Our community investment is amongst the most generous in UK business. In 2010, Fairtrade sales increased 37%, contributing to the support provided to over one million people in the developing world. Sales of higher animal welfare and healthy products also continued to grow, as we continue to ensure that ethical offerings are affordable for the many and not the few.
In 2010, we launched a Social Banking Unit to boost our offering to organisations that deliver environmental or social benefit, such as the green energy sector and charities. As part of our work to promote social inclusion, products such as basic bank accounts (up 29% in 2010) give more people access to financial services. We’ve also launched a £30m inspiring young people strategy, helping 330,000 young people across the UK to change their world.
Looking ahead
Our Ethical Operating Plan includes commitments to:
- Ensure that 10% of the profits available for distribution is made available for community investment by 2013, with £5m deployed per annum to tackle UK poverty around stores and branches
- Aim that if a primary commodity from the developing world can be Fairtrade, it will be Fairtrade by 2013
- Extend commercial lending for energy efficiency and renewables from £400m to £1bn, and kick-start a revolution in community-owned renewable energy generation.
Case study: The Co-operative Streetgames Young Volunteers
The Co-operative Streetgames Young Volunteers aims to improve the life chances of young people through sport. Operating in disadvantaged communities across England and Wales, it helps volunteers improve their leadership skills, and has enabled more than 30,000 young people to participate in sports activities. Before joining the programme, Jamie (pictured) was planning to leave school after her GCSEs. Now Jamie has gained coaching qualifications, runs her own dance troop, and is studying for A-levels. She says: “It’s definitely helped me develop skills I never thought I’d have.”
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