Co-op commits more cash to good causes

THE Co-operative Group says it has continued to increase the amount of time and money it commits to good causes.

According to its annual sustainability report its UK community investment equated to £18.9m in 2011, up from £14.8m the previous year, or 31%.

The group said it – together with members and staff – supported more than 10,000 initiatives.

It also said its approach had led to annual savings of £50m from environmental efficiencies and a 40% reduction in greenhouse gas emissions since 2006.

Group chief executive Peter Marks said: “I firmly believe that our success in recent years has been built on the long-term sustainable relationships that we build with the communities in which we operate.

“Our ethical plan sets out a commitment to keep communities thriving, and our support has never been greater, with a contribution from the business, colleagues and members of almost £19m.
 
“This report sets out how we have performed in meeting the targets we set ourselves within our ethical plan. We have now set revised targets – challenging but realistic – for the next three years. Our commitment remains to be the most ethical food retailer and financial services provider on the UK high street.”