participant experiences:

anz and the corporate responsibility index

By Nathan Edwards, Group Environment & Sustainability Manager, Australia and New Zealand Banking Group Limited (ANZ)

ANZ's business strategy is based around creating sustainable value for all stakeholders. Participating in the Corporate Responsibility Index has allowed ANZ to review risks and opportunities within the workplace, marketplace, environment and community, and how we have integrated such considerations into current business practice.

One of the outcomes has been a heightening of awareness within the organisation around our strengths and weaknesses. This has resulted in a defined action plan for improvement.

Until recently we have not had a central function for the collation and external reporting of such information across all business units. Although the collation of information for the Corporate Responsibility Index was a significant and challenging task, it has greatly assisted in improving our group-wide reporting processes.

To reduce 'survey fatigue' we took the opportunity to also map the Corporate Responsibility Index questions against the assessment criteria for the Dow Jones Sustainability and FTSE4Good indices, to which ANZ is a member. This will allow us to respond to such reviews in a more effective and efficient manner.

What we experienced in the process of participating in the Corporate Responsibility Index was that although it requires a high degree of assessment across a wide range of issues, it should not be seen as a complete solution for adopting and/or reporting your corporate responsibility. The Index provides a valuable tool for self-assessment and internal engagement and should be considered a success if it raises some important questions that have not been asked before.

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Further information on how ANZ is making a sustainable contribution to society is available at: www.anz.com/australia/aboutanz/

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The Corporate Responsibility Index is funded by the Australian Federal Government. The Index, developed and maintained by Business in the Community in the UK, is a project of St James Ethics Centre supported by Ernst & Young. Our media partners are The Sydney Morning Herald and The Age. Project catalyst: Pilotlight Australia.