26 June 2007 | Paul Snell
Barclays bank has examined £1.5 billion of its spend using a new corporate social responsibility questionnaire.
The firm's CSR Report 2006, published this week, revealed that a set of questions was given to 57 of the group's "medium to high-risk" suppliers. When Barclays considers appointing a new supplier, 10 per cent of the calculation will be based on answers to those questions, which cover supply chain risk, human rights, environmental issues and business integrity.
Barclays considers suppliers of direct mail, print, outsourcing, paper and corporate wear as potentially high-risk sources.
The report also said the group had signed a new three-year deal with EDF Energy to provide renewable energy to its offices and branches. The company now receives more than 50 per cent of its power from renewable sources, and claims this will cut carbon emissions by 80,000 tonnes in 2007.
The bank also said that ABSA, its South African-owned subsidiary, has spent around £220 million with black-owned suppliers in 2006, amounting to 55 per cent of its spend. The bank said this year it was attempting to identify small regional suppliers in the country, and that they would receive favourable payment terms.