Vauxhall in green accounting first
Vauxhall Motors Limited has become the first UK motor company to incorporate environmental and social reporting into its 1999 financial results.
Vauxhall’s landmark sustainability report comes on the eve of the publication of draft guidance on environmental reporting by the Advisory Committee for Business and the Environment.
The motor company’s corporate report now includes policies, such as Vauxhall’s alternative-fuelled vehicles and car share schemes, the nationwide Trailblazers scheme that invites long-term unemployed to develop their job skills and the new Family Friendly Policies.
Nick Reilly, chairman and managing director, said: ‘Sustainability is not an easy concept to grasp, and this report is the next step for Vauxhall. We are making good progress towards our objectives of consolidating our economic position, whilst building both our ?environmental leadership? and social policy credentials.’
Companies have become increasingly accountable over the past decade to stakeholders and the public who want information about how they perform socially and environmentally as well as financially.
‘At the beginning of 1999 we were hoping to maintain the previous year’s level of return; however through significant increases in efficiency, cost savings in our manufacturing, after-sales and headquarter operations and some one time favourable adjustments, we have been able to register a good increase in profit over 1998,’ said Reilly.