Vodafone tops global Accountability Rating

Vodafone Group was ranked number one in this year's global Accountability Rating, which measures how companies have built responsible business practices.

The ranking places Vodafone Group highest within the global Fortune 50, showing a leading position among the world's largest companies. Vodafone clearly outperforms all its peers in the computer, electronics and telecommunications sector.

The rating evaluates companies across six key areas: strategy, governance, performance management, stakeholder engagement, assurance and public disclosure. Together, these areas are the foundations of corporate accountability. The rating is the result of a global project led by AccountAbility and csrnetwork.

Apart from the overall top rating, Vodafone also rated highest in the areas of stakeholder engagement and public disclosure. Stakeholder engagement measured the efforts made to ensure two-way dialogue and best practice in identifying relevant groups of stakeholders.

Public disclosure assessed the work involved in communicating Vodafone's approach to reporting, and the level of transparency in implementing top-level policies.

The high rating shows the clarity of Vodafone's in-depth reporting which includes the production of local corporate responsibility (CR) reports in 10 countries, including Malta. These reports respond to local issues and stakeholders' concerns.

In 2006 Vodafone also announced a £5 million social investment fund over the next three years to develop mobile products and services that benefit society.

Only recently, Vodafone Malta was the first company in the country to publish its CR report. This includes information about the company's management of corporate responsibility and deals with topics of public interest, such as health, mobile phones and base stations, energy consumption, handset recycling and responsible marketing.

It also gives information about the company's behaviour towards its employees and speaks of the work of the Vodafone Malta Foundation, which has made social investments of over Lm200,000, since it was set up three years ago.

As CEO Hatem Dowidar said: "Our responsible attitude towards the community we operate in and towards the environment will encourage our valued customers to maintain their confidence in us and will help us gain recognition for sound and transparent behaviour."

Vodafone Malta's CR performance is monitored quarterly by Vodafone Group which reviews levels of commitment, integration, management of issues and implementation of CR strategy.