A hallmark of a well-governed and high-performing company is the incorporation of corporate responsibility (CR) throughout its business operations. Today, nonfinancial matters such as environmental stewardship, social impact and transparent governance are central to the assessment of corporate risks and opportunities. Investors, analysts and governance professionals have broadened their focus on traditional measures of corporate success, and are evaluating CR alignment with business strategy as an indication of good governance.
To ensure full alignment with our business goals, Voya Financial maintains a Corporate Responsibility Executive Council that includes all Voya Executive Committee members composed of the top leaders in the company. Led by Chairman and CEO Rod Martin, the Executive Council meets quarterly to review strategy and performance regarding charitable sponsorships, employee engagement and CR integration activities. Critical concerns, if any, are brought to the attention of the Corporate Responsibility Executive Council (CREC) during these meetings with recommendations for actions to remediate. The CREC makes determinations, guided by the nature of the issue and the Committee charter, as to whether those concerns should be brought to the attention of the Nominating and Governance Committee, the Finance Committee or other directors of the board. In 2016, there were no critical concerns presented to the CREC or the board of directors.
Additionally, the charter of the Voya Board of Directors Nominating and Governance Committee includes the review of environmental, sustainability and corporate social responsibility (CR) matters of significance to the company. The committee is engaged in CR in the following ways, including reporting to the full board as necessary:
- Provide oversight of the Environmental, Social and Governance Risk Policy, the Policy on Antitrust, and the Code of Business Conduct & Ethics.
- Provide input and guidance on the Corporate Responsibility Annual Report on an annual basis prior to publication.
- Provide recommendations on key CR initiatives of significance to the company.
Senior corporate responsibility staff bring CR-related risk matters of significance, and environmental, social and governance (ESG) topics raised by stakeholders, to the Nominating and Governance Committee as necessary and deemed appropriate by the Corporate Responsibility Executive Council. This includes those relating to our Environmental, Social and Governance Risk Policy, which reflects our company’s commitment to conducting business in a way that is ethically, economically, socially and environmentally responsible.