Outsourcing waste and recycling business, Reconomy, has launched the ‘Reconomy Social Value Programme (RSVP)’, which it says will help the company develop a “value driven approach to sustainability”.
The scheme will aim to support the company’s focus on “building valuable community relationships”.
Reconomy says the three main strands of the programme are to ‘bridge gaps’ for young people leaving care, ‘break barriers’ for ex-offenders and the homeless and ‘support change’ in the wider industry.
As part of this, the company has ring-fenced 1% of PBIT (profit before interest and tax) for investment in social value projects and guaranteeing several internships for care leavers.
Reconomy added that 35% of its employees have also taken up the opportunity to participate in volunteering, while the company will use the National TOMS method for measurement and use the Social Value Portal tool to publish regular reports of the value created.
Commenting on the launch, Reconomy’s chief executive, Paul Cox, said: “We recognise that fulfilling our social, as well as our commercial and environmental obligations, is a vital part of us realising our ambition to become the leading sustainable business in the UK’s environmental services sector.”
Mr Cox added: “This is not something we can do alone however, so in addition to outlining our own commitment as a business, RSVP is an invitation to our customers, suppliers and partners to help us realise positive change and increase social value in the communities in which we operate.”
As well as helping employees to ‘make a difference’, Reconomy added that it will seek to “leverage relationships with customers and suppliers to help realise positive change”.
Based in Telford, Reconomy principally operates across four key sectors: commercial construction, housebuilding, infrastructure and business & industry. The company expects its turnover to exceed £250 million in 2018/19.
Providing outsourced waste services for SMEs and blue-chip clients, the company handles over 100,000 waste movements every week and annually manages a reported 3 million tonnes of waste.