The annual survey, which is in its 14th year, helps businesses to assess how successfully they are integrating responsible business practice into their operations by assessing factors ranging from a company’s culture and values to its environmental impact and transparency over pay policies.
The CR Index challenges companies to devise and deliver business strategies that have responsibility at their heart. It conducts a gap analysis, benchmarking against industry peers recognising and communicating achievement of public participants. Performance is then categorised in a five star system which shows how integrated corporate responsibility is within a company’s business strategy and operations.
Central England Co-operative, Southern Co-operative and The Midcounties Co-operative are all included in the report, which was published to coincide with BitC’s Responsible Business Week (18-24 April).
Midcounties scored 99% or above in the index, meaning it received the full five stars. Central England achieved 87% (two and a half stars) and Southern achieved over 78% (two stars).
Martyn Cheatle, chief executive at Central England Co-operative said: “As a co-operative and a responsible business we’re delighted to achieve two and a half stars in the ranking within the 2016 CR Index. It’s something that all areas of the Society have been working hard towards.
“We have been recognised for work on a variety of initiatives including reducing waste, managing the supply chain, developing community partnerships, raising funds for charity and working with young unemployed people, and will continue to build on these in the future.”
Alongside the retail societies, other member-owned organisations included in the index are the John Lewis Partnership (over 89% / three stars) and Nationwide Building Society (98% / four and a half stars)
“Genuine responsible business starts in the engine room of companies,” said Stephen Howard, chief executive at Business in the Community. “It’s about how companies translate their values into behaviour and decision making, create the right culture and drive societal and economic value in the process. The CR Index helps companies take an in-depth look at their business from the inside out and it’s encouraging to see companies increasingly integrating responsible business into business at all levels.
“This year’s Index also reinforces the opportunity companies have to think much longer term to address pressing issues such as climate change.”
- Click here for BitC’s 2016 CR Index Insights Report