Building Public Trust Awards

Delivering sustained outcomes through insightful reporting

About us

Our mission for these awards is simple - it's to celebrate organisations that are building trust with the public. The Building Public Trust Awards cover all parts of the economy and the issues that matter to society, recognise those that are leading the way in delivering sustainable outcomes through insightful reporting.

Shortlisted companies and award winners stand out from their peers and demonstrate best practice across a number of areas. They are leading the way by putting a clear purpose and strategic vision at the heart of their reporting, recognising their wider impact and the value they create for all of their key stakeholders. They produce a company-specific narrative that reflects relevant local and global issues in a way that is innovative, uses trusted tools and technologies where relevant, and looks to drive better, more open communications, rather than simply complying with regulation.

Each award uses bespoke criteria to assess an organisation's commitment to build trust with the public through open, fair and insightful reporting and communications. Subject matter experts from PwC, with reference to market research on public priorities and opinions, assess all organisations reviewed and generate a shortlist.

Award winners are selected from the shortlist by the specially convened independent judging panel, comprising leaders with interest, knowledge and experience in fostering organisational trust, transparency and societal contribution.

Award winners 2023

Reporting in Charities

Winner Highly commended
Save the Children UK National Trust
Oxfam

Trust and confidence in the UK’s charities sector have rebounded strongly in the past few years, helped by their substantial contribution to society through and beyond the pandemic. However, to maintain the regained trust and keep donations coming in, it’s imperative that they report clearly and engagingly on their purpose and impact, explaining credibly where their money comes from and how people benefit from it. In this context, the judges praised the way all three reports focus strongly on beneficiaries, with clear linkage between their strategic goals and outcomes supported by easily understood financial metrics and powerful case studies. However, they felt Save the Children had the edge, with an annual report that one judge simply summed up as “excellent” – citing aspects such as the strong narrative flow starting from the first page, the showcasing of key statistics throughout, and the striking use of graphics in the “people and culture” section.

Save the children award winners

“Save the Children UK has produced a really good report – telling a very clear story about its impacts while giving us all food for thought about what needs to change in society.”

Judge's comment

Cyber Security Reporting in the FTSE 350

Winner Highly commended
Vodafone Group
Barclays
NCC Group

Against a background of rising cyber threats – including a surge in ransomware attacks – investors and other stakeholders are increasingly focusing on how companies assess, manage and mitigate cyber security risks, as a key aspect of organisational resilience. While the judges felt that all three nominees had produced clear and informative reporting, they noted they’d taken very different approaches – with Barclays embedding cyber aspects into its disclosures on different parts of the business, and NCC stressing how global trends feed into its security strategy. But the panellists felt Vodafone had the edge, awarding it first place for the third year running with cyber security reporting that they summed up as comprehensive and detailed yet highly readable and accessible. The panellists particularly liked Vodafone’s coverage of past incident responses, the click-through video material featuring senior executives, and the easily-understood cyber factsheet geared to non-technical readers.

Cyber security BPTA 2023

“I’m no expert on cyber. But Vodafone’s reporting has convinced me why I should care about it – and [why I should also] look at all the other FTSE350 reports to see how they address it.”

Judge's comment

Reporting in the FTSE350

Winner Highly commended
Dr Martens Coca-Cola HBC AG
Severn Trent

Today, there’s growing demand from investors, regulators and wider society for companies to tell a clearer and more coherent story about how they’re balancing the needs of different stakeholders, as they tackle issues like supply chain disruptions, societal inequality and climate change. But increasing regulation and the rising focus on ESG have boosted the volume and complexity of disclosures, sometimes making it harder to maintain a consistent narrative thread. The judges noted that the nominees for the overall FTSE 350 award had all risen to this challenge, using their strategy to underpin and link a compelling story about their activities and wider impacts. However, they felt Dr Martens was set apart both by the visual attractiveness of its reporting, and also by its openness and honesty – most notably about its supply chain problems in the US last year.

FTSE 350 reporting award winners

“For a company that only joined the stock market two years ago, Doc Martens’ annual report is a really good start – and their honesty about an instance of something going wrong is a great way to build public trust.”

Judge's comment

Reporting amongst companies headquartered internationally

Winner Highly commended
EDF Energy Holding Ltd Leonardo UK Ltd
RSA Insurance group Ltd

Companies headquartered internationally that operate and invest in the UK are a major source of employment and economic activity. Recent disruptions ranging from the pandemic to the cost-of-living crisis have made it even more important that these businesses report openly and transparently on their economic, social, environmental and tax impacts within the UK. The judges were impressed by the quality and accessibility of the reporting from all three nominees, especially on their environmental strategies and impacts. They also praised aspects such as RSA’s clear account of its cost-of-living responses and Leonardo’s detailed metrics on its employment contribution and supply chain. However, the panellists felt that EDF gained an edge through elements such as its strong use of graphics to convey detailed information, and thorough disclosures on employee diversity, inclusion and wellbeing.

