Corporate Social Responsibility/ Sustainability Done Responsibly: Identify > Measure > Manage > Change
Case Study: How the Canary Wharf Group generates employment and creates opportunities for local businesses in the Canary Wharf Estate
The Canary Wharf Estate is located in an area of London where many young people do not gain the skills required to move into the job market. So, Canary Wharf Group needs to create a long-lasting impact through indirect economic value.
In developing the Canary Wharf Estate, Canary Wharf Group strives to create economic opportunities for the people living in the areas surrounding its operations. After measuring and setting targets, Canary Wharf Group took action to secure jobs for local people – in 2014, 20% of its recruits were local –, enhance graduate employment, offer internships and placements and support local businesses through a range of initiatives such as the East London Business Place (ELBP) and the South London Procurement Network (SLPN), which in 2014 helped local businesses to win £7.7 million worth of work
Using the GRI Guidelines in order to maintain and increase the value of your company
With each publication in this series the FBRH team will highlight one key impact identified by a company reporting in accordance with the GRI Guidelines and show how it has taken a structured, systematic approach to improving performance. With such positive action companies build trust, by dealing responsibly and conscientiously with their impact on the environment and on their stakeholders (e.g. clients, suppliers, shareholders, local communities, NGOs or local government). Stakeholders that can hold it back or stop it from reaching its objectives
By building trust your company creates loyalty and long-term commitment to its services and brands