Communication on Progress

Communication on Progress

Participant
Published
  • 04-Feb-2022
Time period
  • February 2021  –  February 2022
Format
  • Stand alone document – Basic COP Template
Differentiation Level
  • This COP qualifies for the Global Compact Active level
Self-assessment
  • Includes a CEO statement of continued support for the UN Global Compact and its ten principles
  • Description of actions or relevant policies related to Human Rights
  • Description of actions or relevant policies related to Labour
  • Description of actions or relevant policies related to Environment
  • Description of actions or relevant policies related to Anti-Corruption
  • Includes a measurement of outcomes
 
  • Statement of continued support by the Chief Executive Officer

  • Statement of the company's chief executive (CEO or equivalent) expressing continued support for the Global Compact and renewing the company's ongoing commitment to the initiative and its principles.

  • 3rd February 2022

    To our stakeholders:

    I am pleased to confirm that Bedford Row Capital Plc reaffirms its support of the Ten Principles of the United Nations Global Compact in the areas of Human Rights, Labour, Environment and Anti-Corruption.

    In this annual Communication on Progress, we describe our actions to continually improve the integration of the Global Compact and its principles into our business strategy, culture and daily operations.

    We also commit to sharing this information with our stakeholders using our primary channels of communication.

    Sincerely yours,

    Dr Scott Levy, CEO
    Bedford Row Capital

Human Rights
  • Assessment, policy and goals

  • Description of the relevance of human rights for the company (i.e. human rights risk-assessment). Description of policies, public commitments and company goals on Human Rights.

  • Since becoming members of the UN Compact, Bedford Row Capital (hereafter BRC) has updated (where applicable) or created (where applicable) a full set of governance policies covering the complete range of corporate behaviour one would expect from a modern people-centred business, including: policies directed towards protecting colleagues from workplace harassment, including physical, verbal, sexual or psychological harassment, abuse or threats.

    Policy implementation is managed and monitored by section heads and senior management. Immediate action is taken, at the highest level of the company, should any instances of policy contravention occur.

    To accommodate growth, BRC has expanded its office space and we have commissioned a design specialist to upgrade the internal office structure/furniture to ensure a healthy workplace environment is provided.

  • Implementation

  • Description of concrete actions to implement Human Rights policies, address Human Rights risks and respond to Human Rights violations.

  • No answer provided.
  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • No answer provided.
Labour
  • Assessment, policy and goals

  • Description of the relevance of labour rights for the company (i.e. labour rights-related risks and opportunities). Description of written policies, public commitments and company goals on labour rights.

  • BRC has updated (where applicable) or created (where applicable) a full set of governance policies covering the complete range of corporate behaviour one would expect from a modern people-centred business, including: policies focused on eliminating (or reporting wherever this becomes identified) forced labour, pay levels commensurate with national expectations, compliance with national legislation and annual review criteria that are objective, fair and, wherever possible, quantifiable.

  • Implementation

  • Description of concrete actions taken by the company to implement labour policies, address labour risks and respond to labour violations.

  • No answer provided.
  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • No answer provided.
Environment
  • Assessment, policy and goals

  • Description of the relevance of environmental protection for the company (i.e. environmental risks and opportunities). Description of policies, public commitments and company goals on environmental protection.

  • BRC is an office-based operation that has no direct manufacturing (or similar) that may have environmental consequences. However, we strive to ensure that our office operates on environmentally-friendly/green principles. For example, we are exploring how to move our shared building (which has a single, shared, electricity supplier) to a green energy supplier, we encourage the use of tap water (rather than bottled water) and we have instituted an office-wide recycling programme. We also source, wherever possible, our office supplies and other consumables from sustainable and/or green sources.

    We have also developed policies, cf the above, focused on promoting positive environmental and human health practices, including online and social media activities.

    BRC has also developed a proprietary ESG screening questionnaire which is used in our client-facing activities.

  • Implementation

  • Description of concrete actions to implement environmental policies, address environmental risks and respond to environmental incidents.

  • No answer provided.
  • Measurement of outcomes

  • Description of how the company monitors and evaluates environmental performance.

  • No answer provided.
Anti-Corruption
  • Assessment, policy and goals

  • Description of the relevance of anti-corruption for the company (i.e. anti-corruption risk-assessment). Description of policies, public commitments and company goals on anti-corruption.

  • As part of the suite of policies developed by BRC, cf the above, we have a dedicated policy covering (anti)corruption. This policy defines what we mean by (anti)corruption and it sets out the measures colleagues should take if they come across or suspect any corrupt activity to be taking place within BRC or by any of our clients. The policy contains measures to safeguard individuals who report potential instances of corruption.

    Our contracts with clients and business partners make specific mention of anti-corruption and ethical behaviour, as appropriate. We conduct due diligence procedures with all potential and new clients, as well as reviewing due diligence criteria and adherence to proper business practices with our clients annually.

  • Implementation

  • Description of concrete actions to implement anti-corruption policies, address anti-corruption risks and respond to incidents.

  • No answer provided.
  • Measurement of outcomes

  • Description of how the company monitors and evaluates anti-corruption performance.

  • BRC is committed to impact and the measurement of outcomes in its internal practices and in its client-facing activities. Like many companies, however, we are at the beginning of this process. We have developed a proforma for an internal audit that will monitor, quantify and assess our activity/progress across a wide range of measures, including: the range of diversity measures, occupational human resource issues, staff demographics etc. The company is due to complete its first annual audit in March 2022.

    We are aware, however, that the measurement of outcomes and impact is a complex and fast developing field. We have identified 2022 as the year of non-financial regulation and we maintain a close watch on developments in this area and intend to respond constructively to relevant innovations.