British American Tobacco Pledges Ongoing Commitment to ‘Shared Value’ in 2014 Sustainability Summary Report
March 30, 2015 /3BL Media/ - British American Tobacco publishes its latest ‘Value Shared’ Sustainability Summary report detailing how the company is investing in a sustainable future for its business and society.
The new report covers how, in 2014, the company has enhanced its approach with the development of a new sustainability agenda focused on the most important issues for the business and its stakeholders – harm reduction, sustainable agriculture and farmer livelihoods, and corporate behaviour – with clear commitments to:
- Research, develop and promote a range of less risky alternatives to regular cigarettes;
- Work to enable prosperous livelihoods for all farmers who supply tobacco leaf;
- Operate to the highest standards of corporate conduct and transparency.
Nicandro Durante, Chief Executive, comments: “Sustainability is not a choice or something that is ‘nice to have’ – it is crucial to securing the future of our company and for creating shared value for our consumers, our shareholders and our stakeholders.”
The concept of shared value – making sure that what it does as a business benefits both shareholders and society – underpins the company’s whole approach to sustainability.
As a major international business in a controversial sector, British American Tobacco has a long history of focusing on sustainability and has been producing independently assured reports since 2001. It has made significant progress in that time – reflected by the Group’s inclusion in the Dow Jones Sustainability Index (DJSI) for the last 13 years, 12 of which as industry leader.
Report highlights include:
- Becoming the first tobacco company to have a nicotine product licensed as a medicine – its innovative new nicotine inhaler, Voke, will be launched in the UK by the end of 2015.
- Publication of the Group’s new Human Rights Policy, detailing its commitments to eliminating child labour, no exploitation of labour and respect for freedom of association.
- 99% of Group markets undertaking youth smoking prevention activities.
- Publication of new Principles for Engagement as part of the Group’s commitment to transparency and integrity in lobbying.
- Investing more than £65 million each year in providing on-the-ground advice and support for over 100,000 contracted farmers worldwide, helping them to build successful, profitable businesses.
- Achieving a 45% reduction in CO2e emissions from 2000 baseline and a 24% reduction in water use from 2007 baseline.
- More than £50 million invested each year in the fight against the tobacco black market – a trade that cheats governments out of some £30 billion each year in taxes, puts consumers at risk, and actively markets and sells tobacco products to children.
Nicandro Durante, Chief Executive, explains: “These areas are not only where we face some of our biggest challenges, but also where I see the greatest opportunities. They can add value to society, as well as helping to ensure we deliver our Group strategy and BAT continues to grow and thrive in the long term.”
For more information and to download the report, go to www.bat.com/sustainability.
Notes to editors
British American Tobacco’s reporting is independently assured by Ernst & Young LLP and it continues to present its reporting in innovative and engaging ways – as well as the 18-page Summary, the report is also available as an interactive PDF and in a free app for iPads and Android tablets, including additional animated content and videos. Detailed performance information, including progress against goals, data charts and Global Reporting Initiative (GRI) G4 reporting, can be found online.