The year in brief

Our strong financial performance in 2006/07 continued to underpin the sustainability of our business, and our merger with Portman was successfully completed.

• we were delighted that the resolution to raise community investment to at least 1% of pre-tax profits was passed by our members at the AGM in 2007
  
• we were benchmarked in the silver band of companies in Business in the Community’s leading index of responsible businesses
  
• we continued to purchase our electricity from renewable energy sources
  
• 100% of our waste paper is now recycled under secure conditions from 100% of our sites: a first for our industry
  
• we maintained our Investors in People Champion Organisation status for the third year running, evidence of our commitment to having a highly trained and engaged workforce
  
• the first phase of development of sustainability KPIs was completed and reviewed with stakeholders, with agreed KPIs to be implemented during 2008
  
• progress was made towards embedding sustainability in our supply chain by piloting a supplier assessment process
  
• an ethical investment product will be launched as part of a strategic distribution agreement with Legal & General
  
• after review, it was decided that at present there are insufficient commercial benefits to warrant changing our investment criteria and policies. Only a tiny proportion of our total assets are invested in some UK and overseas bonds, and we do not generally invest in equities. Where we do invest, it is our responsibility to maximise the value for the benefit of the Society and its members. Read more about Nationwide as an investor