The Environment, Social and Governance Committee is Chaired by Phil Smith and also comprises Maria Marced and Bami Bastani.

Membership

The Board shall appoint the members of the Environment, Social and Governance Committee and one of those members to be its Chair.

The Environment, Social and Governance Committee shall consist of not less than two members and will include at least two independent Non-Executive Directors.  A quorum shall be two members.

The Chair of the Environment, Social and Governance Committee shall be appointed by the Board from amongst the independent Non-Executive Directors.

One of the members of the Environment, Social and Governance Committee shall be IQE’s designated Non-Executive Director responsible for engagement with the workforce and shall report to the Committee on workforce engagement matters.

Appointments to the Environment, Social and Governance Committee shall be for a period of up to three years, which may be extended for two further three-year periods.

Attendance

The Chair of the Committee may from time to time invite certain of IQE’s employees to attend meetings. It is anticipated that the Chief Financial Officer, General Counsel & Company Secretary, Health, Safety and Environments Director and Head of Investor Relations will have standing invitations.

Frequency of meetings

The Environment, Social and Governance Committee shall meet at least twice a year and at such other times as the Chair of the Environment, Social and Governance Committee shall decide.

Duties

The Environment, Social and Governance Committee is responsible for monitoring the execution of IQE’s Environment, Social and Corporate Governance strategy and for overseeing the communication of IQE’s Environment, Social and Corporate Governance activities with internal and external stakeholders.

The Environment, Social and Governance Committee shall:

  • ensure that IQE has a fit-for-purpose Environmental, Social and Corporate Governance strategy and for driving momentum behind the development and implementation of that strategy
  • be responsible for communicating IQE’s position on Environmental, Social and Governance issues
  • ensure that the strategy meets IQE’s short and long term business objectives
  • review the effectiveness of the strategy and the governance for its successful delivery
  • review progress against the objectives set out in the strategy
  • approve projects developed in response to the strategy
  • approve ESG reporting and specifically any reporting and data included in IQE’s Annual Report
  • report to the Board about the Committee’s work and progress against the strategy