Lloyds Banking Group - Doing More to help Britain Prosper23/05/2013
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2012 Responsible Business Report:
Lloyds Banking Group announces the launch of its 2012 Responsible Business report that outlines the Group progress and challenges to its responsible business approach. The report demonstrates how the bank is embedding its responsible business commitment under the leadership of CEO António Horta-Osório. Click here to access the 2012 Responsible Business Report.
The report highlights some significant progress during 2012 that supports the Group’s commitment to do more for the UK’s households, businesses and communities. This includes:
- helping 55,000 customers get on the property ladder with first-time buyer mortgages
- supporting 120,000 new small and medium sized businesses to start up , helping a total of 350,000 businesses in three years
- investing £85 million in UK communities, including a programme of activities with outcomes that result in education, employability & enterprise
- one in three colleagues - 32,000 people – registering to volunteer within the UK’s communities in 2012, under the Group’s ‘Day to Make a Difference’ programme
- reducing reportable C02 emissions across the Group by around nine per cent, including emissions from data centres
- increasing the amount of operational waste diverted from landfill to 94 per cent – reaching the 2020 target of 92 per cent eight years early.
The Group’s work to embed and monitor responsible business among its colleagues and operations is discussed in the report. In 2012, it extended the role of its Responsible Business Steering Group (RBSG) that sets the direction for responsible business. The RBSG now has senior representatives from across the whole business, including Board level involvement. The Group also launched its revised Codes of Personal and Business Responsibility which have been designed to set common foundations for responsible business behaviour across the Group.
A newly formed independent stakeholder panel provided assurance on the 2012 Responsible Business report. The panel included representatives from customers, colleagues, communities, suppliers, business ethics specialists and investors, all of whom helped to shape the 2012 Responsible Business report. Colleagues were also consulted through an independent focus group.
Responsible Business Strategy:
As the UK’s largest retail and commercial bank, Lloyds Banking Group aims to do more to help Britain prosper than any of its peers – but recognises that its license to do this rests on operating responsibly. Its vision is to do more to add societal value in the areas most closely connected to its products and services, and to create a business that stakeholders are proud of long into the future.
It aims to do this in line with the Group's Values – putting customers first, keeping it simple, and making a difference together – in order to be the best bank for customers.
Working with Ernst & Young, the Group is developing a set of metrics which will help measure and articulate how Lloyds Banking Group is helping Britain to prosper. The metrics will be focused on both economic and social measures and will cover their core business offerings and community investment programmes. They will be introduced in 2013.
“Over the coming year, we want our customers and other stakeholders to see the work we are doing. It’s my hope that when a customer walks into a branch, or a colleague says that they work for Lloyds Banking Group, they feel a sense of pride and a connection with a bank that passionately believes in being responsible”. Anita Frew, Non-Executive Director and Chair of the Responsible Business Steering Group.
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