UK - Sustained pressure from pension schemes has prompted mobile phone operator mmO2 to release its first corporate responsibility report.
The University Superannuation Scheme, Hermes Pensions Management, Jupiter Investment Management and Isis Asset Management have all been involved with the company over its business practices during the past year.
mmO2 group public affairs director Richard Burton said it was important the firm explained how its corporate responsibility strategy contributed to enhanced shareholder value.
Burton said: “The expectation for reporting on corporate responsibility is something important for us to fulfil.
“That is why we consulted with the investment community on what they would like to see in a report and why we organised a briefing to present the report and open ourselves up to questioning.”
Insight Investment was asked to give feedback on what it might like to see in the report and issues that needed to be addressed.
Investment responsibility team associate director Steve Waygood said the report was a “good first time job” although additional work would be needed next year.
Issues addressed in the report include human rights in supply chains for both goods and services, stolen mobile phones, mobile phone radiation and some corporate governance issues.
mmO2 chairman David Varney said: “We have a duty to take concerns seriously and address them directly.
“We will do so through active dialogue with every group that seeks to engage with us and to express their concerns.”
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