Sustainability and our board
Sustainability governance at Pearson
The Pearson board of directors has ultimate responsibility for considering all sustainability issues as part of our business strategy. The board has established audit, remuneration, nomination, and reputation and responsibility committees which have written terms of reference. For more information about these committees, see p68 in the Annual report.
Reputation and Responsibility Committee (RRC)
The RRC is a formal committee of the board providing ongoing oversight and scrutiny across all of our responsible business activities, including communication strategies and policies and processes related to reputational issues and people.
Key activities overseen by the committee in 2015 included:
- The launch of Project Literacy
- Progress towards external efficacy reporting
- Plans to link the UN’s Sustainable Development Goals to our business model
- Ongoing work around Pearson’s brand and culture
- Reputational risk management.
In 2016, the committee will continue to oversee Pearson’s progress in embedding sustainability and social impact into our strategy and business model, including implementation of our new sustainable plan.
Responsible Business Leadership Council (RBLC)
The RBLC is an internal governance group of senior executives from across the business. Led by the Chief corporate affairs and marketing officer, the RBLC meets quarterly to provide guidance and input on sustainability strategy and activities.
Key activities in 2015 included advising on:
- Sustainability strategy and reporting
- Global standards and policies
- Risks and opportunities related to the efficacy agenda
- Values and culture
- Initiatives including Project Literacy and Every Child Learning.
In 2016, the committee plans to discuss issues including sustainability goals and targets, product affordability and accessibility, reputation management, as well as social impact programming.
The Audit committee oversees the accounting, financial reporting, internal controls, and risk management processes of the company. A key role of the committee is to provide oversight and assurance to the board regarding the integrity of the company’s financial reporting, internal control policies, and procedures for identifying, assessing, and reporting risk. Some material sustainability issues, like data privacy and security, have also been identified as significant business risks and the committee is carefully monitoring these to ensure there is adequate visibility, policies, procedures, and controls.