Work of the Board of directors during 2022
The Board held 14 meetings during the year, one of which was the statutory meeting. At the statutory board meeting Bengt Kjell was re-elected as Vice Chair of the Board.
The Board regularly conducts an evaluation of its work methods and procedures to ensure that the Board has the requisite expertise and efficient processes for good decisions. The result of the evaluation is reported to the Nomination Committee and provides substantive information on which the Committee can base its work. The Board has determined that the members have appropriate and complementary expertise taking into account Pandox’s operations, and this
opinion is shared by the Nomination Committee.
In 2022 the Board reviewed matters with Pandox’s SVP, Director of Sustainable Business on two occasions in order to educate itself further in this area. Among the matters reviewed were the
EU Taxonomy Regulation, which currently focuses on new production, and its impact on Pandox’s strategy to own and improve existing properties – resulting in investments aimed at sustainability. Also discussed were requirements for sustainability-linked loans (known as green loans), what science-based targets involve and a status report on the establishment of climate goals.
Since the start of 2022 climate adaptation risks have been an important component in the Company’s overall risk assessment. The results of the assessment were reported to the Board of Directors during the year and will be reported on annually along with action plans produced.
In 2022 interviews were conducted with all of the Board members and with the CEO. The conclusion was that the Board is working efficiently and that the members complement each other’s strengths.
The Nomination Committee applied rule 4.1 of the Code as a diversity policy when preparing its proposal for the Board of Directors, the objective being for the Board to be composed of members of varying ages, genders and geographical origins, and to represent a range of educational and professional backgrounds.
Two of the six members of Pandox’s Board are women. The Nomination Committee has determined that the Board of Directors meets the requirements of the Code concerning independence.