BAT issues sustainability summary
British American Tobacco says that its latest annual sustainability summary, published today, highlights its commitment to shared values, where shared values are based on the premise that business can ‘deliver value for its shareholders without this coming at a “cost” to society’.
The report is said to provide updates and demonstrate progress that has been made in three ‘key areas’: harm reduction, sustainable agriculture and farmer livelihoods, and corporate behavior.
Within each of these areas, the report sets out commitments to:
- Research, develop and commercialize products that are less risky than are regular cigarettes;
- Work to enable prosperous livelihoods for all famers who supply BAT’s tobacco leaf;
- Operate to the highest standards of corporate conduct and transparency.
“The concept of shared value is one that I truly believe in – this is why it forms the foundation of our approach to BAT as a sustainable business, and has done for many years,” said chief executive Nicandro Durante.
“As a business working in a controversial industry, operating in over 200 markets around the world and with an agricultural supply chain, we face many different challenges and issues.
“What this report demonstrates is our continued commitment to upholding the highest standards of corporate conduct and transparency wherever we operate, and how we are working to address these challenges in order to grow our business for the shared value of both shareholders and society.”
BAT says its commitment to openness, collaboration and engagement has been underscored this year with the inclusion of an ‘Expert View’ introduction from three well-respected independent external stakeholders: Scott Ballin, health policy advisor and key opinion leader on tobacco harm reduction; Tony Juniper, a leading British environmentalist, campaigner and sustainability advisor; and Simon Webley, Research Director at the Institute of Business Ethics.
The report is at: www.bat.com/sustainability.