FOUNDATION 

The legal form of Rishikesh Upstream.NL.nl is a foundation according to Dutch law. Its bylaws are compatible with accreditations for fund raising organisations for the public interest in The Netherlands. The Dutch tax service authority has to grant an ANBI status. ANBI means Institution Aimed at the Common Good and refers to charitable, religious, humanistic, cultural and scientific institutions whose mission and operations are deemed by the tax service to serve the common good.

TWO-TIER

The governance of the legal is structured by a two-tier governance system, a non-executive board as supervising body and an executive board for managing the entity. The remuneration of members of the boards (non-executives and executives) is within the boundaries prescribed by the Dutch ‘Standards for Remuneration Act’. The remuneration of volunteers is limited to reimbursement of costs, employes/ contracted services should be limited by market conform tariffs and shall not be higher than specified maximum wages.

GOVERNANCE CODE

The principles of The Netherlands Corporate Governance Code are obeyed: good governance as fundament, long-term value creation as purpose. Rishikesh Upstream.NL considers this as a natural complement to the UN-Sustainable Development Goals it pursues. Partners, including projects-owners in execution, will also be selected on the basis of their contribution to corporate social responsibilities.