The Board acknowledges that there is a legal requirement for the Company to report on how the Board and its Committees have considered the requirements of Section 172 of the Companies Act 2006 in their decision-making
Section 172 statement
The Board is focused on driving the long-term sustainable success of the Company for the benefit of all stakeholders.
We are committed to maintaining strong relationships through regular engagement with stakeholders and consider their views when making key business decisions.
The Board also acknowledges its responsibility to consider the long‑term impacts of the Company’s decisions on wider society and the environment. The principles underpinning S172 are not only considered at Board level, but are also part of our culture and embedded in everything we do as a Company.
Why it's important to engage with...
The Company’s long‑term success depends on a skilled and motivated workforce, an innovative and entrepreneurial approach, and a safe and inclusive working environment.
The Board is committed to maintaining strong relationships with our shareholders and engages regularly to provide fair, balanced and understandable information ensuring they understand our purpose, values and strategy and how that promotes the long-term sustainable success of the Company.
Building effective and trusting relationships that generate mutual value helps us to understand our customers’ needs and behaviours. It allows us to deliver relevant products and services, retain customers and attract new ones. It also identifies opportunities for growth and market differentiation, and our ability to demonstrate how we are able to deliver on increasing sustainability expectations and obligations.
We actively engage with our suppliers to encourage and support them to instil our own business ethics and values within their organisations. Building strong relationships ensures appropriate cost and quality levels of goods and services, security of supply and speed to market. We rely on the high standards of our suppliers to ensure compliance, drive innovation and deliver improvements in our overall sustainability performance.
Trifast has the capacity to create significant positive benefits within the communities we operate in but recognises our operations can also have a negative impact. We are committed to engaging with our communities to ensure we interact responsibly and maximise potential benefits.
Policies and regulatory changes, including changes to the global political landscape and laws and regulations affecting terms of trade, may provide opportunities and pose risk to our operations.