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20

Operating with honesty

and transparency

As an ethical bank, our customers rightly expect

us to conduct our business with honesty and

transparency – in particular in our relationships with

public institutions. We therefore make the following

commitments:

• We will adopt the principles of best practice in

our relationships with public institutions, as set

out in the Association of Professional Political

Consultants (APPC) Code of Conduct or equivalent

bodies over time. We will also:

-- Publish details on a quarterly basis of all

formal meetings on behalf of The Co-operative

Bank between government ministers and

members of the Bank’s Board and Executive.

-- Never donate to a political party, politician

or party political campaign group.

• We are committed to ensuring that The

Co-operative Bank does nothing in its tax

affairs that runs contrary to either the letter or

spirit of UK tax legislation. As evidence of this,

we are signatories to the Code of Practice for

the Taxation of Banks.

Ethical governance

The Co-operative Bank is dedicated to ensuring that

values and ethics are at the heart of our governance

as a business. We do this in the following ways:

• In November 2013, we codified values and

ethical policies in the Bank’s constitution by

writing reference to them into our Articles of

Association.

• We established a new, independently chaired

Values and Ethics Committee as a sub-

committee of the Bank’s Board to ensure

accountability for values and ethics.

• We report annually on our performance on

values and ethics, and will publish details of the

decisions we take under the Ethical Policy.

Environmental impacts

The Co-operative Bank already adopts a ‘beyond

carbon neutral’ policy offsetting our operational

greenhouse gas emissions plus an extra 10% to

address legacy issues.