New Economics Foundation – Happy Planet Index 2.0. http://www.happyplanetindex.org/learn/why-we-need-hpi.html
How does this actually work within the Virgin Group?
At Virgin Management, it’s the role of the CR/SD team to have an overview of the main trends, risks and opportunities of global issues, so that we’re well informed and understand how they will affect Virgin businesses (and of course how we affect them). Armed with this knowledge we act as a sounding board for all the businesses. We are also improving our investment and brand criteria so that any new company that joins the Virgin Group will be asked to adhere to our corporate responsibility and sustainable development approach.
The aim is to agree a consensus with all our companies on
what their contribution should be within their sectors and in comparison to their peers. We want Virgin companies to share their thinking and aim for a common goal so that we can achieve more, both by supporting one another and also by pushing each sector in a more sustainable direction. Rather than taking a top down governance approach towards corporate responsibility and sustainable development, we prefer to explain, guide and encourage the Virgin companies. In this way, we will ensure they understand that embracing sustainability as a core value means acting now on relevant issues which will ultimately be beneficial for their bottom line. We must change the mindset that running a business in a responsible and sustainable way means sacrificing growth and profits.
1. You can find a definition of SD on page 8
“
If you were talking to your mates over a beer about your Product Story, would you be proud, or would you be ashamed?”
THE THIRD STEP: RISK AND OPPORTUNITY REGISTER
Key headline risks and opportunities are added to a register, which is discussed at a quarterly SD Council meeting and following this meeting appropriate actions are taken .
These governance steps have been designed to help all our companies fulfil their responsibilities without making the task too onerous. They focus on the benefits of corporate responsibility and sustainable development to the business, for example by creating a competitive advantage, ensuring resource and cost efficiency, as well as by managing risk.
We need to keep listening to our companies to make sure new risks are identified and solutions found and disseminated as quickly as possible. We at Virgin believe in putting our trust in robust science and sharing our methods of best practice. We are constantly learning and we will communicate our progress to you as we go.
TARGET: We will review and update the risk and opportunity register every six months.
11
The SD Council is chaired by Virgin s CEO,
Group’
Stephen Murphy and consists of senior management, Virgin Unite and the CR/SD team.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88