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Top Companies Called to Complete Second Corporate Responsibility Index
Top Companies Called to Complete Second Corporate Responsibility Index
Published 09-05-03
Submitted by Business in the Community
The Index is a business management tool, developed to support companies in improving their impact on society and the environment. It enables companies to assess the extent to which their strategy is translated into responsible practice throughout the organisation in managing four key areas - Community, Environment, Marketplace and Workplace - and their performance in a range of environmental and social impacts.
Benefits of completing the Index include:
Members of Business in the Community now make a commitment to integrate responsible practice throughout the business, and are encouraged to participate in the Index as part of this commitment. The Index provides an opportunity for them to benchmark their responsible business practice against that of others in their sector, and the wider business community. It is relevant especially to those likely to be required to include in their annual reports an Operating and Financial Review of material, non-financial issues affecting performance.
After the publication of the 1st Corporate Responsibility Index in March 2003, Business in the Community undertook a major consultation with participants. Two major improvements resulting from this are that the survey now gives more credit to companies for what they do and more scope to report on issues specifically material to their own business.
The Index has four key components:
Finally, there is an overall assurance process that assesses the robustness of the information provided.
David Varney, Chairman of Business in the Community and Chairman of mm02, says: 'Companies should participate in the Index because it's an important part of the way you run a business. It's important, because companies are increasingly being asked what impact they are having on society. But of course, a sceptical audience wants what companies are doing to be measured and wants what they are saying to be verified. It's also important because companies learn from one another and that provides an opportunity to improve their impact.'
The results of the 2nd Corporate Responsibility Index and the 8th Environmental Engagement Index will be published in March, 2004 at a reception for senior business leaders and a one-day conference for corporate responsibility practitioners.
Copies of the 1st Corporate Responsibility Index are available from Business in the Community at corporateresponsibility@bitc.org.uk or +44 (0)20 7566 8793, price £90. The 7th Environmental Engagement Index is available at £65.
Notes for Editors
1. Business in the Community is a unique movement in the UK of 700 member companies. Our purpose is to inspire, challenge, engage and support business in continually improving its positive impact on society.
Together, our member companies employ over 15.7 million people across 200 countries. In the UK, our members employ over 1 in 5 of the private sector workforce.
Membership of Business in the Community is a commitment to action and to the continual improvement of the company's impact on society. Our members commit to:
2. Further information about Business in the Community can be found at the website www.bitc.org.uk.
