Key Performance Indicators (KPIs) meaning

Insurance Europe and the European Insurance CFO Forum warned in a 3 July 2024 position paper that the current limitations give an incomplete view of insurers’ sustainability, putting the industry at a competitive handicap versus others. The EU’s taxonomy rule sets out which activities are sustainable for use in mandatory disclosures by insurers and other companies. It aims to shield investors from misleading claims about sustainability levels. The required reporting is anchored in key performance indicators, or KPIs, designed to reflect sustainability levels in investments and the premiums collected to profitably cover insurance risk. Insurers must disclose how much of their investing and underwriting is taxonomy-eligible, meaning it serves its environmental aims, such as climate change adaptation. However, there are several shortcomings which mean the insurance taxonomy KPIs as currently framed, in their present form and scope, remain problematic...

Developers behind the most capable AI systems are encountering an updated EU code of practice that shifts from prescriptive rules to results‑focused expectations. The European Commission’s AI Office issued the third, and penultimate, draft on 11 March 2025, introducing revisions to give providers room in how they achieve the code’s safety aims, while removing key performance indicators. The code is scheduled to be finalised by 2 May 2025. Serving as a compliance tool for organisations such as OpenAI and Anthropic that create general‑purpose AI models considered by the EU AI Act to carry ‘systemic risks’, the code obliges providers of general purpose AI (GPAI) models with systemic risks to put in place a safety and security framework setting out risk assessment, mitigation measures, and governance arrangements. In the latest draft, model providers are asked to define the criteria by which they will judge whether a systemic risk arising from a GPAI model becomes acceptable through mitigation, separating risks into acceptable and unacceptable tiers. The emphasis remains on meeting safety objectives...

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Key date In construction contracts, the phrase can denote a deadline for starting or finishing a specific, identifiable task or milestone. It is additionally a defined expression in NEC3/NEC4 (see clause 11.2(9) of the NEC3 Engineering and Construction Contract (ECC) and clause 11.2(11) of the NEC4 ECC). When adopted, the parties set it out in the Contract Data section, together with the condition that has to be satisfied by the relevant date. Key Performance Indicators (KPIs) Benchmarks and markers by which the contractor’s performance under the contract is assessed and reported. Used chiefly as a tool to measure and to encourage improvement. Most commonly applied in partnering contracts...

What is an environmental policy? An environmental policy is a formal written declaration that sets out an organisation’s mission for handling the environmental risks and effects arising from its activities. states the organisation’s environmental goals and targets and may underpin an environmental management system (EMS), where relevant should be signed off and actively championed by top management and understood by all employees enables management to convey its environmental goals and targets to staff and other stakeholders, including shareholders, customers and suppliers ought to be embedded within overall business strategy Why should lawyers be aware of environmental policies? There is no statutory duty in the UK for companies to maintain an environmental (or sustainability) policy. Nevertheless, under the Companies Act 2006 and related corporate reporting rules, certain companies must report and disclose their environmental impacts (including climate-related risks), together with key performance indicators (KPIs). For further details, see Practice Note: Mandatory environmental reporting and disclosure. An environmental policy helps frame...

In today’s data-driven landscape, if you lead an in-house legal team and are not tracking what the department does, you are missing a trick. The legal function must recognise the value it creates, quantify that value and communicate it across the organisation. Sales uses key performance indicators to evidence its impact, and so do marketing and finance. In the same vein, the in-house legal team should equip itself to understand and demonstrate the value it delivers, the work it undertakes and the outcomes it enables. Of course, that is easier said than done. In-house lawyers often sidestep performance measurement and, as a result, face vague or non-measurable goals handed down without real thought as to whether they can be met. This Practice Note, alongside the Precedent: -step plan, offers practical methods to assess the legal department’s performance and show how the legal team adds value to your organisation... Key performance indicators (KPIs) So, let’s begin by addressing the...

Diversity and inclusion (D&I) objectives and key performance indicators—law firms D&I objectives for the firm [ All employees to complete unconscious bias training by [date] ] [ Add D&I objective ] [ Add D&I objective ] [ Add D&I objective ] [ Add D&I objective ] Key performance indicator (KPI) [ Unconscious bias training to be developed with an external training provider ] [ 100% of fee earners to have undertaken unconscious bias training by [date] ] [ 50% of support staff to have undertaken unconscious bias training by [date] ] [ Add KPIs to deliver the above objective ] [ Add KPIs to deliver the above objective ] Who is responsible for this objective [ For example, the D&I or HR Manager ] [ Specify who is accountable for this KPI ] [ Specify who is accountable for this KPI ] [...

Agriculture Objective Guarantee the organisation procures UK contract farm labour solely through reputable agencies. Action step By [ insert date ], review all UK agency relationships to confirm that every labour supplier holds a current Gangmasters and Labour Abuse Authority (GLAA) licence. Indicator [ 100 ]% of labour providers possess a valid GLAA licence. Objective Make certain every farm in our supply base meets minimum labour standards and that all workers have the right to work in the UK. Action step Carry out spot audits of [ x number or % ] UK supplier farms by [ insert date ] to verify labour conditions align with [ insert relevant benchmark ] and that all workers have the right to work in the UK. Indicator Track the number of sites audited, level of access granted (including worker right-to-work records), and the quantity and seriousness of breaches identified against [ insert relevant benchmark ]. Objective Ensure our suppliers...

Initial KPIs Objectives Boost awareness of modern slavery risks within our supply chain. Ensure high‑risk suppliers hold robust plans to respond to identified modern slavery or human trafficking incidents. Ensure all new suppliers are aware of, and meet, [ insert organisation name ]’s minimum labour standards. Action steps Identify suitable training workshops for suppliers, with all [ Tier 1 and 2 ] suppliers required by [ date ] to either certify attendance at a training session, or provide evidence of equivalent alternative training completed. Undertake worker feedback sessions during in‑person supplier audits. In partnership with [ insert, eg name of local NGO ], design a response plan and scenario/testing exercise, with all high‑risk suppliers to have undertaken the exercise by [ date ]. Develop a code of conduct on labour practices by [ date ]. Indicators The % of Tier 1 and 2...