Marks & Spencer is delighted to be ranked the top retailer and one of the top companies in Business in the Community's (BitC) First Corporate Responsibility Index. More than 120 companies have participated in the Index, mainly from the FTSE 350.
The new Index is a business tool for companies to assess and compare how they integrate responsible business practice throughout their organisation in four key impact areas - environment, marketplace, workplace and community. It is the first business-led voluntary Index, publicly benchmarking responsible business practice.
The Index is supported by the Accounting Standards Board, The Association of British Insurers, the Confederation of British Industry, the Department of Trade and Industry, and the National Association of Pensions Funds.
Luc Vandevelde, Chairman of Marks & Spencer said:
"We are delighted that we are ranked as the top retailer and one of Britains leading companies. We welcome the Index as an opportunity to benchmark our relative position. Corporate Social Responsibility (CSR) is one of our fundamental strengths, it is critical to our success and runs through the DNA of our business. In our CSR activities we are looking for measurable and lasting results, in exactly the same way that we are for the business as a whole."
Marks & Spencer has its own CSR Committee under the chairmanship of Luc Vandevelde, to provide leadership on CSR throughout the business. The CSR Committee lies at the heart of Marks & Spencer's CSR activities and is one of four Board Level Corporate Governance Committees.
Marks & Spencer will be publishing its first CSR Review in June 2003 which will outline its philosophy, principles, progress to date and future aims. The Review will set the scene for activity over the next 12 months and provide a framework for important new initiatives to be announced through the year.
