Companies that adhere to a greater corporate and social responsibility will be more successful, and offer greater returns to shareholders and the communities they serve, said Costain.
“Costain Cares will establish a new level of competitiveness,” said chief executive Andrew Wyllie. “It will shape the future of our business and drive actions on a day-to-day basis.”
It will define what the company does, from building relationships with stakeholders, to securing new orders from major customers and delivering profitable solutions through innovation.
According to Costain, the business case for operating responsibly is compelling, as are the benefits that this will bring in the form of increased shareholder value.
Responsible business is not a trade off between profit, people and planet, said Costain, and companies should be expanding the connections between social and economic progress and looking at innovative ways to integrate responsible business practices into their core activities.
“Costain Cares is about an enhanced level of commitment to our stakeholders,” said Costain’s Corporate Responsibility Director Catherine Warbrick. “We will focus on the issues they really care about, and set more ambitious performance levels against which they can hold us to account. We are now raising the bar even further, as we work closely with our stakeholders to achieve our vision of being one of the UK’s leading solutions providers.”
Business in the Community (BITC), the business-led charity, has published research showing that FTSE350 companies which consistently manage and measure their corporate responsibility outperformed their FTSE 350 peers on total shareholder return (TSR). BTIC encourages companies to take actions such as Developing products and services with improved social and environmental impacts, investing in communities and managing resources sustainably.
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