The report, with an independent assurance statement from Deloitte & Touche LLP, focuses on defining the responsibilities that are unique to the financial services sector. It pays particular attention to customers and employees, who are regarded as key stakeholders for the company.
It outlines how RBS assesses a customerís ability to repay, tries to prevent mis-selling, and helps customers in difficulty. Another key element is an outline of progress on implementing the Equator Principles, a framework for socially and environmentally responsible project finance to which RBS is a signatory.
The group reveals that it spent 5.5billion ($9.86bn) on employee remuneration in 2004, including national insurance and 1bn of pension contributions to their non-contributory final salary pension scheme.
In 2004, RBS published an Ethical Code for Suppliers based on the principles of the UN Global Compact. Its 46million community investment programme is one of the largest in Europe.
The online version of the report is available at www.rbs.com/crreports
Hard copies of the report can be obtained by emailing corporate.responsibility@rbs.co.uk or ordered by telephone from 44 (0)131 626 3660.
The Royal Bank of Scotland Groups corporate responsibility report 2004
The report provides an insight into how the bank is trying to make sure its financial returns are sustainable in the long term
