CSR and Big Yellow Self Storage
Recently, CSR has moved to centre stage for many a business. Falling in line with our development and expansion programme, Big Yellow has taken full advantage of the opportunity to balance social and environmental responsibilities with commercial objectives. We as a company have refined an already comprehensive programme, believing that our self-storage business really can tick all three boxes. Big Yellow believes that in the long term, CSR activities will create a more sustainable business, happier customers and ultimately, increase shareholder value.
Short term payback comes from energy efficiency modifications, which in turn improve the economic bottom line of the company by reducing spend on electricity and heating. On top of this, on-site renewable energy installations contribute towards the same goal but just have longer term effects.
On the operational side, a focus on managing carbon emissions and improving recycling (including eco-labelled packaging materials) means improved customer and employee satisfaction, as well as creating a new USP for Big Yellow. We put more investment and resource in developing green aspects of the business than any other self-storage firm in the UK.
As part of this objective, a formal integrated CSR structure is being implemented to encourage ‘best practice’. This covers all of Big Yellow Group’s operations, as both developer and operator of self-storage.
We want to meet the self-storage needs of both private and business customers, while helping to create local employment and contributing to local community regeneration. Preventing pollution and a waste of resources, as well as providing capital for sustainable development that is economically viable is a key goal.
On top of this, Big Yellow has a committed and skilled staff of 208 people, and is has the responsibility to provide an attractive and safe working environment, equal opportunities, training to improve skills and, where practicable for a business of this size, career progression. The company’s shareholders and bankers are also kept fully involved with these policies through reporting, our Investor Relations website and various announcements to inform them on the progress of the business. This is forms part of Big Yellow’s commitment to provide our shareholders with an attractive return on their investment through dividends and share price growth.
We are well on our way to achieving this goal, as the company has met the strict criteria of the FTSE4Good Index Series for ethical institutional investors who invest in companies that demonstrate good standards in corporate responsibility. We have also recently participated in the sixth Carbon Disclosure Project (CDP6), which is supported by institutional investors with a combined $57 trillion of assets. It seeks information on business risks and opportunities presented by climate change and greenhouse gas emissions data.