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September 2006
Companies are making continuous improvements in their environmental practices, with climate change, dwindling water supplies, waste and reputation all featured highly on the corporate environmental agenda in 2005, according to UK-based Business in the Community's Environment Index 2005.
Of the 155 companies that participated in the Environment Index 2005, 145 did so publicly and 10 through Business in the Community's Confidential Benchmarking service. The average overall score achieved by companies was 83% in 2005, 23% higher than when the Index was launched a decade ago.
The Environment Index benchmarks companies against both their sector peers and all companies that have participated in the Index, on the basis of their environmental management and performance in key impact areas. A voluntary exercise, the Index helps companies analyze gaps, measure progress, drive improvement and raise awareness of the environment as a strategic, competitive issue at board level.
Some of the Index’s key findings:
- 89% of companies manage their impacts through an environmental management system; 63% have this independently assured.
- 83% of companies have a procurement policy that includes environmental criteria, but only 38% of companies work with their suppliers to cascade environmental principles further down the supply chain.
- 80% of companies measure and disclose performance on climate change, but only 50% release details of progress against their targets to the public.
- Only 20% of companies can demonstrate continuous improvement on waste and resource management over the past three years.
- 79% of companies have an assurance process which is reviewed by an independent group audit or third party.
- 98% of companies now identify their key issues through a regular environmental risk assessment and/or a formal environmental impact review.
- The most regulated sectors scored highest, but sectors affected by reputation, such as accountants and consultants, also featured in the top 10.
An Executive Summary of the Environment Index 2005, including the full ranking, is available for download.
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