###### 3.1 Sustainability governance
###### CHANGES TO GOVERNANCE
The Board collectively has overall accountability for climate risk and wider sustainability matters which are also addressed by the Group Executive Committee (GEC).
The GEC reviews and
sets strategic priorities
and targets, as well as
overseeing how risks
are being managed.
Sustainability represented
on GEC with dedicated
time quarterly focused
on sustainability.
###### Figure 3.1.1
Reports to PLC Board
The GEC responsibility for climate-related risk resides with the Chief
Financial Officer (CFO) who is responsible for delivering the strategy.
Asset plans, risks and targets are monitored by the GEC who receive
information and updates from the newly appointed Director of Audit,
Enterprise Risk and Sustainability. The role replaced the role of the
Head of Sustainability during 2021.
As part of its broader strategy to make the organisation more agile,
the Board approved changes to the organisational governance
structure for sustainability in 2021. These changes included:
|GROUP E COMMIT|XECUTIVE TEE (GEC)|
|---|---|
|Each business stre is represente|am and jurisdiction d on the GEC|
|CHAIRED BY CH|IEF EXECUTIVE|
###### 1. New committees
The Group Management Committee and the Group Investment
Committee, both sub committees of the GEC, were set up in
2021. Both these committees ensure that a 'sustainability
culture' is embedded in the Group's activities.
|INVESTMENT & DISPOSAL COMMITTEE|Col2|
|---|---|
|||
|GROUP INVESTMENT COMMITTEE (GI|C)|
|Responsible for Group's portfolio and investment strategy, and approval of capital deployment, investments, disposal developments and refurbishments|s,|
|GRO|UP MANAGEMENT COMMITTEE (GMC)|
|---|---|
|S|upport and monitor Group's operational performance, and set, monitor and implement Group Leasing Policy|
|Director of Audit, Enterpr Responsible for Group wide sustainab|ise Risk and Sustainability ility, supported by sustainability team|
|---|---|
###### 2. Better connectivity
The new Director of Audit, Enterprise Risk and Sustainability attends
both the Group Management Committee and the Investment Committee
to connect business operations with the Group's sustainability strategy
and management of climate change risk. Regular touch points ensure
that the strategic approach, and the Group's exposure and response to
climate change is continuously monitored at board and GEC level:
|SUSTAINAB|ILITY TEAM|
|---|---|
|Help set and drive sustain Group, and monitor and|ability strategy across the report on performance|
Quarterly updates with the GEC, and regular updates in between
Quarterly meetings with the Board to monitor progress and
seek ongoing approval for the sustainability strategy
Participation in Group Management and Investment Committees
[Review governance for climate risk management in](https://www.hammerson.com/sustainability/risk-management/climate-risk)
**Managing climate risk.pdf**
|SUST DEVELOP|AINABILITY MENT WORKING GROUP|
|---|---|
|Manag sustainabil|e and report on ity in development|
|CH ENVIRONM|AIRED BY ENTAL MANAGER|
|SUSTAINABI CORPORATE W GROUP|LITY ORKING|
|---|---|
|Manage and report sustainability in identifciation of|corporate cluding key risks|
|CHAIRED BY SUSTA DATA ANAL|INABILITY YST|