KPIs

We have made significant progress in these areas with eight out of the nine KPIs achieved. Progress within our final KPI is ongoing with targeted achievement for the end of 2022.

KPI Progress Status
Rollout of Code of Ethics and Anti-Corruption Policy and related training to all employees (new starters 3 months). Achieved Not achieved
Establishment of ESG & Sustainability Committee by 2021 Achieved Achieved
Update ESG & Sustainability Materiality assessment Annual Review by 2021 Achieved Achieved
Sustainability & ESG, climate-related risks and opportunities Annual Review Achieved Achieved
Cyber risks to be reviewed with the Board at least once a year Achieved Achieved
Rollout of Cyber Security Policy and related training Ongoing to 2022 Achieved
Signature of the UN Global Compact by 2021 Achieved Achieved
Signature of TFCD by 2021 Achieved Achieved
Group-wide strategy to support the donation and discounting of units to support local community groups Achieved Achieved
Achieved Achieved
Ongoing Ongoing
Not achieved Not achieved

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