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Governance and stakeholders

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The directors are committed to high standards of corporate governance and collaborative relationships with stakeholders

Board

Three of the trustees of the Nuclear Trust are appointed by The Secretary of State for Department of Energy Security and Net Zero (DESNZ) and two appointed by EDF Energy, the current owner of the eight nuclear power stations across the UK whose nuclear liabilities are covered by the fund.

The trustees of the Nuclear Trust are also directors of Nuclear Liabilities Fund Limited.

The Board of Nuclear Liabilities Fund Limited meets at least six times a year. There are three Committees providing oversight and reporting to the Board: the Investment Committee, the Audit Committee and the Remuneration and Nominations Committee. The Board is supported by the executive team and a number of service providers.

Board Committees

The Investment Committee meets at least six times a year to oversee the detailed administration of the investment portfolio and receives reports from fund managers and investment advisers. The Audit Committee meets at least four times a year and the Remuneration and Nomination Committee meets at least twice a year.

The Audit Committee terms of reference can be found here.

Further details of activities and responsibilities can be found in NLF's annual report and accounts

Stakeholders

The trustee/directors have regard to the interests of stakeholders. Stakeholders include DESNZ, EDF Energy, NDA, UK taxpayers and the public at large.

Trustee/directors and the executive team have regular engagement with DESNZ, EDF Energy and the NDA to scrutinises and challenge EDF Energy’s costs and support stakeholder collaboration with a view to achieving cost synergies and value for money.

For more information on our stakeholders, please see links below:

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Directors / Trustees

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Corporate Structure

The fund is structured so that its assets are ring-fenced and can only be used for the purpose of making payments towards discharging relevant nuclear liabilities

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Executive team

An executive team handle day to day management and operations.

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Annual reports

Download our annual reports below

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