UK - Companies must understand better the link between corporate responsibility and their own performance, ABI director general Mary Francis told delegates.
Francis – the keynote speaker at the Corporation of London and Isis Governance and Socially Responsible Investment for Local and Public
Authority Pension Funds conference on Tuesday – said improving awareness would be a priority throughout 2004.
Francis said there was growing awareness of the importance of managing corporate responsibility risks but there was still room for improvement.
She said: “We won’t get anywhere if we approach it with a bossy-boots mindset that is determined to tell companies to behave in ways we personally have decided is good for them.”
Francis claimed 80% of FTSE100 companies gave “moderate to full compliance disclosure”.
She continued: “If we can convince companies that proper management of responsibility issues is in their interest, that of their workforce and that of their customers, then they will have good grounds for responding.”
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Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point