Listen sustainability at Barclays

Every so often you come accross a little touch in a CSR report that makes you think: "Mmmmmm, that's neat!" . So it happened with the Barclay's plc Responsible Banking Review for 2009. On the back cover of this 36 page review, Barclays note:

To request a large-print format or audio version, please email sustainability@barclays.com .

Mmmmmmmmmm, that's neat!  Their whole report in audio format ? That, for me is really going the extra mile in the interests of meeting all stakeholder needs. I haven't seen this before.

In this report,  Barclay's 10th, Group Chief Executive John Varley projects a no-nonsense view of the banking industry, its issues, its failures and its responsibilities. I like his straighforward style. He talks about the heated debate by the public about the role of banks which is "understandable" but "often clouded with hyperbole and misrepresentations" . In setting this straight, John Varley reminds us of the five core activities through which banks must contribute to society:

• providing reliable and efficient payment systems
• delivering safe storage (for deposits and savings)
• maturity transformation (converting savings into loans)
• asset management
• investment banking.

Barclays' responsible banking themes are : responsible finance, financing the future (addressing global challenges such as climate change) and citizenship (investing in communities) .  However, whilst Barclays did not take the government bailout at the end of 2008,  there was some backlash at their alternatives for raising cash to bolster their financial position.  A discussion of this topic didn't make it on the materially assessment radar reported in the Responsible Banking Review, so don't expect to read this in large-print format or listen to it in audio.

One other interesting thing about this report is The online feedback page / reader survey. The survey asks for feedback on the report in a number of areas. However, on this online form, there is no request for, or opportunity to include, your contact details. I understand that some might prefer to provide feedback anonymously, and that Barclays may not want to follow up with everyone who provides a response,  but shouldn't it be in Barclay's interests to know who  is giving them feedback and have the opportunity to follow up with those who provide it? Feedback should not be a one-way street, it should be the basis for dialogue. Simply asking for feedback without the opportunity to engage those providing it would seem to me like eating the chunky without the monkey.


 elaine cohen is the CEO of Beyond Business, a leading social and environmental consulting and reporting firm. Visit our website at www.b-yond.biz/en  

What's your financial personality? Ask Barclays Bank

Barclays Bank CSR report 2008. I was looking at this report in prepareation of my review for CorporateRegister.com and came accross this : determining clients' financial personality. Based on the fact that wealth means different things to different people, they say, Barclay's profile high-wealth clients and use this profile in determining the most appropriate investment package. Some would say this is the ultimate in best practice for ensuring a personalised and relevant customer experience. I thought it could lead to some very interesting transactions. Here are some possible applications of this approach, using the Myers Briggs personality typology with the help of the Personality Page:

ESTJ: Practical, traditional, and organized. Likely to be athletic:
Recommendation: invest in Home Depot, Timberland, Patagonia and Nike

ENFP: Enthusiastic, idealistic, and creative. Able to do almost anything that interests them. Great people skills.
Recommendation: invest in Barack Obama

ISTJ: Serious and quiet, interested in security and peaceful living
Recommendation: invest in UNICEF, LOHAS and the International Center for Reiki training

INTJ: Independent, original, analytical, and determined. Have an exceptional ability to turn theories into solid plans of action.
Recommendation: Invest in Madonna, Virgin Airlines, Microsoft and Google

ESFJ: Warm-hearted, popular, and conscientious.Interested in serving others.
Recommendation: invest in the Queen of England

ESFP: People-oriented and fun-loving, they make things more fun for others by their enjoyment
Recommendation: invest in Southwest Airlines and yes, you guessed it, ICE CREAM, invest in Ben and Jerrys

For a more serious look at financial personality types see this article

I tried to analyse my own financial personality and it came out somewhere between manic depressive and ADHD, so i guess i will stick to analysing CR reports and let Barclays do their stuff.

Barclays is a serious CR practitioner, supporting all key global initiatives such as UNGC, the Equator Principles, the Carbon Disclosure Project, and the UN Principles for Responsible Investment . Serving 48 MILLION customers, they have a far-reaching impact on local economics around the world. They are a highly transparent reporter, though if you want to read my take on their report, you will have to check back to CorporateRegister.com in the next couple of weeks.

For now, i think i will adopt an ESFP personality .... who locked the fridge ?

elaine cohen is the joint CEO of BeyondBusiness, a leading reporting and social-environmental consulting firm based in Israel. Visit our website at: www.b-yond.biz/en