The client and background
Storengy UK wanted to develop a Responsible Business Charter which would identify key aspects of its business and responsibilities to its main stakeholders and community, to ensure that the measurable targets in its charter could be openly scrutinised. The company asked CfGS to create a separate Responsible Business Board to ensure transparency, oversight and guidance on business activity affecting the local community, employees and business network.
What we did and the impact
CfGS has managed and overseen the process of creating the Responsible Business Board and aligning it with Storengy UK’s Business Charter and will provide ongoing independent support to the board.
The Board will focus on 4 key areas:
- Fair Business Growth
- Transparency and Accountability
- Fair Employer
- Supporting our Communities and Environment
For Storengy, a vital governance consideration was in ensuring that there will be scrutiny of the Key Performance Indicators of the charter throughout the year, with the outcomes and recommendations highlighted to Storengy UK’s stakeholders through a publicly disclosed independent Annual Report.
The establishment of the Board will highlight areas of interest or concern among Storengy UK’s stakeholder groups, and will focus on business ethics, social responsibility, and social value by acting upon recommendations to improve the business and any impacts it may have on society.
What they said
“This is a fantastic innovation that seeks to hold business publicly to account for the crucial aspects of its relationship with its community, employees, environment and ethical business practices in an open and transparent setting. We plan to make this an exemplar of ethical business and public accountability.” – Christine Gaskell CBE, Chair of the Responsible Business Board