Headquartered reporting winners

“EDF is clearly striving to build public trust in a difficult environment – and has put some serious effort and thought into how to do this.”

Judge's comment

Reporting in Private Business

Winner Highly commended
Heathrow Airport Holdings Limited Infinis Energy Group Holdings
Wates Group Limited

The UK’s thriving community of privately-owned businesses represents the country’s main engine for economic activity and employment. At its best, their reporting bears comparison with that of listed PLCs – and the judges certainly felt this was the case with this year’s nominees. However, with two of the three – Infinis, and last year’s winner Wates – appearing on the shortlist for the second year running, they noted an opportunity for others to raise their game and join the leaders. The panellists commented positively on aspects like Wates’s strong strategic narrative and thorough reporting on tax, and on Infinis’s detailed analysis of different energy sources. But first-time nominee Heathrow won the nod for its superbly presented annual report, which opens with a succinct description of its strategy, values and priorities – including sustainability – and then links these pictorially throughout using icons.

Reporting in Private Business award winners

“Heathrow’s annual report is brilliantly creative and superbly laid-out, bringing its business to life in a way that really grabs your attention.”

Judge's comment

Reporting in the Public Sector (in association with the National Audit Office)

Winner Highly commended
Great Ormond Street Hospital (GOSH) Pension Protection Fund (PPF)
The Crown Estate

To ensure accountability that taxpayers’ money is being spent effectively, it’s vital that reporting by public bodies is open, transparent and accessible. While the judges felt the nominees for this year’s award had all delivered reporting of a consistently high standard, they expressed some disappointment that the generally improving trend seen in previous years across the wider public sector appears to have plateaued, with some reports becoming longer, more compliance-focused, and often delivered late. Given this, the panel felt it was especially important that other public bodies learn from the example set by the three very different public bodies on the shortlisted. While the reports each had their own distinctive strengths, the judges’ view was that GOSH was the strongest overall, thanks to aspects ranging from its engaging use of an “astronaut” icon to aid navigation, to its highly accessible explanation of accounting and risk concepts in easily-understood language.

Reporting in the Public Sector award winners

“GOSH’s annual report is comprehensive, packed with information and really engaging. And it’s very honest and open about areas where they’re not yet hitting their targets.”

Judge's comment

Remuneration Reporting in the FTSE 350

Winner Highly commended
Severn Trent
Schroders plc
Vodafone

Remuneration has always been a heavily-scrutinised area of corporate reporting. But in the past year it has risen even further up the trust agenda, driven by factors including the cost-of-living crisis and the Financial Reporting Council’s call for clearer alignment with companies’ purpose and values. Against this background, the judges were looking to companies to justify their senior-level remuneration in the context of their approach to stakeholders including employees, shareholders, customers and suppliers. The panel noted that all three nominees had produced excellent remuneration reporting, citing aspects such as Vodafone’s click-through video of its RemCo chair and Schroders’ innovative use of diagrams to evidence key decisions. However, Severn Trent – highly commended last year – returned to clinch first place with a comprehensive yet accessible remuneration report that establishes clear linkage between the company’s executive remuneration and its business strategy, sustainability framework and wider approach to employee pay.

Remunerations BPTA 2023

“Rather than being treated as a standalone issue, remuneration runs throughout Severn Trent’s annual report – and is clearly interlinked with its business model, employees and culture.”

Judge's comment

Impact in Social Enterprise (in association with the School for Social Entrepreneurs)

Winner Highly commended
Mediorite Fair for You
Luminary Bakery

Social enterprises – businesses that trade for a social or environmental purpose – are a dynamic and fast-growing part of the UK business landscape, contributing £60 billion a year to the economy and employing two million people. PwC’s support for the sector includes a longstanding collaboration with the School for Social Entrepreneurs, co-sponsor of the award. The judges were genuinely moved by the life-changing impacts that all three of the shortlisted enterprises create, with one commenting that they each “have a tremendous story to tell” and another adding that their annual reports are “quite captivating”. While the panel was impressed by the overall quality of the nominees’ reporting, Mediorite won the vote for its engaging, attractively presented and easily navigable disclosures, set apart by its strong communication of impact supported by quantitative metrics.

Impact in social enterprise award winner

“Mediorite provides a clear, convincing description of its business…The UK is a global leader in the media sector, and helping young people get into it is wonderful.”

Judge's comment

Social Reporting in the FTSE 350

Winner Highly commended
Lloyds Banking Group National Grid
NatWest

Now in its second year, this award recognises the best reporting on the ‘S’ of ESG – companies’ impacts and interactions with their workforce, supply chains and communities. It’s an emerging and evolving area where a handful of companies have pulled away from the rest, and the judges felt that all three nominees reflected an ongoing overall improvement in the quality and navigability of social reporting. Panel members commented positively on National Grid’s focus on upskilling to support a ‘Fair Transition’, and NatWest’s action on social issues in its supply chain through its ‘supplier charter’. But Lloyds won the nod with a dedicated standalone social sustainability report telling a clear, succinct and compelling story about its social strategy and impacts, supported by strong case studies and exploring rarely-addressed issues like the impact of gender and ethnicity on people’s pension provision.

