An online tool that enables businesses to better chart their sustainability journey and swiftly progress along it has entered its pilot stage.
Responsible 100 is the product of Profit Through Ethics project, and describes itself as a “management tool, a business ranking, a public internet platform, an identification mark and a growing social movement”.
Businesses wishing to participate must answer up to 43 questions on topics such as the environment, finance and governance, human rights, ethical choices and workforce – questions devised by Responsible 100 in collaboration with NGOs and campaign groups such as ActionAid, Christian Aid and the UK Sustainable Investment and Finance Association (UKSIF).
Answers provided by businesses are vetted and scored according to a specific and transparent process, and the internet platform allows stakeholders to scrutinise answers. Businesses are then given an overall a score out of 100.
“Responsible 100 enables businesses to balance their pursuit of profit with the interests of society and the environment”, said director Michael Solomon.
“At the same time it empowers people – consumers, employees, neighbours, suppliers – in identifying and supporting them.
“It is a unique tool for anyone who wishes to see businesses prosper by being as open, fair and sustainable as they possibly can be.”
Solomon added, “It is incredibly exciting that a growing number of companies – large and small – are buying into this idea.”
Responsible 100 will hard launch on January 1 next year, with the publication of the top 100 ranking of top scoring businesses.
As more companies join and answer more questions, it is hoped that an increasingly detailed picture of the different standards of responsible business practice will be built, enabling businesses to compare their performance against their peers and competitors on a wide range of social, environmental and ethical challenges.