Corporate Responsibility What is it and what has it got to do with us? CCAB Groups in Europe Annual Meeting 19th October 2005

What is Corporate Responsibility? CR is about how firms manage their businesses to bring an overall positive impact socially, environmentally and economically, whilst at the same time maximising value for their shareholders Sustainability is the ability “to meet the needs of the present without compromising the ability of future generations to meet their own needs” Often used interchangeably, the former is a more encompassing term for companies, reaching into all areas of their activity, including corporate governance, policies on transparency and stakeholder relations Sustainability reaches out beyond the confines of the “corporate” and applies to governments, public bodies, civil society and individuals

Raising our CR profile Qualifications Representations Benefits Thought leadership

What has been going on? FEE: Sustainability Working Party and Assurance sub-groups –FEE Discussion Paper: Assurance for a Sustainable Supply Chain ACCA UK –Awards for Sustainability Reporting CIPFA –Discussion Paper: Advancing Sustainability and Reporting: An Agenda for Public Service Organisations CIMA –OFR & Sustainability Roundtable

What has the ICAEW done so far? Sustainability: the role of accountants

What else have we done? Benefits –Sustainability Resource Centre Representations –FEE: Sustainability Working Party and Assurance sub-groups –DEFRA Environmental KPIs consultation –IFAC Environmental Management Accounting, Exposure Draft of International Guidelines Thought Leadership –Publications - e.g. Realising Aspirations –Profile and Speeches delivered by Paul Druckman

In this way we can help fulfil our roles The CCAB member bodies have 2 connected leadership roles: Champion their members To act in the public interest