Ken Costa supports BITC's call for a new era of responsible business as it enters its 30th year

• Chairman of BITC Mark Price and Ken Costa lead calls for a shift in how businesses make their profits

• Businesses to tackle some of the key social and economic challenges such as youth unemployment

• Business leaders and their beneficiaries share how businesses are transforming communities and tackling social issues at the charity’s AGM today

Responsible capitalism was top of the agenda at Business in the Community’s (BITC’s) AGM today. The charity, which campaigns for all businesses to act responsibly, brought together 300 senior business leaders, for its annual gathering of members in The Old Vic Tunnels in London.

Yes, we need to build economic growth and prosperity and there is no shame in a business making a profit, but today we are talking about making that profit in a responsible and sustainable way and using those profits to build and support growth in local communities. 

In his address Ken Costa, Investment Banker and recently appointed Chairman of the St Paul’s Initiative, urged the gathered business leaders from companies including Google, Kingfisher, Lloyds Banking Group and Procter & Gamble to reconnect the financial with the ethical.

Ken, who is leading a new initiative exploring practical ways to reconnect business and ethics, said: “The delegates here today might look very different to the protestors at Occupy London, they may have very different jobs but the issues we are discussing are the same. Business leader and protestor alike are responding to fundamental issues that impact on us all wherever we live, work or raise our families. Yes, we need to build economic growth and prosperity and there is no shame in a business making a profit, but today we are talking about making that profit in a responsible and sustainable way and using those profits to build and support growth in local communities. 

“I look forward to working with Business in the Community and its members a step-change in the way we do business.”

BITC Chairman and Waitrose Managing Director Mark Price used the meeting to stress the growing importance of responsible business in light of economic uncertainty and growing public distrust towards banks and big business.

In his address, Mark Price emphasised the mutual benefits to both business and society when businesses integrate responsible behaviour into all that they do. He highlighted the key role that businesses are already playing to tackle some of society’s most pressing issues such as youth unemployment and community cohesion, but challenged BITC members to set an example to the wider business community by scaling up the activities which work and better communicating that business can be a force for good.

He said: “Business in the Community has a bold and interconnected proposition that creates mutual benefit: our member companies help transform communities by tackling key social issues and in so doing are transformed themselves. 

He added: “Now more than ever business must strive to work together for good and build an economy which engages young people, nurtures enterprise, encourages sustainable growth and enables communities that can live in harmony.  An example of how this is already working is through BITC’s Business Connector* programme which places secondees from big business to work full time at grass roots level in some of the UK’s most deprived communities. ”

In recognition of the best examples of business as a force for good, Business in the Community’s Chief Executive Stephen Howard formally opened BITC’s 2012 Awards for Excellence**. The awards continue to recognise the powerful and positive role that business is playing in society by awarding companies for the impact and innovation of their corporate responsibility programmes.

Following the announcement today that Business in the Community will formally merge with Arts & Business, the scheme includes a new award recognising the role of business and the arts in stimulating cultural regeneration. Click here for further information about the 2012 Awards categories and sponsors.

The event also welcomed new members*** and heard from business leaders and their beneficiaries who shared the impact that responsible business is having on both business and communities. Speakers included Paul Drechsler, Wates Group Chairman and Chief Executive and Chair of BITC’s Education campaign who was joined by deputy head teacher Helen Noble to share the powerful impact of Business Class, BITC’s flagship education initiative bringing together business and schools in long-term collaborative partnerships with proven benefits.

Business in the Community is the largest leadership network of companies actively committed to integrating responsible practices within their business operations. On the eve of its 30th anniversary, the charity is using the 2011 AGM as a rallying point to challenge businesses to do more, make a bigger difference and place responsible business at the heart of how they plan for the long term.

Business in the Community’s 2011 AGM is supported by Start, an initiative inspired by HRH The Prince of Wales which aims to encourage the UK public to take simple steps towards sustainable living. Start provides advice and inspiration for the simple, practical and fun ways in which we can all make a start, by bringing together the best ideas from all over the UK.

-Ends-

Notes to Editors

For more information, images or comment contact: 

Linda Considine, 020 7566 8794/07714 411 539 linda.considine@bitc.org.uk

Ochuko Adekoya, 020 7566 8758/07921 941 536 ochuko.adekoya@bitc.org.uk

*About Business Connectors

Business Connectors is a business-led programme borne out of a desire by businesses to do more to connect with and provide a business response to community need across the UK.  It was developed following a consultation in December 2010 with the UK’s senior business leaders on the role of business in the context of the Government’s aspirations for a  ‘Big Society’ and HRH the Prince of Wales’ call for Businesses to step up and increase activity in areas of greatest social need. 

Business Connectors are full time secondments from business, who will work to address local community need by connecting the resource of local businesses to the needs of a local community: small businesses, the voluntary sector and other community groups. The pilot, which has been funded by a grant from the Office of Civil Society involves 10 companies, who are seconding between them 20 Business Connectors who will be trained by Business in the Community and then matched to work within an area of need for an initial 6 months but with a company commitment of involvement in the programme and particular areas for up to three years.  Business in the Community aims to recruit, train and place over 1,000 business connectors over the next 3 years both through business secondments and the creation of a national network of business connecting.

**  About the Awards for Excellence

Business in the Community’s Awards for Excellence recognises the powerful and positive role that business is playing in society. They shine a spotlight on the organisations that are transforming their business by integrating responsible business practices and transforming the communities in which they operate creating positive impacts for society and the environment. For more information about the Awards for Excellence please visit our website – www.bitc.org.uk/awards

***  New Members:

• Aberdeen Asset Management
• AESSEAL plc
• Ardmore Group
• AT & T
• Bibby Line Group
• BNP Paribas
• CH2M Hill
• Clugston Construction
• DFS Trading Ltd
• Elmfield Training Ltd
• EMIS Group plc
• ESRI (UK) Ltd
• Hitachi Europe
• Housing 21
• Interserve 
• John Sisk & Son Ltd
• Logistik
• Midlands Co-operative Society Limited
• Morrison Utility Services Ltd
• Moy Park Ltd
• NG Bailey
• Pace PLC
• Research in Motion UK Limited
• Resolution Limited
• Shepherd Group Industrial Division
• Southern Water
• Tata Steel
• The Phoenix Group
• Tieto UK
• Timpson Ltd
• Tulip Ltd
• UKAR
• Vauxhall
• Visa Europe
• Wakefield & District Housing
• Wm Morrison Supermarkets