Provident Financial has published its 2011 Corporate Responsibility Report

November 15, 2012 in Our View, Reporting

Provident Financial UK and Ireland launched recently its latest Corporate Responsibility (CR) Report, which covers the 2011 year. The data and accompanying commentary of the report was externally assured by the management consultancy Corporate Citizenship. This is Provident’s eleventh such report (external reporting since 2003) and sets out the progress made by the company’s CR programme in terms of managing the social, environmental and economic issues that are relevant to its business activities and key stakeholders.

The report, which assured Provident the maximum rating score of 100 in the FTSE4Good Index (globally recognised corporate responsibility standard), is designed around six key components (governance and management, customers, people, suppliers, community, and environment) that are covering the entire range of responsibility reporting indicators. After a brief introduction about the Provident business, looking through the report, the most important responsibility highlights of 2011 for Provident Financial are:

  • maintaining or improving the company’s rating on the mainstream sustainability indices (eg BITC CR Index, Dow Jones Sustainability Indices, FTSE4Good);
  • 91% of home credit customers were either very or quite satisfied with the service provided to them;
  • the company’s employees received 12,610 training days in 2011;
  • the assessment of 17 of its top 100 suppliers in 2011 as a key component for a sustainable supply chain;
  • Provident supported 34 community projects through the Good Neighbour program, which meant a direct help for 43.172 people;
  • also, Provident managed to reduce the energy use by 33% since 2008, with its head office building receiving in April 2011 the ISO 14001 certificate.

In the company’s opinion, as well as in its assurance partner, Corporate Responsibility Report 2011 reflects the principles of AA 1000 (2008): inclusivity, materiality and responsiveness.

Peter Crook, Provident Chief Executive Officer, stated that “CR is a hugely important part of how we do things at Provident. It is not only part and parcel of the group’s mission and values statement but is also explicitly referenced in one of our four strategic aims. As such, it guides how we treat our customers, employees and other stakeholders, as well as committing us to take account of and report on our wider environmental and societal impacts. By ensuring that we continue to operate in a way that delivers against our strategic aims which in turn enables us to work towards achieving our mission, Provident can continue to be a successful, responsible and sustainable business”.

About Provident Financial
With a history of more than 130 years, Bradford-based Provident Financial is the UK’s leading provider of personal credit products to the non-standard lending market. It employs over 3,700 people and has 10,500 self-employed local agents which serve 2.5 million customers across the UK and Ireland. Provident’s mission is to be the leading non-standard lender in the UK, acting responsibly in all its relationships and playing a positive role in the communities it serves.