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Execs at Sewage-Spilling Firms Face Bonus Crackdown

Water company bosses who preside over illegal sewage spills could face a ban on their bonuses as tougher action is called for by the water regulator.

by Mark Eisenberg
Mon, Feb 12, 2024 12:21am
in Business
• 2 mins read
13.9k
Execs at Sewage-Spilling Firms Face Bonus Crackdown | FinOracle

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Water Company Executives Face Bonus Ban Over Illegal Sewage Spills

Water company bosses who preside over illegal sewage spills will be banned from receiving bonuses, according to the UK’s environment secretary, Steve Barclay. The ban will take effect in the 2024-25 financial year, starting from April. This move comes in response to public outrage over executives pocketing more than £26m in bonuses, benefits, and incentives over the past four years. Last year, senior executives from five out of the 11 water companies that deal with sewage received bonuses, while the remaining six declined them due to public anger.

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Tags: 2024AIARCESCompanyConsumerDeFiGovernmentInvestmentManagementMarketMarket analysisOfwatPollutionPotentialRegulationSECSewageSteve BarclayStrategyTim FarronUSWaterWater pollution
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