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Summary

The report builds on last year's publication, which was named the most 'Open & Honest' at the CR Reporting Awards

Report Highlights

The Co-operative Group - one of the world’s largest consumer co-operatives and one of the UK’s most diverse businesses - today launches its online 2008/09 Sustainability Report at www.co-operative.coop/sustainabilityreport

The online and printed Reports build on last year’s publication, which was named the most ‘Open and Honest’ at the CR Reporting Awards.

Highlights include:

81% of targets achieved or (for longer term targets) ‘on track’
Over 750,000 individuals in the developing world directly benefit from the Group’s international development activity annually
£1 billion of finance opportunities declined, since 1992, due to conflict with the bank’s Ethical Policy
A food Ethical Policy, a revised bank Ethical Policy, and a new Community Plan launched, following member and customer consultations attracting 250,000 responses
60% reduction in net greenhouse gas emissions per £m of turnover compared to 2003
29% reduction in waste sent to landfill compared to 2006
10% of pre-tax profits invested in community projects
£50m of profits distributed to individual members.

The Report is consistent with a GRI G3 application level of A+. Type 2 assurance was provided, in accordance with AA1000AS (2008), including a high level of assurance for certain ethical finance data and claims. Assurance provider, Two Tomorrows, comments, “In many respects The Co-operative Group’s Sustainability Report demonstrates best practice and international leadership. It provides extensive coverage of its impacts… but uniquely also its work as an influencer and change agent.”

Leading environmentalist Jonathan Porritt, who provides a commentary on the Report, writes: “At a time when mainstream economic and political models have been shown in all their dysfunctional and often immoral inadequacy, the world needs the energy of co-operation more than ever.”

The Co-operative Group operates in food retail, pharmacy, funeral, travel, banking, insurance and farming sectors. It employs 123,000 people, has around 4,900 retail outlets, and over 3 million members who can share in its profits and participate in its governance.

To request a hard copy of the report, please email: sustainability.report@co-operative.coop
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