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Institutes launch business ethics charter mark



Posted on 15-03-2012.

The Institute of Business Ethics (IBE) and the Chartered Institute for Securities and Investment (CISI) are inviting organisations to join their new ethical business accreditation scheme.
The two non- profit bodies, which promote high standards of ethics and integrity in business and finance, have set up the Investing in Integrity process charter mark.

To gain the mark - for whole organisations or business units – a company needs to carry out a comprehensive on-line self- assessment of their ethical policies, procedures and practices.
An independent assessment will then be carried out by the GoodCorporation, a global auditor of corporate responsibility and business ethics. This involves site visits, staff interviews, an employee survey and reviews of documentation.

The aim of this exercise is to ensure that responses that the subscriber gave to the self- assessment questions are supported in practice, an indication that the business “practices what it preaches”, according to a statement from the IBE. 

The mark is awarded for an initial five years. It can be openly displayed, subject to annual self-certification that there has been no material change in the subscriber’s ethical policies, procedures and practices.

Balfour Beatty and IMI Group are the first companies to submit to the process.

Ian Tyler, chief executive of Balfour Beatty, said organisations are always looking for ways to demonstrate commitment to customers and other stakeholders, and gaining better assurance that their partners and suppliers share that commitment.

“This is true of both public and private sector organisations, which are increasingly aware of the legal and reputational damage that third parties can cause them, if they do not operate to the same ethical standards,” said Tyler.

“We believe that Investing in Integrity, backed by the IBE’s reputation in business ethics, can perform a valuable role in helping Balfour Beatty and other like-minded organisations to provide evidence of their commitment to act with integrity.”

Firms wishing to join the Investing in Integrity scheme should contact Andrew Hall, CISI, at andrew.hall@cisi.org or visit investinginintegrity.org.uk.

(source: FM-WORLD)

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