Results of Business in the Community's 2008 Corporate Responsibility Index; in which 141 leading businesses participated, were announced today.
In achieving SILVER level, Jaguar Land Rover has demonstrated that it integrates and improves corporate responsibility throughout its operations by providing a systematic approach to managing, measuring and reporting on business impacts in society and on the environment.
David Smith, Chief Executive, Jaguar Land Rover said: "In the current climate it is more important than ever for businesses to acknowledge and control the impact they have on society and the environment and commit to tackling the issues, not just because they should, but because it's good for business."
Stephen Howard, Chief Executive, Business in the Community said: "I congratulate Jaguar Land Rover on achieving SILVER in the 2008 Business in the Community Corporate Responsibility Index. At a time when trust and confidence in businesses is at an all time low, it is examples like this that will help to demonstrate that some businesses are taking the responsibility they have towards their people and the planet seriously and that it makes business sense.
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"It is reassuring to see that climate change, skills development, supply chain management, board level reporting and workplace issues are top of the agenda for businesses. However, the results also show us that we still have a long way to go. If UK plc is to exit the recession fighting fit, then urgent actions need to be taken."
For more information contact:
Don Hume
Director Corporate and Government Affairs
Jaguar Land Rover
01926 649280
dhume@jaguarlandrover.com
Notes
Key findings from the 2008 Corporate Responsibility Index
• 9 in 10 participant companies have had substantive discussion at board level about corporate responsibility issues.
• Businesses cited that their biggest environmental issue was climate change. 62% reporting it as the key issue and all companies reporting it as an important issue.
• It was clear from the Index results that businesses are acknowledging that if they are to survive and thrive it is their people, and the workplaces that support, empower and nurture them, that will largely determine success or failure.
• From the results of the CR Index 2008 and a parallel consultation with 1,500 companies, it is clear that 'talent' and 'skills development' are emerging as key issues more than ever. Companies are reporting a disconnect between the world of work and education and training, and a mismatch of expectation and aspiration.
• This year, CR Index participants highlighted supply vulnerability as a key business risk.
• The most improved sectors this year are law and construction.
• Overall, Business in the Community believes corporate responsibility is just good business. In order to test this assertion, in October 2008, supported by Legal & General, we commissioned Ipsos MORI to conduct statistical analysis of 33 companies who have participated in the Business in the Community CR Index each year 2002‑2007 and are listed on the London Stock Exchange. As well as demonstrating a correlation with reduced share volatility, the most striking feature of the research showed that companies consistently participating in the CR Index outperformed their FTSE 350 peers on total shareholder return 2002‑2007 by between 3.2% and 7.7% per year.
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For more information about the CR Index results please visit http://www.bitc.org.uk/cr_strategy_and_integration/cr_index/a_new_era_of_responsibility/index.rma
Business in the Community
Inspires, engages, supports and challenge companies on responsible business, working through four areas: Marketplace, Workplace, Environment and Community. With more than 850 companies in membership it represents, we represent 1 in 5 of the UK private sector workforce and convene a network of global partners. Members commit to continually improve the way they operate with a specific focus on the need to manage resources wisely ‑ be that people or our planet.