Mitie’s sustainability qualifications have been recognised once again with its retention of a position on the FTSE4Good Index Series, following June’s index review.
Mitie joins 103 other UK businesses that belong to the global FSTE4Good Developed Index.
The ‘Developed’ Index is one of seven indices managed by FTSE Russell, the London Stock Exchange’s index provider, and it focuses on businesses operating in developed markets. It represents those companies that demonstrate a strong environment, social and governance (ESG) practices to provide a benchmark to identify the most responsible and sustainable businesses to investors.
As well as being used to guide sustainable investment funds, the index can be used to research environmentally and socially sustainable companies, as well as acting as a standard for companies to track their progress against.
The index is reviewed every six months to ensure that all businesses continue to meet their stringent requirements. Every organisation is measured against a series of criteria, which are developed by a broad range of stakeholders, including NGOs, government bodies, consultants, academics, the investment community and the corporate sector. The criteria are revised regularly to ensure they’re consistent with the latest ESG developments and standards.
Maintaining its recognition as an index member demonstrates Mitie’s commitment to supporting social value across its entire business, via its Social Value Framework, which focuses on five core pillars:
- Employment: Supporting apprenticeships, diversity and inclusion and the Real Living Wage
- Responsibility: Increasing the voluntary, community and social enterprise (VCSE) and SME supplier base
- Community: Improving employee health and wellbeing, supporting the Armed Forces Covenant and enabling volunteering
- Environment: Reducing CO2 emissions and transitioning to a zero-carbon fleet
- Innovation: To enable industry-leading achievements within the other pillars
- The first four pillars each have several specific five-year targets, with their progress tracked and reported each year, all underpinned by innovation.
Mitie is already making significant progress in each of these areas. In February it launched the sector-leading Plan Zero initiative, committing to reach net-zero carbon emissions by 2025, while also supporting its clients in achieving their own sustainability goals. As part of this commitment, Mitie will switch its entire fleet to electric vehicles (EVs) by 2025 and has already rolled out 550 EVs.
Simon King, Mitie’s director of sustainability and social value, said: “Over the past 12 months, Mitie has made real strides and set ambitious targets to ensure that our business has a positive impact on the environment and communities where we work. This includes our sector-leading Plan Zero commitment to achieve net-zero carbon emissions by 2025.”
Image credit | Mitie