We need the continuing support of our stakeholders. We benefit from their expertise, advice and constructive criticism, and believe that they, in turn, benefit from their relationships with us. Together with them we can achieve more to help Britain prosper as the best bank for customers.
Who are our stakeholders?
We identify our stakeholders through reference to our daily business activities, defining them as: ’those who affect and are affected by our operations’. In addition to our customers and colleagues, they also include: central, regional and local government, regulatory bodies, investors, suppliers, trade unions, NGOs and opinion formers.
Our Code of Business Responsibility sets out our approach to engaging and working with all of our stakeholders. The Group Board, Group Executive Committee and divisional leaders discuss our stakeholder relationships as necessary, although these are generally managed on a day-to-day basis by those best placed to do so. For example, our Employee Relations team manages our relationship with Trade Unions and our Sourcing teams manage those with our suppliers.
We engage with stakeholders regularly, in various ways, including contact during business activities, face-to-face meetings and engagement on specific issues such as regulation. As part of our responsible business agenda, we also engage with sustainability commentators and experts through our independent Stakeholder Panel.