We are developing a CR agenda for the company to support delivery of our Group strategy. This will be based on an assessment of stakeholder expectations, taking into account the CR issues particular to the defence industry and recognising that the company will progressively be judged against peer companies in other sectors.
Achieving our goals requires that all our businesses implement company policies and deliver goals set in their own CR plan. A key aspect of our CR agenda will be to maintain good business practice and continual improvement across our businesses.
The overall trend in progressive CR is a move from being reactive or passive to taking an increasingly proactive approach. This implies that companies in addition to addressing their own operating issues of safety, environment, community, ethics and people will also play a key role in driving higher standards for specific sector or regional issues. Our strategic intent requires us to implement policies and standards across our operating regions and to extend these across our supply chain and sector.
Increasingly, business is also expected to demonstrate responsible product stewardship and to understand and manage the impacts of the production, operation and end of life of its products. We have commenced this debate in relation to the environmental sustainability of our products and will extend this further to include other broad aspects of our corporate responsibilities.
There are some issues which will impact all businesses to some degree regardless of their sector. These include global warming and differences in attitude and approach of each generation (to the world in general and specifically the workplace). We need to understand the potential impact of such issues on our environment and business and develop appropriate responses.
We will continue to debate these issues and the implications of our Group strategy against a rolling plan, with our Executive Committee, CR Committee and Board of Directors. We will continue to engage with stakeholders on the general direction and performance of our CR agenda.
