5 May 2011

Costain has launched Costain Cares, a new operational drive to build a longer-term sustainable business that creates greater economic, environmental and social value.

Costain Cares will address further the developing needs of stakeholders and increase the speed and scale of change towards a responsible business and, at the same time, will enhance performance in every facet of Costain’s operations.

It will define what the Company does, from building relationships with stakeholders, to securing new orders from major customers and delivering profitable solutions through innovation.

Costain Cares will not only guide the business, but will enable the Company to measure performance continually through third party assessment and set strategic goals for the future.
 
The business case for operating responsibly is compelling, as are the benefits that this will bring in the form of increased shareholder value.

Costain Cares has come about after a period of detailed stakeholder engagement. The Company has listened to the views of customers, communities, colleagues and shareholders. This process has highlighted the issues that are paramount and where the Company must focus to enable Costain to fulfil its potential.

The companies that adhere to a greater corporate and social responsibility will be more successful, and offer greater returns to shareholders and the communities they serve.

Business in the Community (BITC), the business-led charity, has published research showing that FTSE350 companies which consistently manage and measure their corporate responsibility outperformed their FTSE 350 peers on total shareholder return (TSR).

Responsible business is not a trade off between profit, people and planet. All companies should be expanding the connections between social and economic progress and looking at innovative ways to integrate responsible business practices into their core activities. Costain Cares aims to do just that.

Commenting on the new initiative, Andrew Wyllie, Costain’s Chief Executive, said:

“Costain Cares will establish a new level of competitiveness. It will shape the future of our business and drive actions on a day-to-day basis.”

Catherine Warbrick, Costain’s Corporate Responsibility Director, said:

“Costain Cares is about an enhanced level of commitment to our stakeholders. We will focus on the issues they really care about, and set more ambitious performance levels against which they can hold us to account.

"We are now raising the bar even further, as we work closely with our stakeholders to achieve our vision of being one of the UK’s leading solutions providers.”

Notes

Business in the Community (BITC)

BITC advises supports and challenges its members to improve business performance and create a sustainable future for people and the planet. Its members work with them to define what responsibility looks like in the workplace, marketplace, community and the environment, and shares what it learns about driving performance through responsible business practice.

For further information, please visit BITC’s website at: www.bitc.org.uk/

What is a responsible business?

BITC uses the following framework of responsible business, to help members to integrate responsible practice into their day-to-day operations:

• Demonstrating clear leadership, governance and values and integrating responsible business practices across all business operations.

• Developing products and services with improved social and environmental impacts, and positively influencing customer’s behavior.

• Developing employees and the future workforce to build successful working lives.

• Investing in communities in which the business operates and those communities in greatest need.

• Manage social, environmental, and economic impacts in your supply chain.

• Managing resources sustainably, taking action to reduce climate change and prepare for a low carbon economy.

• Working with others in collaboration to create change that benefits both business and society.

 

Ends