I am a director of the Fair Tax Mark. I also advise Pensions & Investment Research Consultants, who are the advisers to the The Local Authority Pension Fund Forum amongst others and are widely recognised for their role in promoting strong corporate governance. I am as a result delighted that the two have got together and share this press release from the Fair Tax Mark, issued this morning:
We're thrilled to announce that the globally respected corporate governance expert, PIRC, has been awarded the Fair Tax Mark.
PIRC joins a growing list of businesses that have achieved the Fair Tax Mark, and demonstrates the degree to which ‘tax' is becoming a priority issue for the socially responsible investment sector.
Since its creation by pension funds in 1986, PIRC (Pensions and Investment Research Consultants Limited) has been a pioneer and champion of good corporate governance in the UK and has grown into a globally recognised expert in the field. PIRC's range of services is designed to facilitate and support responsible capital stewardship by longterm
investors.
PIRC's Fair Tax Mark certification is consistent with its Mission and Values, whereby it aims to deliver services on a sustainable, transparent and principled financial basis. Alan MacDougall, Managing Director of PIRC, said:
“In the world of investment we believe in sustainable strategies that focus on the long term; holistic assessments of corporate activities and client investment decisions that create sustainable value.
Responsible and transparent tax planning is now a key indicator of good corporate citizenship. Since the early 1990s, PIRC has been a public advocate for good governance and social responsibility, in addition to our role as a service provider. Our Fair Tax Mark certification affirms our belief that taxation is an important contribution to wider society rather than a cost to be minimized.”
Paul Monaghan, Chief Executive of the Fair Tax Mark said:
“PIRC has been a globallyrecognised key influencer of socially responsible investment and corporate governance for some three decades. To have them pursue certification and champion the Fair Tax Mark is a fantastic endorsement of what we are doing and the increasing importance of this issue to the socially responsible Investment community.
Poll after poll shows that tax avoidance is the number one concern of the UK public when it comes to corporate conduct. How a company deals with its tax affairs is key to its reputation. This creates enormous corporate risks, but opportunities also.”
PIRC joins a number of other businesses that have achieved the Fair Tax Mark, including FTSE-listed plcs SSE, Go Ahead and Marshalls; large private entities Lush, Richer Sounds, Winder Power and Staffline; numerous pioneering social enterprises such as the Co-operative Group, Midcounties Co-operative, Ecology Building Society and Unity Trust Bank; as well as a variety others, including Bytemark Hosting and Urban IT support.
Are you a business which would like to prove you're paying your fair share? Find out how to get the Fair Tax Mark now.
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Ooo. I buy my gas & electric from SSE. I must look into that further.
Congratulations to PIRC on their Fair Tax Mark accreditation.
It causes me to recall the conversation I had in 1988… at the Bank at which I worked…. with my boss who was a Sergeant with the Salavation Army.
I asked him how he could reconcile his Christian work with his job at a bank…. to which his reply was “our Bank pays its fair share of tax”.
A sentiment I think all corporate entities should ponder and – if they do – come knocking on your door!