Ethics
The Board governs the ethics of the Fund in a way that enables an ethical culture and responsible corporate citizenship.
Outcomes supported
Ethics, ethical culture, and responsible corporate citizenship
Sustainable value creation depends on an ethical culture of integrity, accountability, fairness, and responsible decision-making. Through ethical leadership, effective oversight and a values-driven culture, the Board embeds ethics in strategy, operations, investment decisions, and stakeholder relationships, supported by a formal ethics framework, independent speak-up mechanisms, and a commitment to responsible corporate citizenship.
Ethical leadership
Governance approach
The Board leads by example and requires directors to declare conflicts of interest at every meeting.
Key outcomes
Ethical considerations are embedded in Board deliberations and decision-making.
Value created
Strengthens trust, integrity, and sound governance.
Ethics framework
Governance approach
A formal Ethics Policy, Code of Conduct and Whistleblowing Policy set expected standards across the Fund.
Key outcomes
Clear ethical standards and accountability mechanisms.
Value created
Consistent and responsible conduct across the organisation.
Speak-up culture
Governance approach
Whistleblower reports are independently managed by SIGNUM Advocates through secure, anonymous channels.
Key outcomes
Independent investigation of ethical concerns and protection of whistleblowers.
Value created
Promotes transparency, accountability, and stakeholder confidence.
Ethics oversight
Governance approach
ARC oversees ethics, compliance, and investigations; SACA oversees culture, employee wellbeing, equality, and social impact.
Key outcomes
Strong oversight of ethical conduct and culture.
Value created
Enhances organisational resilience and governance effectiveness.
Values-driven culture
Governance approach
Culture is anchored on Member Focus, Integrity, Creativity and Collaboration, refreshed in FY2025/26 through an inclusive process involving all employees.
Key outcomes
Employee engagement reached 93.0% (FY2024/25: 91.0%) and the Work Experience Index 95.0% against a 92.0% target.
Value created
Supports a high-performing and values-based organisation.
Capability and awareness
Governance approach
Directors and employees receive ongoing training on ethics, governance, ESG and risk management.
Key outcomes
Ethical awareness and governance maturity strengthened across the organisation.
Value created
Builds a responsible and future-ready workforce.
Responsible investment
Governance approach
The IPMC oversees the integration of ESG considerations into investment and project decisions.
Key outcomes
Sustainability considerations are incorporated into capital allocation decisions.
Value created
Supports sustainable returns and long-term stakeholder value.
Responsible corporate citizenship
Governance approach
The Board oversees ESG commitments including net zero by 2050, a 13.6% near-term GHG reduction target, green procurement, and corporate social investment, and approved the ESG Policy in FY2025/26.
Key outcomes
Sustainability objectives are embedded in strategy and operations.
Value created
Creates long-term value for members, communities, and the environment.
Community impact
Governance approach
Investments in education, healthcare, entrepreneurship, financial literacy, and environmental wellbeing initiatives.
Key outcomes
Positive social and economic outcomes delivered through targeted programmes.
Value created
Contributes to inclusive growth and societal wellbeing.
Continuous improvement
Governance approach
Board evaluations, policy reviews and independent assurance support continual enhancement of ethics and governance.
Key outcomes
Governance and ethical culture remain responsive to evolving expectations.
Value created
Sustains stakeholder trust and long-term institutional credibility.
External recognition
Governance approach
Independent assessment of governance and sustainability performance.
Key outcomes
Recognition includes the ICGU Resilience and Sustainable Impact Award and multiple FiRe Awards, including first prize for Governance Reporting.
Value created
Demonstrates leadership in governance, ethics, and integrated reporting.
Area for future focus
Continue embedding sustainability metrics in balanced scorecards; progress IFRS S1/S2 adoption.