18/11/2008
Stagecoach has been rated the most ethical of the UK’s big five public transport groups, according to a major authoritative survey.
The survey, carried out by the Observer newspaper in conjunction with Co-operative Asset Management, ranked Stagecoach Group in the top 10% of UK plcs.
Stagecoach Group was placed 34th in the second annual Good Companies Guide, which assesses the performance of all the shares in the FTSE 350 index against a range of social, environmental and ethical criteria.
The company was awarded a rating of 73.56 out of 100, based on how it reports and manages its social and environmental risks, the quality of its corporate governance and how the Group addresses its own sector issues.
Steven Stewart, Director of Corporate Communications, said: “Building a sustainable business, based on strong governance and positive relationships with our stakeholders, is central to the way we work – from our customers, investors, suppliers and employees to the wider community and the global environment.
“We firmly believe responsible business is good business, and our ethical approach can give us a commercial advantage. While we are pleased we have been recognised for our achievements to date, we will continue to strive to improve our performance and make our business even more sustainable.”
Stagecoach’s commitment to a culture of responsible business is detailed in its Code of Business Conduct. It outlines the company’s values around fairness, diversity and equality, as well as its approach to safety and the environment, and the way it treats its people, customers, local communities and other key stakeholders.
The Group is continuing a major drive to make its own business more sustainable and attract more people to travel by bus, coach, train and tram. Stagecoach’s wide-ranging strategy includes investment in renewable fuels and cleaner engines, state-of-the-art energy efficient facilities, water and waste recycling initiatives and offering businesses green travel incentives for their employees.
As part of the company’s drive to reduce its carbon footprint, the Group is currently updating its climate change strategy. A new carbon management programme will put in place new processes, key performance indicators, targets and initiatives to drive improvement across the business.
Earlier this year, a Stagecoach study of more than 4,000 consumers in the UK found that 62% were more likely to travel with a company whose ethics supported the environment.
- Full information on Stagecoach Group’s commitment to corporate responsibility is available online at http://www.stagecoachgroup.com/scg/csr/
ENDS
For further information, please contact:
Steven Stewart, Director of Corporate Communications
Tel: 01738 442111 or mobile 07764 774680
email: steven.stewart@stagecoachgroup.com
NOTES TO EDITORS
Good Companies Guide
Ratings in the Good Companies Guide are based on companies’ own reporting, supplemented by Co-operative Asset Management’s research and engagement with companies, and additional research by ethical investment advisers Eiris and Innovest. Results are reviewed by the Co-operative’s responsible investment team and by its financial analysts and fund managers. Rankings do not assess financial or investment risk and the assessments are based on qualitative judgements.
Stagecoach Group
Stagecoach Group is a leading international public transport group, with extensive operations in the UK, United States and Canada. The company employs 30,000 people, and operates bus, coach, rail, and tram services.
Current Stagecoach environmental initiatives include:
Renewable energy
Stagecoach has signed a contract to source most of its electricity requirement for its UK bus operations from renewables. Electricity generated from mostly small-scale hydro, as well as on-shore wind and biomass, will provide more than 70% of the company’s required supply, with the remainder coming from cleaner, low-carbon sources. Smart meters are also being installed to help cut energy use as part of the £3.5million contract with Opus Energy. The two-year contract, which will dramatically decrease CO2 emissions, covers electricity supply to around 240 UK sites.
Energy efficiency
Emissions from around 90 of Stagecoach’s workplaces across the UK have been cut by more than a third after the introduction of a hi-tech energy management system. Gas consumption has been slashed by an average of 36%, while CO2 emissions have been cut by more than 6,200 tonnes a year. Developed by Vickers Electronics Ltd, the technology uses self-learning predictive programming, coupled with high accuracy temperature sensing. It takes over the control of the existing heating and delivers improved control, staff comfort and dramatic reductions in energy consumption, saving hundreds of thousands of pounds a year.
Sustainable biofuel
Stagecoach is testing the UK’s first Bio-buses, which run on 100% biodiesel. The bio-fuel is manufactured by Argent Energy Ltd from used cooking oil and other food industry by-products, which are from sustainable sources that do not involve the destruction of natural habitats or compete with the human food chain. The environmental project also allows customers to exchange used cooking oil for discounted bus travel Since the initiative was launched in October 2007, it has cut C02 emissions from the buses by 80%, saving 550 tonnes of carbon, and more than 21 tonnes of used cooking oil has been recycled.
Fuel additive
Stagecoach uses a next-generation fuel additive, Envirox™, to reduce carbon emissions and improve fuel efficiency. The additive, manufactured by Oxonica, is based on a well-known oxidation catalyst widely used in catalytic converters. The material has been re-engineered using nanotechnology to allow it to be delivered as a fuel-borne catalyst, leading to a cleaner burn within the combustion chamber. The additive has delivered more than a 5% cut in fuel consumption and an associated decrease in vehicle emissions. Stagecoach also currently uses a blend of 5% biodiesel across its 7,000-vehicle UK bus fleet.
Fuel-efficient driving
Stagecoach invests millions of pounds each year in the training of its driving team and, over the past two years, hundreds of employees have completed a Safe, Skilled and Fuel Efficient Driving programme. From September 2008, Stagecoach will launch a programme to ensure all of the company’s 13,500 drivers complete the course as part of a Certificate of Professional Competence. Stagecoach has also launched a six-month trial of a hi-tech in-cab driver system to improve safety, reduce fuel costs and cut carbon emissions. The initiative - launched in partnership with GreenRoad Technologies, a leading driver safety company – is being trialled on Barrow-in-Furness in Cumbria. The system improves driver behaviour behind the wheel through an in-vehicle sensor monitoring up to 120 driving manoeuvres, such as speed, braking, acceleration lane handling and turning. Data is sent in a continuous stream to GreenRoad’s web server and analysed, providing information about a driver’s performance. Instant feedback is given to the driver using red, amber and green lights on the dashboard and optional SMS or email messaging.
Carbon neutral travel
Stagecoach has launched Scotland’s first carbon neutral bus network. The ground-breaking environmental initiative, in partnership Scottish charity Global Trees, will see all of Stagecoach's Fife to Edinburgh bus network become carbon neutral through to 2013. Around 140,000 trees will be planted in the south of Scotland this year, saving 21,500 tonnes in CO2 emissions.
