Corporate Responsibility

Commitment to sustainable business

In 2015 we have undertaken several initiatives to strengthen the Group’s Corporate Responsibility with a focus on our values, ensuring that all our employees understand what is expected of them and that these values are clearly communicated to our stakeholders. We are committed to sustainable business that ensures the long-term success of Vitec for all our stakeholders.

Our reputation is central to our continued success and the corporate responsibility programme is structured and followed by all our employees in delivering our corporate purpose:

To provide vital products and services that support the capture and sharing of exceptional images.

To do this we operate with the following values:

Product excellence – everything we make and do is exceptional
Creative solutions – we are constantly looking to break new ground
Integrity – what you see is what you get
Customer focus – we are nothing without our customers
Collaboration – we work better when we work together

In 2015 we launched our updated Code of Conduct. The Code, which is available on our website and Group intranet, was developed to improve communication, expand disclosures and utilise Q&As to give practical examples. It was translated into several languages widely spoken in the Group, given to each employee and subsequently to all new starters. We also recommunicated our whistleblowing procedures to all employees in 2015 and more detail on this is given under the Business Ethics section.

The Board has overall responsibility for corporate responsibility and considers and approves our key policies including the Code of Conduct, Environmental Policy and Health and Safety Policy. These policies set a standard for all of our businesses and 1,800 employees worldwide. All of these policies are available on our website and Group intranet and are central to our approach on corporate responsibility. The Board has delegated the co-ordination of our corporate responsibility efforts to me and, with the Operations Executive and senior management, we focus our efforts on the areas of business ethics, environment, employees, and community and charitable donations. Our size dictates that our approach to corporate responsibility must be flexible and pragmatic, focusing our resources where necessary to comply with legal requirements. The Board and Operations Executive regularly considers the Group’s reputation with progress against our corporate responsibility objectives actively measured. For example, each month health and safety performance is reviewed to learn important lessons in this vital area, adapting our policies, reporting structure and practices in light of our performance, experience and regulatory changes.

We also launched a Group intranet in 2015, MyVitec, providing employees with a centralised location to find important information on all Group policies, procedures and benefits.

In 2016 we plan to ensure that our Code of Conduct is communicated to all our major suppliers and customers and that we ensure our supply chain is robust with no reputational issues associated with it. We will undertake further training of our employees in this area to ensure our values are understood. We will continue our review of health and safety procedures to improve working practices and to ensure a safe and healthy working environment for all our employees and third parties on our sites. We will continue to focus on diversity, talent development and succession planning to ensure we have the best talent and resources to deliver on our strategic objectives. Progress against each of these will be reported on in the 2016 Annual Report.

Stephen Bird
Group Chief Executive

CR Report

Click on the link below to read the Corporate Responsibility section of our Annual Report 2015.

> Download the CR Report PDF

Governance

Chairman John McDonough explains Vitec’s corporate governance framework.

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FTSE4Good

FTSE Group confirms that The Vitec Group plc has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. Created by the global index company FTSE Group, FTSE4Good is an equity index series that is designed to facilitate investment in companies that meet globally recognised corporate responsibility standards.

Companies in the FTSE4Good Index Series have met stringent environmental, social and governance criteria, and are positioned to capitalise on the benefits of responsible
business practice.

> Visit the FTSE website

Business Ethics

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Environment

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Employees

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Community

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Code of conduct

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