CORPORATE GOVERNANCE
Our corporate governance framework ensures accountability , fairness , and transparency in our relationship with our stakeholders . Our board members provide strategic guidance while adhering to sound corporate governance practices . The board structure of TRC Companies , LLC includes three directors from our principal owner , New Mountain Capital , and four independent directors . The Board has regularly scheduled quarterly meetings and has two active organizational committees governed by written charters :
■ Audit and Risk Committee
■ Finance Committee
In addition to the regularly scheduled quarterly meetings , the Board and committees hold additional meetings , as needed .
Sustainability is an agenda item on our monthly executive team strategy calls and our monthly management team status calls and our directors are engaged in the review of our environmental , social , and governance risks and performance , in conformance with New Mountain Capital ’ s ESG Program .
Consistent with Principle 15 of “ The Rio Declaration on Environment and Development ,” the executive team supports the use of the precautionary principle in its approach to risk management and strategic planning and policy implementation . NMC has a formal policy to identify and improve environmental , social , and governance issues within our private equity portfolio companies .
New Mountain is a signatory of the United Nations Principles of Responsible Investing ( UNPRI ) and a member of the American Investment Council ( AIC ).
56 2020 Sustainability Report