(www.justgiving.com/fundraising/jangrott) Principle moves to employee ownership


Principle Cleaning Services has announced it is transferring the majority of its shares to its 2,300 employees through the creation of an Employee Ownership Trust.


The company, which was founded by Douglas Cooke in 1989, has secured its long-term future, enabling it to continue building its legacy whilst creating an effective platform for growth and retaining its position as one of the industry’s leading independent businesses.


All of its employees, whether full or part-time, are included in the transaction and will benefit from future profit sharing.


Principle’s people and clients are at the heart of the business. Its clients will continue to receive the same level of service excellence and the company’s board, management team and account managers will remain unchanged.


Commenting on the announcement, Douglas Cooke, Executive Chairman, said: “This is a fantastic transaction, which preserves the legacy of the company I founded


Essity wins new sustainability accolades


Essity, maker of Tork hygiene and tissue products, has been included in three prestigious sustainability lists so far this year.


This includes being recognised as one of the world’s 100 most sustainable companies again by Corporate Knights.


The Global 100 list represents the top 1% of companies in the world in terms of sustainability performance. Corporate Knights analyses and compares 6,720 publicly traded companies with a minimum gross revenue of USD $1bn against global industry peers.


The ranking is based on 25 quantitative key performance indicators including sustainable revenue, sustainable investment, taxes paid, carbon productivity and racial and gender diversity. The list was announced during the World Economic Forum in Davos, Switzerland in January.


Magnus Groth, President and CEO of Essity, said: “We are proud to once again be ranked as one of the world’s most sustainable companies. As a global company providing hygiene and health solutions to over a billion people every day, Essity makes a real impact when it comes to people and the environment.


over 30 years ago and places the future development of Principle in the hands of our 2,300 staff, who are our most important asset, many of whom have long service with Principle – including some with over 25 years. To have been able to include our people in the ownership of the business gives me immense pride and will, I am certain, ensure its stability and prosperity for many years to come.”


www.principleclean.com


“Our inclusion in Corporate Knight’s index demonstrates our commitment to responsible business practices throughout our value chain.”


In addition, Essity has also been awarded a place in CDP’s prestigious ‘A List’ for its work in combating deforestation. Based on data reported through CDP’s 2022 Forests questionnaire, Essity was one of a small number of companies to achieve an ‘A’ grade out of more than 10,000 companies scored. For the fourth consecutive year, CDP has also awarded Essity a place on their 2022 Supplier Engagement Leaderboard for successfully working with its suppliers on climate change.


CDP is a not-for-profit charity that helps investors, companies, cities, states and regions manage their environmental impacts via a global disclosure system.


For the second consecutive year, Essity has also been included in the Sustainability Yearbook of S&P Global, an international finance and analytics company that annually reviews the world’s most sustainable companies.


Businesses listed in the yearbook need to score among the top 15% of their industry and achieve an S&P Global Sustainability Score within 30% of their industry’s top- performing company. Essity is in the top 10% of the 7,800 global companies assessed in this year’s yearbook.


Magnus continued: “We at Essity are dedicated to improving wellbeing through leading hygiene and health solutions, while working with sustainability across our value chain. We are proud of our performance and to be included in S&P Global’s Sustainability Yearbook 2023.”


The full ranking of the world’s 100 most sustainable companies by Corporate Knights is available via their website.


www.tork.co.uk/sustainability (www.allergystandards.academy/healthier-buildings-awareness-with-GBAC) www.tomorrowscleaning.com WHAT’S NEW? | 17


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