After operating under the same governance model since 1993, Recovery Trust has recently restructured to meet modern best practice governance standards and created a bold new vision.
Our vision is simple - to eliminate the environmental harm from synthetic refrigerants in New Zealand.
Since the Trust was established, the sole trustee has been a trustee company, with directors appointed from the industry. The directors recently unanimously decided to move to a more direct governance model and to engage an independent Chair. This allows it to meet the best practice requirements of a Product Stewardship Organisation (PSO) under a regulated framework.
Consequently, the trustee company resigned as a trustee, three trustees were appointed directly to the Trust, and Richard Lauder was appointed as Independent Chair, bringing a wealth of leadership experience from outside the industry. We have also appointed three expert advisors to the Trust.
Trustees also took the opportunity to redefine the purpose of the Trust well beyond simply operating a product stewardship scheme.
The trust can now carry out any activity to advance that purpose.
That means that in addition to acting as the PSO for the regulated scheme, the Trust can now facilitate technical advisory groups to drive change, enable transition to less environmentally harmful refrigerants, contribute to industry training and upskilling, or engage in any other activity that will eliminate harm from synthetic refrigerants.
We believe that once we have achieved our goal, we will have done our job, and there will be no need for Recovery Trust to exist in the future.
This bold new vision is a platform to engage all stakeholders and industry experts in contributing to achieving a better future.