Corporate Governance

As the majority of our shareholders are Norwegian institutional and/or professional investors we have decided to implement The Norwegian Code of Practice for Corporate Governance(Code).

In accordance with the Code Nordenergie Renewables have established the following Board committees:

• The Audit Committee
• The Remuneration Committee
• The Nomination Committee

The task of the Nordenergie Renewables Board committees is to prepare decisions and recommendations for evaluation and approval by the entire Board of Directors. The committees are not authorised to make independent decisions; instead they report and make recommendations to the Board of Directors.

The following general requirements apply for all committees:

• The committees consist of three members
• The members are elected for one year by and among the Board members except for the members of the Nominating Committe
• The chairman of the committee is appointed by the Board for a term of one year
• Elections usually take place at the Board meeting held immediately after the Annual General Meeting
• The committees hold at least two meetings every year
• Members of Executive Management may participate in a committee meeting at the request of the committee 

To read our Corporate Governance Policy, please click here .

To read The Norwegian Code of Practice for Corporate Governance, please click at http://www.nues.no/filestore/Anbefaling_Eng_2010.pdf