Issue - meetings
Ethical and Social Policy - Banking
Meeting: 15/10/2007 - Audit Board (this committee has been combined with the Audit, Standards & Governance Committee and no longer meets) (Item 26)
26 Ethical/Social Policy 
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Additional documents:
Minutes:
Following a request made at the full Council on 27th June 2007, a report which informed Members of the existing social/ethical policies which were in place with the main provider of the Council's banking services, and which also reported on the options for the development of an ethical policy for the Council corporately, was considered.
It was noted that HSBC Bank currently provided the banking arrangements for the Council. A summary of the Corporate Responsibility policy that had been adopted by HSBC was appended to the report, which represented HSBC policies on ethical issues such as: lending proposals and investments; the promotion of good environmental practice and sustainable development; and commitment to the welfare and development of each local community. It was noted that the HSBC had a robust corporate responsibility in place, which it used as the framework for any transactions undertaken on behalf of the Council.
The Head of Financial Services advised that only HSBC and the Co-operative Bank had robust Corporate Responsibility policies in place. She added that over the last 18 months there had been an improvement in the procurement policies and practices undertaken by the Council, which involved officers having to consider a number of factors when procuring assets, supplies or services. Members felt it important to ensure that checks were in place to ensure that officers were complying with the necessary requirements in this regard, which the Head of Financial Services confirmed would be incorporated into the system.
RESOLVED that the summary of the HSBC Corporate Responsibility policy be noted; and
RECOMMENDED that, it being noted that with only the HSBC Bank and Co-operative Bank having robust Corporate Responsibility policies in place, and following consideration of the internal policies in place at the Council and in acknowledging the development of future plans, that Members be satisfied that current organisational requirements were being met and that it be agreed that there was no need for further action at this time.