1. LA MINERIA POTÁSICA EN LOS ESTUDIOS GEOGRÁFICOS
1.3 La minería de la potasa en la economía comarcal
Evaluating company products and services along the whole value chain COMPANY GRADE
C+
Vodafone
WIRELESS TELECOMMUNICATION SERVICES - United Kingdom
Inrate| Sustainability Assessment | © Copyright 2013
69
Inrate Sustainability AssessmentCommunication sector Environment
B-
LabourC
SocietyC-
GovernanceA+
Key sustainability issues concerning the company Competition practices
Transparency of pricing structure Customer relations
Impact of radio frequency radiations Working conditions of employees Digital divide
Health & safety of employees
Key considerations
Vodafone is the worldʼs second-largest mobile operator in number of subscribers and has worldwide operations. For years, the company has implemented comprehensive policies and programs to tackle CSR issues inherent in the telecom industry. Notwithstanding these measures, Vodafone has been involved in numerous and major controversies related to employment conditions, business ethics and customer relations.
Considering employment conditions, strikes and criticims from unions in the UK resulted by the company's decision to relocate and outsource jobs in low cost countries. In Ghana, Vodafone had also to deal with other disputes related to poor working conditions, low salaries and mass termination of call center operators.
Regarding business ethics issues, Vodafone was repeatedly accused of violating anti- competition laws in Europe and was fined on several occasion, although the company deployed a complete code of ethics covering all business ethics topics. It also faced an important corruption case related to mobile phones licenses in India. Moreover, Vodafone has been involved in numerous controversies related to tax avoidance, notably in UK where it was revealed that the company did not pay any corporation tax in 2011 despite earnings of several hundred million pounds.
In the matter of customer relations, Vodafone implemented a client satisfaction motoring system to get direct feedback from customers. But the company faced numerous criticisms from consumer watchdogs, such as Consumidores en Accion in Spain. In addition, the telecom operator was recurrently sued for misleading customers about the cost of its services.
Vodafone acts in a responsible way according to its policies and action plans. But the disputes and controversies faced by the company in the last years show that substantial
efforts remain to be done for sustainability. [email protected]Analyst: Gael Kyriakidis
Assessment date: 29.03.2013 Report generated on: 17.10.2013
The Inrate Sustainability Assessment is a measurement of and an opinion about the environmental and social impact of an issuer. It rates companies on a scale from A+ to D-.
Stock information
GB00B16GWD56ISIN
B16GWD5Sedol
VOD.LRIC
VOD LNBloomberg Ticker
Key figures
91'272Employees
44'445Revenues (M GBP)
Business description
Vodafone Group Plc (Vodafone) is a mobile communications company operating across the globe providing a range of communications services. It offers a range of products and services, including voice, messaging, data and fixed-line solutions and devices to assist customers in meeting their total communications needs. It has a global presence, with equity interests in over 30 countries and over 40 partner markets worldwide. It operates in three geographic regions: Europe, Africa and Central Europe; Asia Pacific, and the Middle East, and has an
investment in Verizon Wireless in the United States. In March 2012, Verizon Wireless, which is a joint venture of Verizon Communications Inc. and Vodafone, purchased the operating assets of Cellular One of Northeast Pennsylvania from the Company. In May 2013, Vodafone Group Plc announced launch of its carrier services business unit.
Source : Reuters, updated 13.05.2013
Inrate Sustainability Assessment
Evaluating company products and services along the whole value chain COMPANY GRADE
C+
Vodafone
WIRELESS TELECOMMUNICATION SERVICES - United Kingdom
Inrate| Sustainability Assessment | © Copyright 2013
Environment
Society
Labour Governance
Environment
B+
LabourA-
SocietyB+
GovernanceB-
Key sustainability issues concerning the company Sustainability impacts of company's own investments
Fairness and transparency of insurance contracts and consulting services Fair and transparent financial business practice
Sustainability impacts of insurance products
Key considerations
Zurich Insurance Group is an internationally active multi-line insurer present in over 170 countries and serving individuals as well as business customers of all sizes. As such, the company is more and more confronted with sustainability risks.
To answer the sustainability issues of its industry, the company has developed tailor-made insurance products for ecologically favorable industries and projects and considers ESG criteria in its own investments. For example, the company offers electric vehicle insurance products and provides coverage for construction risks for renewable energy power plants such as for the "Desert Sunlight" project in California (one of the largest photovoltaic solar farm projects in North America).
Zurich Financial Group is a signatory of the UN Principles for Responsible Investment (PRI) and integrates environmental, social and governance (ESG) factors into its
investment decision processes. Furthermore, the flood resilience program for communities and the accident prevention programs for private customers are two examples of the company's risk reduction efforts.
The company has taken measures to reduce its direct ecological impacts, by reducing energy consumption and adopting green procurement measures. Some of its sites have obtained the ISO 14001 certification for their environmental management system. Moreover, it has developed a risk profiling methodology providing underwriting guidance and training in four areas of concerns (cluster munitions, dam construction projects, oil and gas construction projects and projects with human rights infringements).
Even if Zurich Insurance Group is not active in a sensitive sector regarding employees, the company has implemented relevant programs to ensure proper working conditions. Comprehensive employee programs have been adopted, such as regular surveys to monitor employee satisfaction and employees take part in work councils.
However, Zurich Insurance Group faced some concerns in 2012, especially in relation with the employees of its subsidiary Farmers Insurance Group (misclassification of employees to independent contractors to avoid tax obligations) and with the violation of Irish data protection laws (possession of personal information of private people).
Analyst: Daniela Perito [email protected]
Assessment date: 18.03.2013 Report generated on: 17.10.2013
The Inrate Sustainability Assessment is a measurement of and an opinion about the environmental and social impact of an issuer. It rates companies on a scale from A+ to D-.
Stock information
CH0011075394ISIN
5983816Sedol
ZURN.VXRIC
ZURN VXBloomberg Ticker
Key figures
52'722Employees
70'416Revenues (M USD)
Business description
Zurich Insurance Group Limited is a Switzerland-based holding company engaged in the insurance sector. The Company provides a range of general and life insurance products and services for individuals, small business, mid-sized and large-sized companies, and multinational corporations. The Company offers its products and services through three business segments, namely General Insurance, Global life and Farmers. The General Insurance segment offers motor, home and commercial products and services for individuals, as well as small and large business. The Global life segment offers life insurance, savings, investment and pensions solutions. The Farmers segment includes farmers management services, which provides non-claims management services to the farmers exchange, as well as Farmers Re business, which includes reinsurance assumed from the Farmers Exchange by the Company's group. Furthermore, the Company provides reinsurance and insurance business considered as non-core business.
Source : Reuters, updated 21.02.2013
Inrate Sustainability Assessment
Evaluating company products and services along the whole value chain COMPANY GRADE
B+
Zurich Insurance Group AG
INSURANCE - Switzerland
Inrate| Sustainability Assessment | © Copyright 2013
70
Inrate Sustainability AssessmentFinancial services sector
Environment
Society
Labour Governance