Anglian changes Articles of Association to embed public purpose
Anglian Water has locked in a commitment to delivering public interest outcomes for society and the environment by changing its Articles of Association.
Changing the Articles, which legally set out how a company is run, mean the board must take account of the wider impact Anglian Water has on customers, communities and the environment, as well as delivering a fair return for shareholders. It is the first privately owned water company to make such a move.
The board of Anglian Water, in conjunction with its shareholders (First State Investments, Canada Pension Plan Investment Board, IFM Investors, Dalmore Capital, GLIL Infrastructure and Infinity Investments), also intends to sign up to a set of Responsible Business Principles and to report on its performance as a responsible business. It will incorporate in its Articles a commitment to publish a statement which sets out its performance in relation to key environmental, social and ethical activities.
Chief executive Peter Simpson (pictured) said: "This change signals our cast-iron commitment to the wellbeing of communities in the East of England, going far beyond the provision of clean drinking water and effective treatment of used water.”
He continued: "For years we've operated diligently in the background, striving to minimise our impact on the environment while positively contributing to communities where we've been able to impact. This change marks a new era that codifies that approach and makes it permanent, ensuring all future owners and investors will be obligated to work in the same way, and giving regulators, stakeholders and customers the confidence that this is simply how we work.”