Our approach to corporate responsibility (CR) is enshrined in our Business Code of Conduct (the Code), a copy of which can be found on our website, . The Code applies unconditionally to all wholly-owned parts of the Group, and we also seek to apply the Code in those operations in which we have a 50% stake or more. Where we have a minority stake, we encourage our partners to adopt the Code. Applying the Code requires proactive management at every level within the Company.
The Board reviews Tate & Lyle’s CR policies and performance annually, and the Chief Executive is the Board member accountable for all aspects of CR.
Improving our management of CR
Following both the Group strategic review and Board effectiveness review we carried out in 2010 (details of which are in the annual report 2010), we enhanced how we oversee, manage and report on our CR risks and performance, including:
- we established a new Board Committee, the CR Committee, to review and monitor the processes and measures used to manage social, environmental and ethical risks. Details of the Committee’s membership, attendance and key activities are in the section. The Committee’s terms of reference are available on our website, ;
- we reorganised CR activities under a new global unit, Group Operational Efficiency and Sustainability (GOES). The Group VP, GOES reports directly to the Chief Executive, who retains overall responsibility for CR. As part of this reorganisation, we also created a new position, VP Sustainability, with specific responsibility for driving forward our sustainability work and communicating with stakeholders; and
- with the help of our internal audit function and external consultants URS Scott Wilson, we carried out a review of CR performance data presented in the annual report. It resulted in improvements to the way CR data is captured across the Group, and changes to how we measure and report performance. We now report key performance indicators on a normalised absolute basis, in line with industry practice.
We report safety and environmental performance by calendar year, because we are required to do so for other regulatory reporting. Assertions made in this CR section have been verified by our internal audit function and the processes for measuring our carbon footprint have been externally reviewed by URS Scott Wilson.
This year we have reorganised our reporting of CR issues for ease of reference, bringing together into one section our reports on safety, our people, the environment and communities. Next year we plan to report using a stakeholder model – consisting of workplace, marketplace, the environment and communities – to reflect the integral importance of our stakeholders to our decision-making.