Vermillion Institute

You want to know that the organizations you work with have established rigorous systems to ensure good governance.

Vermillion Institute is borne of the collaboration of professional consultants, lawyers and engineers so we understand how important it is for projects to conducted in a rigorous and businesslike manner.

After looking at the practices of NGOs whose accomplishments we respect, we created systems to monitor and drive the success of our initiatives.

We knew we were preparing a foundation for a worthy set of projects—and that's why Vermillion's board was structured to add value.

It is comprised of directors that contribute to its effectiveness in corporate governance, financial governance, information technology, social media engagement, learning, and scientific analysis.

Board members were nominated and elected based on their (i) competencies; (ii) integrity; (iii) capacity for independent judgment; (iv) willingness to volunteer and commit over a 100 hours in Vermillion's first year; (v) capacities for board interaction.

In the very first meeting of Vermillion's board of directors, they established the respective roles and responsibilities of the board and executive officers; these roles continue to be reviewed on a periodic basis.

In the same meeting, Elise Dubourg (Chair) moved that the board create a robust framework for oversight and accountability.

The resulting framework came to be known as Vermillion Institute's Governing Policies. The board resolved to adopt the governing policies in April 2009.

They establish a comprehensive code of conduct, describing the objectives and conduct the board, the chairs of board committees, as well as for Vermillion staff and signatories. In addition to promoting the ethical and responsible behavior and decision-making of Vermillion people, they provide direction for the development and no-charge distribution of useful sustainability information to both public and business groups. And since competitors may occasionally come together in Vermillion discussion forums, the policies manage risk through appropriate competition (antitrust) law and anti-corruption policies.

Vermillion has also established processes to:

1. Examine its board membership to select and appoint directors to ensure its members have the necessary competencies
2. Improve board performance
3. Provide its new directors with a comprehensive orientation and, as funds permit, provide continuing education opportunities for all directors
4. Identify, assess and resolve actual and potential conflicts of interest
5. Ensure that compensation policies are aligned with Vermillion's best interests
6. Recognize and manage risks that could adversely impact the achievement of Vermillion's objectives

Vermillion has also established processes to engage with and report to its stakeholders on a regular basis.

Accordingly, we report results in terms of measurable outcomes, and we adhere to our bylaws and governing policies; these are the best ways we know to continue to demonstrate Vermillion Institute's value to the sustainability movement.