Download the 2009 CR Review PDF 6.73MB - Tesco PLC

We manage all aspects of our business
using our Steering Wheel – a balanced
scorecard of the key elements of our
business: Customers, Operations,
People, Finance and Community.
We use the Steering Wheel to emphasise
that corporate responsibility (CR) is not
a specialist function in Tesco – it is part
of everybody’s job every day.
The Community segment of the Steering
Wheel reflects our new Community
Promises, which were launched this
year in the UK and will be launched
internationally in 2009:
• Actively supporting local
communities
• Buying and selling our products
responsibly
• Caring for the environment
• Giving customers healthy choices
• Creating good jobs and careers
We are integrating these principles
into the day-to-day management of
our business. Our staff from the shop
floor to the boardroom are expected to
apply them in everything they do from
strategy setting, to decision making,
to performance reviews.
We communicated our Community
Promises to employees using specially
produced leaflets, posters and pocket
guides (see box p48). This Report uses
a similar structure so our progress can
be followed easily.
Our Community Promises are reflected
in the Community Plans in all of our
markets. The Plans are designed to
help us change the way we do business,
for example by reducing our carbon
emissions. Each Community Plan has
the flexibility to reflect local priorities
within the common framework of the
Community Promises. We identify local
priorities by talking to customers and
other stakeholders in each region,
primarily through Customer Question
Times (CQTs), meetings and surveys.
You can see a full list of Community
Plan projects for each country at
www.tesco.com/cr-report09/approach/
strategy/community
Go online!
To see our full
‘Every Little Helps’
strategy visit
www.tesco.com/
about-us/strategy
Managing CR
The Board of Directors formally reviews
our CR strategy once a year, and discusses
emerging issues whenever relevant.
Lucy Neville-Rolfe, our Executive Director
of Corporate & Legal Affairs, is accountable
for our CR performance.
Our Corporate Responsibility Committee
comprises 15 senior executives from
across the business and is chaired by her.
The Committee meets at least four times
a year to develop CR strategy, review
relevant policies and practices, identify
opportunities to improve the sustainability
of the business, agree and monitor
CR KPIs, and engage with internal and
external stakeholders on CR issues.
Every year we invite external speakers to
address the CR Committee and comment
on our CR strategy, performance and
reporting. In addition, in 2008 we held
an externally-facilitated discussion for the
Committee, to help clarify our thinking on
Tesco’s key CR issues and how we respond
to them.
Corporate governance
Managing environmental, social and
governance issues is essential to good
corporate governance, as these impact
on reputation and the long-term success
of the business.
We have clear, transparent and effective
policies and processes for managing our
business responsibly and in accordance
with the law.
We aim for the highest standards of
behaviour from all employees. This
requires a visible commitment from
the top and clear, well communicated
guidelines so employees know what is
expected of them.
Clear lines of accountability are essential.
The Board of Directors has overall
responsibility for managing risks to
our business and reputation, including
those related to CR. The Board’s Audit
Committee, Nominations Committee
and Remuneration Committee are
responsible for related processes and
controls. In addition, the Executive
Committee monitors controls through
the Compliance Committee, Corporate
Responsibility Committee, and Finance
Committee. Reports from each Committee
are circulated to the Board, which holds
a formal discussion on each at least once
a year.
For more information about the roles,
responsibilities and independence
of Board members as well as details
of our corporate framework visit
www.tesco.com/corpgov
47
Tesco PLC Corporate Responsibility Report 2009