The Co-operative Group Sustainability Report 2010 Executive summary 11
Social responsibility
Ecological sustainability
Delivering value
Assurance
SuSTainabiliTy manaGEmEnT background Sustainability management and reporting is aligned with the three principles of the AA1000 AccountAbility
Principles Standard (2008)
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: materiality, inclusivity and responsiveness.
Members are firmly embedded in governance (both in general, and in sustainability governance specifically) and policy formulation (pages 13 and 14). As such, whilst engagement with wider stakeholders is central, there is an additional focus on how democratic structures are used to ensure that strategies, policies and performance respond to stakeholder concerns. This level of responsiveness is almost certainly unique among large businesses in the UK. materiality and strategy
In 2010, following consultation with different stakeholders, the
Group Board agreed a new vision: ‘to build a better society by excelling at everything we do’. In pursuit of this, six aims are identified: to be a commercially successful business; to meet the needs of the customers and communities served; to respond to members and to share profits; to be an ethical leader; to be an exemplary employer; and to inspire others through co-operation.
The key performance indicators underpinning strategy, together with progress, are presented within the Annual Report and Accounts
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.
The Sustainable Development Policy (page 10) and the Ethical
Operating Plan (page 13) set out the need for business to develop in a more sustainable manner
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. In managing and reporting on sustainability, activity is focused on the areas that are of greatest significance. The process for identifying those issues is complex and diverse, and, as set out in the diagram on page 12, subject to
competing