Balfour Beatty has signed up to a new accreditation system used to evaluate whether companies display the right ethical policies.
Investing in Integrity is a new initiative jointly developed by the Institute of Business Ethics and the Chartered Institute for Securities & Investment.
Subscribers carry out an on-line self assessment of their ethical policies, procedures and practices. An independent assessment is then carried out by global corporate responsibility auditor GoodCorporation, and will involve site visits, staff interviews, an employee survey and reviews of documentation.
Balfour Beatty chief executive Ian Tyler said: “Increasingly organisations that are determined to conduct business ethically are seeking ways of demonstrating that commitment to customers and other stakeholders and gaining better assurance that their partners and suppliers share that commitment.
“This is true of both public and private sector organisations, which are increasingly aware of the legal and reputational damage that third parties can cause them, if they do not operate to the same ethical standards. We believe that Investing in Integrity, backed by the IBE’s reputation in business ethics, can perform a valuable role in helping Balfour Beatty and other like-minded organisations to provide evidence of their commitment to act with integrity.”
Balfour Beatty and IMI Group are the first companies to submit to the process.
Institute of Business Ethics director Philippa Foster Back said: “Companies which aim high in everything they do, know the benefits to working ethically. The IBE is asked how organisations can demonstrate that their code of ethics, policies and procedures are embedded with their employees; and with the development of Investing in Integrity, they can do precisely this.”