41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 133
STRATEGIC REPORT
GOVERNANCE
FINANCIAL STATEMENTS
OTHER INFORMATION
REMUNERATION COMMITTEE
REMUNERATION GOVERNANCE
The Remuneration Committee focuses on
ensuring that executive reward is linked to
the delivery of strategic objectives and that
it reinforces the Group’s values
“The Committee’s decision-making during
2022 has been framed by the Group’s broader
performance context. The cost-of-living crisis
has been a key area of focus for us, and our
decisions around executive remuneration have
sought to acknowledge the pressures faced by
colleagues, customers and other stakeholders.”
Elizabeth McMeikan
Chair
COMMITTEE MEMBERSHIP
Elizabeth McMeikan
Chair of the Remuneration Committee
Nicky Dulieu
Non-Executive Director
Ross Paterson
Non-Executive Director
Dame Shirley Pearce
Non-Executive Director
Professor Sir Steve Smith
Non-Executive Director
NUMBER OF MEETINGS
3
ATTENDANCE
See page 107
As in previous years, this report is split into three sections:
this Annual Statement, the Policy Report and the Annual
Report on Remuneration. Our Remuneration Policy was
last submitted to shareholders at the 2022 AGM, with the
Committee very pleased to receive 97.83% votes in favour.
No changes are being proposed to the policy this year;
however, we have reproduced the Policy Report in full over
pages 137–147 for both ease of reference and in order to
provide context to the decisions taken by the Committee
during the year.
2022 performance and reward
As always, the Committee’s decisions around executive
remuneration for FY22 have been framed by the Group’s
broader performance context.
2022 was another strong year for Unite with progress made
against each of our key strategic objectives. The Group
continues to deliver attractive returns for shareholders, with
financial highlights including a 48% increase in both earnings
and dividends, a 5% increase in EPRA NTA, and an overall
total accounting return of 8.1%. Unite’s record in delivering
for customers and universities is evidenced by a return to
full occupancy and a 3-point increase in customer NPS, with
the Group having made a range of service enhancements
(including around student welfare support) during the year.
On delivering a positive impact, the Group has continued to
progress its Sustainability Strategy and move closer towards
its objective of becoming a net zero business by 2030, with
material investments in energy initiatives contributing to
improvements in EPC ratings across the portfolio.
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