Introduction from our Chairman, Ian Davis
Our strategy must be directed towards creating a sustainable business. For Rolls-Royce that means driving profitable growth whilst achieving a positive economic, social and environmental impact. We will deliver better power to our customers, use innovation to secure a better future, and build on today’s achievements to develop a better business, ready to meet the challenges ahead.
The Board and management are united in this endeavour. We invest significantly in research and technology to allow us to develop increasingly more efficient power systems and continue to mitigate our environmental impacts.
To retain our world-class position we recognise that we need world-class people. We work actively to support Science, Technology, Engineering and Maths (STEM) teaching in schools and have strong partnerships with universities around the world, recognising that we will need more and more skilled engineers in the future as we continue to grow. We also place a high priority on the training and professional development of our own people.
We are consistently striving to improve our operational performance. Fundamental to a healthy company are strong ethical standards and behaviours, supported by good governance. This year, I have merged the work of the separate safety and ethics committees into one broader-based safety and ethics committee that will give greater focus to our sustainability agenda.
Leadership perspective from our CEO, John Rishton
I believe that our commitment to the 4 C’s; customer, concentration, cost and cash, will help us to achieve our vision of Better power for a changing world.
Our business priorities are to deliver on the promises we have made, decide where to grow and where not to, and to improve our financial performance. Sustainability will play a critical role in ensuring we can deliver on these promises.
Customer – Continual improvement of our products and services will allow our customers to do more using less.
Concentration – Investment in product development, improving operational performance and the development of our people will help us to grow our business to secure a better future.
Cost and Cash – Investing in improvement projects and reducing our wastes and inefficiencies will help us to accelerate profitable growth and drive a better business for our shareholders.
Sustainability makes good business sense. Our strategy must be to create a sustainable business, through our focus on customer, innovation and profitable growth. Our commitment is to continuously improve the environmental performance of our products and services.
If we were not continually improving the performance of our products, our people and our operations then we will not remain competitive.
We believe that advanced engineering has a critical role to play in meeting the environmental and societal challenges the world faces.
With our customer at its heart, our strategy will deliver ‘Better power, a Better future and a Better business’.
Better power – Helping our customers do more using less.
Better future – We are committed to innovation: powering better, cleaner economic growth that creates value for customers, employees, investors, suppliers and wider society.
Better business – We invest in technology, people and ideas to improve all aspects of our performance and to drive profitable growth. Building on today’s achievements to meet the business challenges of the future.
We recognise that sustainability must be a critical part of all we do and our Executive Leadership Team has overall responsibility for driving sustainability across the business.
In 2014, we will be revising our key performance indicators for sustainability. These will help drive improved performance and demonstrate that we manage our business for the long-term addressing financial, social, environmental and ethical concerns.
Our Global Code of Conduct sets out the behaviours we expect of our employees that will make sure we maintain high ethical standards, build trust with our customers and each other, and help secure the long term success of our business. We support our suppliers to do the same through our Supplier Code of Conduct.