Responding to stakeholder feedback

A panel of external stakeholders, mostly comprising specialists in the field of corporate responsibility, was convened in February 2007 to review Nationwide’s sustainability approach (based on 2006 Better Society report). Their summary stated:

“There was acknowledgement among the group that Nationwide’s reporting has moved on a great deal in the past few years. Overall the report was described as enjoyable to read, covering most bases and in the top band in terms of readability, relevance and coverage. Participants voiced their appreciation that the company was seeking regular feedback from stakeholders through this kind of roundtable discussion”.

Detailed suggestions included:

• link sustainability strategy more closely with core products and business. Our sustainability strategy remains focused on integration of material social and environmental issues throughout our organisation. For example, we have now strengthened our risk management process to include such issues. We are also carrying out specific market research during 2007 to seek customers’ views on sustainability issues related to our business and to enable us to more effectively direct our efforts
• feature consumer debt, financial literacy/ education and housing, both as social issues and in terms of the role Nationwide is playing, for example, in helping householders reduce environmental impacts. These topics form part of our sustainability strategy and are covered in the current report. Please see for example: Community support; Championing consumers; Product developments; Affordable housing; Raising environmental awareness.
• demonstrate commitment from the highest level of the organisation. Please view our Chief Executive’s message and Governance and accountability
• make the report accessible in one click from the home page. Our Community & Environmental Affairs site and the report can now be accessed more easily on our website via the ‘About Nationwide’ link