UK - Corporate social responsibility standards for the financial services sector have been developed by insurers and leading high street banks.
The standards – published by the Forge Group which links the Association of British Insurers and the British Banking Association – explains the business case for CSR and how a management and reporting framework can be developed to comply with it.
The paper – Corporate Social Responsibility: Guidance for the Financial Services Sector – was also put together in consultation with leading CSR campaigners including the Universities Superannuation Scheme.
The paper covers the issues of human rights, financial inclusion, community involvement and labour standards.
BBA chief executive Ian Mullen said: “We are sure that these guidelines will help continue to raise standards across our sector.”
ABI director general Mary Francis said: “The right approach to social, ethical and environmental issues is vital in adding and preserving value for investors and in the companies they own.”
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.
The Pensions Advisory Service (TPAS) helped 187,000 people in 2017/18, a 9% fall on the previous year despite setting up special helplines for specific scheme members.
The Liberal Democrat party has passed a motion pledging to cap tax-free lump sums under Freedom of Choice at £40,000 if elected into government.