Barclays has screened £1.5bn of its supplier spend following the introduction of a corporate responsibility supplier questionnaire last year.
The banking giant has so far sent the questionnaire – which examines social and environmental risks – to more than 50 of its suppliers that the company classes as medium to high-risk. These include firms involved in supplying paper, outsourcing services, and corporate clothes.
The results of the questionnaire carry a 10% weighting in assessing the suitability of a supplier.
The questions cover three main areas of risk: human rights, environmental issues, and business integrity. All existing suppliers will be scrutinised within the next two years, according to the company.
“The information helps us to ensure that we engage with the right suppliers and that they have suitable corporate responsibility policies in line with Barclays’ standards,” the company said.
Details of the move were covered in Barclays’ 2006 corporate responsibility report, Responsible Banking. The report said the company was currently implementing a programme covering the training of key sourcing and supplier management personnel, as well as a number of suppliers.
Last week, Barclays upped the pay of 1,000 cleaners and back-up employees by 22%. Workers at locations across London will now get £7.50 an hour – 30p more than the level of the Mayor of London’s living wage.
The rise is the result of lobbying from the Unite union, and recent negotiations through a partnership agreement the union signed with the bank last year.