| Social Responsibility |
| Shareholders |
Our sole equity shareholder, Co-operative Wholesale Society (CWS), is as committed to the idea of social responsibility as is The Co-operative Bank. During 1997 the two organisations consulted closely on a wide range of projects. They also collaborated on two initiatives:
• honest labelling
• and the environmental impact of PVC production.
In this section, we report on honest labelling.
There are strict laws requiring food manufacturers to label their products honestly. But it's surprisingly easy to find loopholes. What would you imagine an egg labelled "farm fresh" to be? It sounds appealing, but the phrase can be used to describe eggs from hens kept in battery cages.
Therefore, last year CWS launched a campaign for honest labelling. CWS's policy of labelling its own brand products honestly is part of a much wider commitment to enable customers to make informed buying decisions: a commitment which can be traced back over a century and a half to the very beginnings of the Co-operative Movement. When the first Co-operative store was set up, it had the specific aim of providing the local community with wholesome food at fair prices.
The Co-operative Bank joined the campaign and drew its customers' attention to 'seven deadly labelling sins' in order that they might be more aware whilst shopping. For example, what does a word like "traditional" actually mean on a label? It may conjure up an attractive image, but often the product concerned is stuffed with far from traditional additives such as preservatives and sweeteners. CWS products are only labelled "traditional" if they are made by processes and contain ingredients and additives which have been available for around 50 years.
| In our annual Financial Statements we provide a full review of The | |
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| Our sole equity shareholder, Co-operative Wholesale Society (CWS), is as commited to the idea of ecological sustainability as is The Co-operative Bank. | |
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