Board inclusion policy
Purpose and Summary
The Boardroom Inclusion Policy (the Policy) aims to promote diversity and inclusion in the composition of the Board of Directors of The Royal Bank of Scotland Group plc (the Board) and in the nominations/appointments process. The Policy reflects RBS’ values, its Inclusion Policy and relevant legal or voluntary code requirements.
RBS values and promotes inclusion in all areas of recruitment and employment. The Board is supportive of this view, and understands the need for a diverse mix of talented directors to effective decision-making. This Policy provides a framework to ensure that the Board attracts, motivates and retains the best talent and avoids limiting potential caused by bias, prejudice or discrimination.
Policy Measurable Objectives
These Measurable Objectives exist to ensure that the Board, and any Committee it delegates nominations responsibilities to, follows an inclusive process when making nominations/appointments decisions:
1. The Board nominations/appointments process will be based on the principles of fairness, respect and inclusion;
2. All Board nominations/appointments will be made on the basis of individual competence, skills and expertise measured against identified objective criteria;
3. The search for Board candidates will be conducted and nominations/appointments made with due regard to the benefits of diversity and inclusion and to this Policy, with due consideration of the educational and professional background, gender, age, ethnicity and geographical provenance of candidates;
4. The Policy and any future material updates will be presented to the Group Nominations and Governance Committee for recommendation to the Board for approval;
5. All relevant Policy updates should reflect the RBS Inclusion Policy and Principles;
6. Policy content should comply with relevant legislation, regulation and the Financial Reporting Council’s UK Corporate Governance Code; and
7. Inclusion and diversity progress, including information about the appointment process and progress against our targets, will be reported in the Group Nominations and Governance Committee’s report in the RBS Annual Report.
Targets and ambitions
Targets - We are committed to promoting diversity and inclusion in the boardroom and aim to meet industry targets and recommendations wherever possible. This includes, but is not limited to, aspiring to meet the targets set by the Hampton-Alexander Report: FTSE100 Women Leaders (33% female balance) and the Parker Report: Beyond 1 by ’21 (at least one director from an ethnic minority background) by 2020/2021.
Ambition - This Policy also acknowledges RBS’ bank-wide ambition to aim for a 50/50 gender balance across all levels of the organisation by 2030.