Social reporting award winners

“Lloyds’ reporting shows clearly that addressing social issues really is part of the company’s core business and DNA, woven throughout so much of what it does.”

Judge's comment

Sustainability Reporting in the FTSE350 and Public Interest Entities

Joint winners Highly commended
CRH
DS Smith
Standard Chartered Bank

The BPT award for sustainability reporting is new this year, created by combining our existing awards for climate change reporting and ESG reporting into a single category. Its launch coincides with a tsunami of regulation coming down the track, beginning with the EU’s Corporate Sustainability Reporting Directive (CSRD) from next year, and with new rules from US and UK regulators not far behind. Against this background, the judges were looking for open, honest disclosures that clearly link companies’ financial performance with their environmental impacts and contribution to society, while anticipating and preparing for the regulatory changes to come. With all the nominees having produced excellent reporting, the panel found it impossible to split the top two, and awarded joint first place to CRH and DS Smith. They particularly praised CRH’s clear linkage of sustainability with strategy and purpose, and DS Smith’s compelling analysis of nature risk.

Sustainability BPTA 2023

“All of the shortlisted companies have gone far beyond a box-ticking approach, providing various layers of detail to address different stakeholders.”

Judge's comment

Tax reporting in the FTSE 350 - Multinationals

Winner Highly commended
Barclays
bp
Unilever

In this year’s BPT research study of UK consumers, 61% said tax is an important factor in trusting an organisation, with over a quarter (28%) rating it as very important. This is just one sign of the increasing focus on companies’ tax transparency, with the latest developments in this area including the EU’s requirement for country-by-country reporting. Also looming is the OECD’s ‘Pillar Two’ minimum corporation tax rate. And there’s increasing scrutiny of tax in the ESG context, a trend that we reflected this year by expanding our assessment criteria for the tax awards. The judges felt the nominees for both awards did a very good job of navigating this fast-changing environment, while telling a clear and coherent story about their tax strategy, governance, contribution and impact – supported in each case by easily-understandable charts and graphics. Barclays won the multinational award.

Tax reporting multinationals BPTA 2023

“Barclays’ explanation of its total tax contribution is very clear. It takes a highly complex issue, and explains and visualises it in a way that’s easily accessible to non-experts.”

Judge's comment

Tax reporting in the FTSE 350 - UK-focused companies

Winner Highly commended
SSE Lloyds Banking Group
United Utilities

In this year’s BPT research study of UK consumers, 61% said tax is an important factor in trusting an organisation, with over a quarter (28%) rating it as very important. This is just one sign of the increasing focus on companies’ tax transparency, with the latest developments in this area including the EU’s requirement for country-by-country reporting. Also looming is the OECD’s ‘Pillar Two’ minimum corporation tax rate. And there’s increasing scrutiny of tax in the ESG context, a trend that we reflected this year by expanding our assessment criteria for the tax awards. The judges felt the nominees for both awards did a very good job of navigating this fast-changing environment, while telling a clear and coherent story about their tax strategy, governance, contribution and impact – supported in each case by easily-understandable charts and graphics.

Clinching the UK-focused award for the second successive year, SSE was also set apart by its clear disclosures on total tax contribution, as well as an outstanding tax Q&A section.

Tax reporting UK BPTA 2023

“SSE’s Q&A with its head of tax raises some uncomfortable topics – like tax transparency, the public perception of how much tax corporates pay, and windfall taxes.”

Judge's comment

Award categories and criteria 2023

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Building Public Trust Dinner 2023

The 21st Building Public Trust dinner celebration recognised the best corporate reporting and communication by organisations who have gone the extra mile in their efforts to build public trust.

Find out how organisations are differentiating themselves in leading the way through insightful reporting, and tips on building public trust in the Charities and Public Sectors.

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The judging panel

The Building Public Trust Awards are judged by an expert panel, chaired by Mark Wood CBE. Read more about the judges below.

Chair, BPTA Judging Panel

Senior Portfolio Manager of Global Equities, RBC Global Asset Management

Deputy Director Government Financial Reporting, HM Treasury

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Partner, Generation Investment Management

Crown Representative for the Charity and Social Enterprise Sector

Equities Analyst, Jupiter Asset Management

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Managing Director of Reputation & Influence, ICAEW

Global Equity Analyst, Newton Investment

Executive Director, National Audit Office

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CEO, Business in the Community

NED, Advisor, Coach

NED of Resolution Life and Breugel and Senior Adviser at Chatham House

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Head of Stewardship, Evenlode

Chief Executive, Social Mobility Foundation

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Contact us

Alan McGill

Alan McGill

Partner, PwC United Kingdom

Tel: +44 (0)7711 915663

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