It is the long-standing policy and practice of Northwest Natural
Gas Company to conduct our business in compliance with all applicable laws and regulations
and with the highest standards of integrity. The policies established by our Board
of Directors are designed to ensure that the business is well-managed to serve our
stakeholders and maximize long-term shareholder value. NW Natural is committed to
the principles embodied within our Corporate Governance Standards and our Code of
Ethics, which will help us to preserve our greatest asset - our reputation.
The Board of Directors annually reviews our corporate governance policies, committee
charters and Code of Ethics, which provide a framework for the governance of the
Company. The primary components of the Company's corporate governance are:
- Corporate Governance Standards. The updated
Corporate Governance Standards provide policies and procedures for, among
other things, Board membership and leadership (including the Company's
Director Independence Standards and the
Director Selection Criteria), the structure and function of Board committees,
Board and committee meetings, succession planning and CEO performance evaluation,
compensation and stock ownership and oversight of the Code of Ethics.
- Committee Charters: The Company has five standing committees with
Organization and Executive Compensation Committee
Public Affairs and Environmental Policy Committee
Each of the Audit Committee, the Governance Committee (which
also serves as the nominating committee) and the Organization and Executive
Compensation Committee is comprised entirely of independent directors.
Code of Ethics. The Company's long-standing policy and practice is
to comply with the letter and spirit of all laws and regulations affecting the
Company and its employees and to strive to achieve the highest possible standards
of integrity in conducting our business. Our Code of Ethics guides us in that
effort. Our Code is reviewed periodically with our employees and they are required
to certify their commitment to and compliance with the Code.
Other Governance Documents:
Director Independence Standards