Mitie’s sustainability credentials have again been recognised, with the company maintaining its position in the FTSE4Good Index Series, following the June 2020 index review.
Mitie joins just 103 other UK businesses that are constituents of the global FSTE4Good Developed Index, confirming its place as one of the country’s leading sustainable companies.
The ‘Developed’ Index is one of seven indices managed by FTSE Russell, the London Stock Exchange’s index provider, and is focused on businesses operating in developed markets. It represents those companies that demonstrate strong environment, social and governance (ESG) practices to provide a benchmark, in order to identify the most responsible and sustainable businesses to investors. As well as being used to guide sustainable investment funds, the Index can be used to research environmentally and socially sustainable companies, as well as acting as a standard for companies to track their progress against.
The Index is reviewed every six months to ensure all businesses continue to meet its stringent requirements. Every organisation is measured against a series of criteria, which are developed by a broad range of stakeholders, including NGOs, government bodies, consultants, academics, the investment community and the corporate sector. The criteria are revised regularly to ensure they’re consistent with the latest ESG developments and standards.
Maintaining its recognition as a FTSE4Good Index member demonstrates Mitie’s commitment to supporting social value across its entire business. Mitie does this via its Social Value Framework, which focuses on five core pillars:
- Employment: Supporting apprenticeships, diversity and inclusion and the Real Living Wage
- Responsibility: Increasing the voluntary, community and social enterprise (VCSE) and SME supplier base
- Community: Improving employee health and wellbeing, supporting the Armed Forces Covenant and enabling volunteering
- Environment: Reducing CO2 emissions and transitioning to a zero-carbon fleet
- Innovation: To enable industry-leading achievements within the other pillars
The first four pillars each have several specific five-year targets, with their progress tracked and reported each year, all underpinned by innovation.
Mitie is already making significant progress in each of these areas. In February 2020 it launched the sector-leading Plan Zero initiative, committing to reach net zero carbon emissions by 2025, while also supporting its clients in achieving their own sustainability goals. As part of this commitment, Mitie will switch its entire fleet to electric vehicles (EVs) by 2025 and has already rolled out 550 EVs in just over a year.
Mitie has been a Recognised Service Provider by the Living Wage Foundation since 2019 and the Mitie Foundation provides opportunities for disadvantaged groups to remove barriers and open ways in to sustainable employment. The business is ranked 6th on the Inclusive Top 50 UK Employers list, as well as being named as a 2020 ‘Top Employer’ by the Top Employers’ Institute.