We benchmark ourselves against other companies and best practice using tools such as the Business in the Community Corporate Responsibility Index and the Dow Jones Sustainability Index.
Business in the Community
The Business in the Community (BitC) Corporate Responsibility Index assesses the extent to which responsible business practice is integrated into corporate strategy throughout an organisation. It provides a benchmark for companies to evaluate management practice in four key areas (environment, community, marketplace and workplace), and performance in a range of environmental and social impact areas. In last year's index we scored 97.5%, giving us a ranking of platinum which we retain for two years.
This year we carried out an additional assessment of our CR performance, which involved a 'Big Conversation' between BitC and our senior management team. As a result of this assessment we attained Platinum Plus status - one of only seven companies to do so.
The official results were announced on the 10th June in the Financial times. The article is available to read on the BitC website.
Dow Jones
The Dow Jones are indices that track the financial performance of the top global sustainability companies. Based on cooperation between Dow Jones Indexes, STOXX limited and SAM Group, the indices provide asset managers with reliable and objective benchmarks to manage sustainability portfolios. Asset managers in 14 countries have licensed the DJSI family as objective benchmarks for sustainability portfolios worth 3 billion EUR.
For 2009, our overall performance is 75%. This means we have maintained DJ World SI and are ranked in the top 10% of leading sustainability companies in the world along with Veolia.
FTSE4Good Index
United Utilities is a member of the FTSE4Good index, the responsible investment index calculated by global index provider FTSE group. The FTSE4Good index Series has been designed to measure the performance of companies that meer globally recognised corporate responsibility standards, and to facilitate investment in those companies. The growth of socially responsible investment (SRI) and the escalating interest in corporate governance by many global investment institutions has continued to drive the need to understand the relationship between the governance of corporate responsibility and shareholder value. It is this that the FTSE4Good index seeks to identify and reflect.
Audit of spend
Each year, we audit our community spend using the London Benchmarking Group model. We assess spend in terms of cash contributions, employee time and in kind contributions.
Our total spend in 2008/09 was around £3.1 million, this was invested in the communities in which we operate, inlcuding cash, time and in-kind help. Our activities have focused around our strategy and benefit communities impacted by our operational activities, through community partnerships such as United Futures and the Mersey Basin campaign.