Plans to launch a benchmarking index that will allow employers to compare
and contrast policies on corporate social responsibility were announced last
week.
The Index of Corporate Responsibility will be set up by Business in the
Community to help FTSE 100 and 250 companies improve performance by comparing
management processes and performance with others in the sector in key areas of
workplace and human rights, marketplace, environment and the community.
Derek Higgs, senior advisor in the UK for UBS Warburg, who helped develop
the index, said: "Responsible companies are trying harder than ever to
determine what they should be measuring and reporting so they can improve and
communicate their impact on society.
"City analysts and fund managers want companies to integrate reporting
on strategy, risk management and performance covering financial environmental
and social issues.
"We are meeting these needs by providing companies with a process to
benchmark and systematically report their management processes and
performance."
The index will be up and running in 2003.
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The Business in the Community website provides a one-stop shop where
stakeholders can view companies’ measurement and reporting of their actual
performance in the same key areas.
