By Alan McGill, PwC Partner and Sponsor of The Building Public Trust Awards
PwC created the Building Public Trust Awards (BPTA) in 2002 to reward outstanding corporate reporting and highlight the achievements of those organisations showing the way towards ‘telling it how it is’. This year, we’re delighted to mark the 15th anniversary of the awards by expanding their focus to celebrate organisations’ societal contribution and impact. To do this, we’ll look at what an organisation does and for whom, as well as what an organisation says. And we’ll be assessing how close the alignment is between these two areas.
This change builds on the consistent ethos that has guided these awards down the years: that open, honest and transparent reporting is imperative for organisations to earn trust. Launched in the wake of scandals such as Enron and WorldCom, the awards have – if anything – become even more relevant over the years since then, as challenges around trust have steadily risen up the business, public and political agenda. Our aim through this broader focus is to showcase the societal contribution and resulting positive impacts of organisations who are leading the way in building public trust.
As well as applauding the efforts of these organisations, we also urge others to emulate them in striving for ever closer alignment between their core purpose and impact on society. Key to this is the ability to combine the delivery of positive societal impacts with effective monitoring and reporting of those impacts, in order to demonstrate the shared value created.
Please explore this site to see who won the 2016 awards. You’ll also be able to read comments from the independent judging panel, and gain some insights into the latest trends and best practices in corporate reporting and communication. Our hope is that all of this will help support and sustain your own organisation’s journey to higher public trust.
Each of the Building Public Trust Awards is judged using a set of criteria designed to reflect both the expanded focus this year - organisations’ societal contribution and impact - and excellence in reporting.
In addition to the common principles of good quality reporting, we have developed criteria to assess the societal contribution and impact organisations are having through their core business activities. This is supplemented with additional analysis of what people outside are saying about them. These criteria include: an organisation’s understanding of how it contributes to society; whether it has a clear strategy for optimising its contribution and impact; identified stakeholders affected by its activities; metrics that assess its stakeholder impacts; and how it communicates its societal impact.
Subject matter experts from PwC use these attributes to screen all the organisations reviewed. This screening process generates the shortlist of organisations whose overall contribution and impact is then considered by the independent judging panel.
The members of the 2017 judging panel will be announced here shortly.