Speaker 1: In this presentation we're going to look at why you should communicate corporate responsibility externally. There's an evolving business case for communicating corporate responsibility. Consumers want to know that you're managing the issues on their behalf and your business partners need to understand what you're doing on sustainability and what your expectations of them are. Governments are also taking an increasing interest in corporate responsibility issues and getting communications wrong can cost CEOs such as Tony Haywood of BP pictured here on the right their job as opinion formers and their views do actually matter. Social media is also creating a communications imperative. There are millions, hundreds of millions of users worldwide all starting to use various social media platforms around the world and there's enormous growth taking place in some of these social media platforms. YouTube is also creating an opportunity for companies to communicate as over a billion unique users a month are looking for things to watch on YouTube and will watch engaging content if companies can use corporate responsibility to create it. Print and TV media also still matters. Although the newspapers in the West are struggling financially they have large presences online and their names carry significant weight if a report is carried that's negative or positive about your company. We're also seeing television stations get very interested in corporate responsibility. The CNN Freedom Project focusing on slavery has been very high profile and has covered a number of companies in their areas of operation and we're also seeing growth in the media in emerging markets where there's an increasing interest in corporate responsibility issues and coverage of the companies. Trade press is also important. They can do public relations for you if you have good news announcements to make and they can build confidence across your business and even with analysts and investors. Consumers are certainly being shown to want companies to do the right thing. We're seeing up to 90% of them want companies to go beyond minimum standards and we're seeing a significant proportion of them saying that business should argue and advocate for progressive change. They're also saying that they are under-informed but interested to know more about what companies are doing on corporate responsibility issues. Many consumers believe business is a good thing but a lot of them are confused about what companies are doing and that drives a need for clearer communications. Of course we do know as well that their desires are not reflected in their purchasing patterns mainly because they find these issues too complicated to understand when in the supermarket or buying products and services. But that doesn't mean they don't want them to happen, it just means that the corporate labelling schemes and other eco-labelling schemes have confused customers and there is change and rapid change in the market which is affecting purchasing habits, just not quite to the degree that some companies would like. But that doesn't mean consumers don't expect large companies to act, they want to trust brands and they don't understand eco-labels. Brands are increasingly facing a choice of taking out more unsustainable products than they sell and improving what they are doing and communicating about it with consumers. We're also seeing brands suffer from a lost opportunity if they don't because their competitors can get well ahead of them and create a reputation for engagement and consumer activity. And we're also seeing a need for companies to reassure stakeholders generally that they take issues from ethics all the way to corporate responsibility and climate change seriously through their product, services, advertising and actions every day. Opinion formers are increasingly important, we see a lot of internet traffic focusing on comment rather than news and that's reflecting the popularity of blogs and social media commentators. We'll be talking about that in different presentations. So what conclusions can we draw from this? Well certainly if you're above a certain business size communication is no longer optional. What that size is depends on the industry you're in and the impact that you're having and we're starting to see attention turn to B2B companies alongside consumer brands. So the question about whether or not you should communicate is not really this question of whether, it is a question of what and how and when. However it's not easy and we'll be trying to look at some good examples in further presentations.