Strategy and goals
Our vision is for WPP and its companies to be known for their environmental, ethical and social responsibility. We have a four-point strategy for achieving this:
- Provide leading advice – Be a centre of excellence for environmental and social communication.
- Minimise our impact – Measure and reduce our CO2 emissions and continue to purchase high quality carbon offset so that we are a carbon neutral company now. In 2007 we established a goal to reduce our energy consumption by 20% by 2010.
- Manage risk in our operations – Comply with all laws and industry codes governing marketing material. Improve standards and measurement in marketing practices, employment, supply chain and environment.
- Make a contribution – Continue to leverage pro bono work, contributing 0.4% of revenue.
Business benefits from our CR strategy
We believe that our CR strategy will benefit our business in a number of ways:
- Generate new business opportunities. Increasingly, leading companies are looking for marketing services companies to help them communicate their social and environmental achievements to a wide audience. Our CR program enhances our understanding of current CR issues and supports our businesses in competitive pitches.
- Attract, retain and motivate the best people. There is strong competition for talent in our industry and questions relating to CR are frequently raised by existing employees and new candidates during job interviews. Creating a diverse company culture, adopting leading employment practices and demonstrating our commitment to social and environmental issues can help us to attract and retain the best people. A diverse workforce also enhances our understanding of consumers in all markets.
- Enhance our reputation. We will reduce the risk of adverse publicity by ensuring that our work complies fully with regulations and marketing standards and carefully evaluating the risk associated with new commissions. Our pro bono work and support for charities and community organisations reinforces our reputation for making a positive contribution in society.
- Meet investor expectations. WPP share owners continue to show interest in our CR practices and we aim to respond constructively to their requests for information. In 2007 we responded to requests for information from the following investment organisations:
- – Carbon Disclosure Project
- – Cooperative Insurance Services (CIS)
- – Dow Jones Sustainability Index
- – Ethical Investment Research Service (EIRIS)
- – Insight Investment
- – Investec
- – Pensions Investment Research Consultants (PIRC)
- – Vigeo
WPP is included in the FTSE4Good Index but was not included in the Dow Jones Sustainability Index (DJSI) this year. We believe there are a number of reasons for this: we do not currently collect all the data required by DJSI on employment practices and environmental performance; changes in the way our Company was analysed within its DJSI sector. We have identified areas where additional information will be collected and reported in 2008.