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Our principles
Our communities Awards bidfood.co.uk/sustainability
Tax transparency and
responsible payment of tax
We follow the following guiding principles
• We commit to act responsibly in relation to
our taxation affairs, to fulfil our compliance
and disclosure obligations, and to operate in
accordance with all relevant laws and regulations.
• We aim to pay the right and proper amount
of taxation.
• We seek to be efficient with our taxation affairs and,
in this context, will ensure that all taxation planning
is built on sound commercial business activity.
• We manage taxation in line with our
governance framework and procedures.
• We build constructive relationships with tax
authorities, use third party tax specialists
when necessary to continuously improve our
administration capabilities and the promotion of
efficient tax systems.
• We understand the value of our financial reporting
and work to provide enhanced and balanced
disclosure in communicating our taxation affairs.
Commitment to an external ESG
reporting framework by 2023
We recognise that whilst our sustainability report
meets the majority of the needs of our customers
and employees, we don't currently report against an
externally recognised ESG framework. During 2022
we've been evaluating the range of frameworks that
exist (e.g. GRI, SASB, CDSB, IIRC, to name but a
few!) with the goal of choosing a framework that is
fit for current and future needs, and ideally aligned
to our parent company, Bidcorp. We will of course be
reporting against TCFD requirements next year as
part of our Annual Report and will communicate our
progress during the year.
Responsible pension investment
Our employees' pension fund is managed by Aegon
UK, which is a member of the Institutional Investors
Group on Climate Change (IIGCC), which aims to
accelerate progress towards a net zero and resilient
future. Companies that manage investment funds
within Aegon's portfolio are asked to sign up to the
Responsible Investment Framework, which requires
them to follow both the UK Stewardship Code and
the Principles of Responsible Investment. Aegon has
set a target to be within the top 25% of responsible
businesses by 2025 (Source: Investing responsibly
matters aegon.co.uk)
Supporting the Better Business Act
We are a coalition member of the Better Business
Act, a campaign that aims to transform the way we
do business so that every single company in the UK,
whether big or small, takes ownership of its social and
environmental impact. On April 20th (Better Business
Day), representatives from Bidfood joined with other
corporates to campaign for change. We requested to
meet with our respective MPs to talk about the act,
which is calling for companies to be legally required
to be not only accountable for profit, but also for their
impacts on people and planet. Over 1,200 businesses
have joined the campaign and it's growing by the
day. We're so proud to be part of this call for change.
The campaign also aims to create a new postBrexit
identity for the UK as a focal point for green
investment and jobs. To find out more, you can read
our CEO's blog on why we joined up.
Bidfood's sustainability
team wait to meet
their MPs on Better
Business Day