BITC's Highest Ranking For Costain
22 April 2013
Costain Group PLC has been recognised with the highest ranking in Business in the Community’s (BITC) annual benchmark of responsible business management, the Corporate Responsibility Index (CR Index).
The CR Index is the UK’s leading and most in-depth voluntary benchmark of corporate responsibility. It has been run by Business in the Community for over a decade to help companies; accurately measure and manage all aspects of their social and environmental performance; shape how they integrate and improve corporate responsibility throughout their business operations and benchmark themselves against competitors.
Costain Group PLC was announced as a Platinum Big Tick company, a new banding in the Index for 2013 designed to challenge leading companies with ‘stretch questions’ on topics such as their long-term planning and the unique contribution their business can make to create transformational change and a sustainable economy. The announcement had been timed to coincide with Responsible Business Week (15-19 April 2013) an initiative taking place across the UK this week to raise public awareness of the powerful, positive role of business in society.
Despite the ongoing economic challenges facing business, the 2013 CR Index paints a positive picture of levels of commitment to responsible business in the UK. Participating companies achieved a high average score of 90% indicating that companies are continuing to overcoming commercial pressures to maintain their investment in and engagement with responsible business.
Achieving Platinum Big Tick means that Costain can demonstrate that it is thinking about how global mega trends, such as population growth and resource scarcity, are affecting the future strategy of the business. The banding is an indication that it is making long-term investments to improve or launch new environmentally and socially sound products and services, and is embedding responsible values throughout the workforce.
Catherine Warbrick, Corporate Responsibility Director at Costain, said: “We are delighted to achieve Platinum Big Tick status in this year's BITC CR Index. Through Costain Cares, our Corporate Responsibility Strategy and vision to build a long-term sustainable business that creates economic, environmental and social value, we have continued to demonstrate our ongoing commitment to embed responsible business practices across the Group.”
Stephen Howard, Chief Executive, Business in the Community, said: “The CR Index tells us that, despite the complexities of this agenda and the tough economic challenges they’re facing, our leading companies are continuing to invest in responsible business and truly integrate it within their operations.
"Responsible business matters – to businesses, employees, communities and the long term sustainability of the planet. As we launch the UK’s first Responsible Business Week to celebrate the powerful positive role business plays in society, this Index is a key tool to help the public to understand what good business looks like while also providing examples to inspire many more companies to accelerate the pace of change within their business.
"I congratulate Costain for achieving Platinum Big Tick because it signifies a key step on the journey, a willingness to rise to the challenge and that they are part of a movement of responsible business in which all companies have their unique part to play. We look forward on working with, supporting and challenging Costain to build on this achievement as we, together drive the transformational change needed to deliver a sustainable economy.”
About the CR Index
Business in the Community's CR Index is the UK’s leading voluntary benchmark of corporate responsibility. It helps companies to integrate and improve CR throughout their operations by providing a systematic approach to managing, measuring and reporting on business impacts in society and on the environment. For over a decade the CR Index has inspired and challenged over 360 companies to continuously improve their impact on society and the environment. The CR Index scores participating companies against the following areas of responsible business, Corporate Strategy, Community Management, Environmental Management, Marketplace Management, Workplace management. Environmental Impact and Social Impact. This year over 100 companies participated publicly.
A Platinum Big Tick company demonstrates that it has started thinking about how the global mega trends, such as population growth and resource scarcity, are affecting the future strategy of the business. Platinum Big Tick companies tend to make long-term investments to improve current or launch new environmentally and socially sound product and/or services, whose return on investment may not be immediate. Furthermore, these companies generally ensure that their vision and values are lived and embedded throughout the entire workforce and that senior managers and board members’ training is conversant with a sustainable growing economy.
About Business in the Community
Business in the Community stands for responsible business. We are a unique business movement of 850 member companies - the largest business-led charity of its kind - committed to building resilient communities, diverse workplaces and a more sustainable future. We work locally, nationally and internationally with members to transform businesses and transform communities. We believe that responsible leadership is the ability to balance doing both.
We ask our members to work with us on specific campaigns that make a difference in the workplace, marketplace and community. And we offer a range of services that challenge, support and inspire members and help transform their businesses.
Business in the Community is one of The Prince’s Charities, a group of not-for-profit organisations of which The Prince of Wales is President. www.bitc.org.uk