Lloyds TSB has produced its first community report.
The four page document, produced by the group’s public affairs unit, is being seen as the first step on the way to a full social audit. Lloyds spokesman John Swannick said it would be expanded upon next year as reporting systems improved.
‘Next year we’ll almost certainly be including equal opportunities and employment rights, and it will be more like a social report,’ he said.
Although the group has also simultaneously published its second environmental report, Swannick said the plan was to keep both documents separate for the time being. ‘We may look at a change in the format in the future, but we’ve shied away from a combined environmental and social report because we just haven’t set up the systems for full reporting yet,’ he said.
The community and environmental reports are being sent out as part of a pack which includes the group’s existing code of business conduct and a brief statement on its involvement in third world markets, especially Latin America. This ‘emerging markets report’ pledges the bank to working with other multinationals on debt relief initiatives.
The community report shows the group invested £9 million in community programmes during 1998, on top of £21 million distributed by its foundations. Most of this money went to encourage economic and social regeneration in deprived areas.
The report also highlights the group’s efforts to develop a banking package designed to meet the needs of community credit unions – and its provision of financial support for Salford University’s pilot programme of community-based financial initiatives to bring mainstream financial services to deprived areas.
The 12 page environmental report, verified by RPS Group, sets out nine objectives, including a commitment to promote awareness of environmental risks among small and medium-sized business customers.