Alex Ferrand explains how companies can use Business in the Community's (BITC) Responsible Business Tracker® to have a positive impact on society and the environment.
We have launched our first official cycle of the Responsible Business Tracker®, our responsible business performance measurement tool. The Tracker is underpinned by the UN Global Goals – the closest thing to a universal to-do list for the world.
Last year, we piloted the Tracker with 64 of our members from across 24 sectors; the findings are summarised in our Insights report. We discovered that 72 per cent of companies have started to formally engage employees and senior leaders to identify priority responsible business issues. However, only 16 per cent have integrated this into the risk register or consulted externally to review them against the Global Goals. We also found that 86 per cent of participating companies had a purpose statement, but only 17 per cent had embedded it across departments or within team targets.
This gap is too great; UK PLC now needs to translate good intentions into action. The Tracker offers businesses a fantastic opportunity to do just that by highlighting gaps and identifying areas for improvement. It is scored so change can be tracked over time. Companies can also use it to benchmark performance against their sector peers and the overall participants, however scores will not be made public. The Tracker is designed to be a tool to drive increased internal engagement and, ultimately, to increase the positive social and environmental impact that each business can have. The Tracker is one of the key features of BITC membership, enabling those who sign up to engage with us to drive improvement.
Calor Gas, one of our forerunner companies, stated: “The Tracker not only helped us to take stock of what we are currently doing, it also gave us loads of ideas for how we could progress and develop, to take the next steps on our responsible business journey.”
Our Tracker is a tool that can help drive this change.
To find out more and for more information about how your businesses can benefit from Tracker participation, get in touch at RBTracker@bitc.org.uk.
Alex Ferrand is Responsible Business Tracker® Manager at Business in the Community