Covers the period
1 April 2017 to
31 March 2018
Aligns with the Global Reporting Initiative’s core framework1.
Focuses on issues most relevant to our clients, people and other stakeholders
The guiding principle throughout this report is that it is created and driven by our people, not imposed from the top down. Our CSR working group was formed from a cross-section of the company, with input from all departments, and the proud support of the Executive.
We use the Global Reporting Initiative (GRI) guidelines as a foundation for our reporting approach and this report is prepared in accordance with the Core option.
Our stakeholders include our clients, people, local communities, our parent company (Legg Mason) and suppliers.
The guiding principle throughout this
report is that it is
created and driven
by our employees,
not imposed from the
top down. Our CSR
committee was formed
from a cross-section
of the company,
with input from all
departments, with the
proud support of the
Preparing this report
Stage one: Identification
A CSR working group, comprising representatives from all departments, with varying levels of seniority and experience, identified global sustainability issues which impacted our stakeholders. A longlist was compiled, using our own knowledge of sustainability factors from extensive company engagement, competitor analysis of best-in-class CSR reports and other relevant areas we felt had not been addressed.
Stage two: Materiality
Consistently throughout this process, our focus has been on the relevance to clients and other stakeholders. As a result, the working group whittled down the list into areas which were material for either stakeholders or the company. To assist in this task, these were judged to impact on five key areas of our business:
- Investing, products and clients
- Our employees and culture
- Charitable activities
In most cases these align with the GRI materiality topics and we have created a materiality matrix to demonstrate the areas most relevant to our business and our stakeholders, which are explored further in this report. These are included in the table below and plotted onto a materiality matrix.
Stage three: Analysis
Sub groups were formed from the CSR Working Group to carry out further research into the five areas of impact. More detailed investigations were carried out, with input from others across the business, as well as suppliers and clients. These were then presented back to the working group, where key findings were discussed and challenged before final inclusion in the report.
The illustrations featured in this report were developed with the help of Heather
Wilson and Steven Patterson, two students from Galashiels Academy.
Reading this report
- The materiality matrix will be refreshed every year in advance of preparing the CSR report.
- The chart is not intended to be a precise representation and is instead an indication of the key factors.
- In terms of the data-gathering process and scope of the report, we have balanced the materiality of the information on the one hand and the ability to collect the data on the other. In cases where we have covered less than 100% of the business scope (for example, referencing activity limited to our Edinburgh premises) we have explained where data is incomplete in the same section.
- Unless otherwise stated, all data in this report refers to the financial year 1 April 2017 to 31 March 2018.
- Supporting the GRI’s Reporting Principles, we have strived for information that is accurate, clear and balanced for stakeholders to assess our performance.
1 GRI is an independent international organization that has pioneered sustainability reporting since 1997.