Corporate Responsibility - Reporting and Verification
Market leaders in all major sectors are recognising the importance of Corporate Responsibility for their organisations. CR is at the vanguard of contemporary corporate strategy, with annual CR reports now being produced by the world’s leading organisations.
The CR report performs a dual function. In the first instance, it provides an ideal vehicle through which to define and present a flagship corporate image to a wide audience. An organisation can construct a tailored annual manifesto through the communication of a statement of long term purpose and intent, the presentation of annual aims, objectives, and targets, and the presentation of achievements and particular success stories. Potential clients appreciate the transparency offered by a CR report, as well as the ability to make an informed choice on the basis of clearly presented and easily comprehensible facts.
In the second instance, a Corporate Responsibility report encourages an organisation to set targets and evaluate performance in the light of these. The corporate accountability provided by the CR report drives in efficiency gains and ensures consistent levels of motivation and performance. In this respect, the CR report functions alongside management systems in inculcating a structured, responsive and flexible corporate philosophy, ensuring continuous performance improvement and competitive advantage.
Amongst emergent corporate strategies, none is making more of an impact in the world of business than Corporate Responsibility. Market leaders are currently pioneering the CR report, and ambitious organisations have wasted no time in following their lead. With CR poised to become an indispensable feature of the corporate gold standard, organisations that fail to recognise its importance will find themselves struggling to navigate the challenges of the twenty-first century global marketplace.
1. Barratt Developments
SEQM has assisted Barratt Developments since February 2004 with the organisation’s Corporate Responsibility (CR) programme, including the development and writing of its first and second annual reports.
The first report was published in September 2004. In 2004 the WWF/Insight Investments evaluated thirteen major housebuilders against published CR performance and rated Barratt Developments eleventh; in 2005 the evaluation improved to seventh.
The CR reporting structure provided by SEQM ensured that Barratt Developments also met the reporting criteria for the GRI Index, WWF and BITC survey. The reports have also been extremely valuable in augmenting tenders for work with English Partnership and ODPM by ensuring that Barratt Developments meet the criteria for Sustainable Housing.
Over the the last 4 years SEQM has provided exceptional support to our business, providing strategic CR guidance, assistance with the preparation of our annual CR report, implementation of an environmental management system across over 30 divisions and specific guidance on environmental and sustainability issues. SEQM have reacted quickly and knowledgeably to our needs and always provide practical advice and professional service.
Deputy Company Secretary - Barratt Developments PLC
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2. Northern Rock
In 2006 Northern Rock produced its fifth Northern Rock Community Report, incorporating social, environmental and ethical issues. Julian Ringer, Managing Director of SEQM Ltd, conducted the verification for all five reports, having previously conducted the verification for the original environmental reports.
3. Provident Financial
In 2006 Provident Financial published its fourth Corporate Responsibility Report, reporting on actions taken in 2005. The report comprised two sections, the first of which was an environmental report verified by Julian Ringer.
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