Responsible business outlook.
Our Responsible Business Agenda in 2010 and beyond
It will take several years for confidence to recover from the economic crisis of 2008/2009 and to regain trust in the financial system. Long-term financial institutions such as Legal & General can play a valuable and worthwhile role in recovery, by channelling investment for growth, jobs and returns. We will do so as guardians of savings, managers of risk, and stewards of the assets in which we invest.
As a major UK shareholder, we try to work closely with investee companies, but even a 4.5% shareholding cannot always change the mind of a strong CEO and Board. We want to increase investor collaboration within our own sector and to improve standards of corporate governance.
We remain committed to year on year reductions in our environmental impact and welcome the increasing presence of the environmental debate in mainstream media and aim to follow the 'polluter pays' approach through the CRC Energy Efficiency Scheme.
We remain strongly committed to supporting our employees contribution to the third sector. We believe that consistent performance in this area is important to employees and the organisations they support, particularly in times of economic uncertainty.
As we increase the revenue from our expanding overseas businesses we recognise that our governance structure needs to grow in the areas of human rights, corruption and bribery and environmental policy. We continue to maintain a balance between effective oversight, international standards of business and local custom and practice.
We recognise the importance of the opportunity we have to drive the agenda to start the economy by investing long term return pension fund monies. The debate about UK infrastructure investment will continue well into 2010.
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