Environmental Policy 4
-Corporate Social Responsibility
-Triple Bottom Line
Marks & Spencers Policy 9
Recommendations & Conclusions 13
Appendices-Summary of Plan A Progress
Marks and Spencers Plc. began life as a single trader, Michael Marks trading from a market stall in Leeds, where he sold all goods for one penny. In 1894 Michael marks has establish 12 stores and start to look for a Partner. It was then that Thomas Spencer became involved after investing £300. Marks & Spencers Plc. (M&S) are now one of the UK’s leading retailers, with over 21 million people visiting their stores a week. M&S supply high quality, great value clothing and home products, as well as outstanding quality foods, responsibly sourced from around 2,000 suppliers globally. They employ over 75,000 people in the UK and abroad, and have over 600 UK stores, plus an expanding international business. They are the number one provider of women’s wear and lingerie in the UK, and are rapidly growing their market share in menswear, children’s wear and home, due in part to their growing online business. Overall, their clothing and home ware sales account for 49% of their business. The other 51% of their business is in food, where they sell everything from fresh produce and groceries, to partly-prepared meals and ready meals. Now more than ever, they are also known for their green credentials as a result of their five-year eco plan, Plan A, which will see them, amongst other things, become carbon neutral and send no waste to landfill by 2012. They are listed on the London Stock Exchange and are part of the FTSE 100 group of companies. Marks & Spencers reported in their Quarter 2 2010/2011 Trading statement that their food market share was up 10 bps to 3.7% Due to the huge product range M&S have I will be concentrating on the Food range for the purpose of this assignment. Environmental Policy
So what is an Environmental Policy?
A Company’s Environmental Policy is a public statement of an organisation's philosophy, intentions, and objectives regarding the environment. It can relate to topics such as: •Air quality
•Environmental regulation of industry
•Water and marine
•Resource use and product policy
•Chemicals and hazardous substances
It is also related to Corporate Social Responsibility which is the term used by organisations to describe the impact it is having on society as a whole and how they plan to address that impact.
This can be illustrated as follows:
By applying this model Companies are not only answerable to shareholders but also their stakeholders, such as suppliers, customers, the local community, the government, employees and unions. By effectively managing a company’s activities benefits can be made for both the company and its stakeholders. This is known as the “Triple” bottom line where the needs of the company, the environment and social elements are all met. The World Business Council for Sustainable Development in its publication "Making Good Business Sense" by Lord Holme and Richard Watts, used the following definition. "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large". Source: http://www.mallenbaker.net/csr/definition.php
Environmental Law is...