CSRCORPORATE SOCIAL RESPONSIBILITY POLICY CSR

CSR

1. Introduction

At Cramlington Precision Forge Limited, we are committed to conducting our business in a socially responsible and ethical manner. We recognize that our activities have an impact on the environment, society, and the economy, and we strive to make a positive contribution to all three. This Corporate Social Responsibility (CSR) Policy outlines our commitment to sustainable practices and responsible business conduct.

2. Scope

This policy applies to all employees, directors, and stakeholders of Cramlington Precision Forge Limited. We expect our partners, suppliers, and contractors to uphold similar standards of social responsibility.

3. Core Principles

3.1 Ethical Business Conduct
- Maintain the highest standards of integrity and professionalism in all our business activities.
- Comply with all applicable laws, regulations, and industry standards.
- Promote transparency and accountability in our operations.

3.2 Environmental Sustainability
- Minimize our environmental impact through efficient resource use, waste reduction, and pollution prevention.
- Promote sustainable practices and technologies to reduce our carbon footprint.
- Continuously seek opportunities to improve our environmental performance.

3.3 Social Responsibility
- Support and respect human rights as outlined in international conventions and local laws.
- Ensure fair labour practices, including non-discrimination, freedom of association, and fair compensation.
- Foster a safe, inclusive, and diverse workplace where employees are treated with respect and dignity.

3.4 Community Engagement
- Actively contribute to the communities in which we operate through charitable activities, volunteerism, and partnerships.
- Support local economic development and educational initiatives.
- Encourage employee involvement in community service and socially responsible activities.

3.5 Stakeholder Engagement
- Engage with our stakeholders, including employees, customers, suppliers, and the community, to understand and address their concerns and expectations.
- Foster open and transparent communication with all stakeholders.

3.6 Current CSR Activities
- Charitable donations toward Marie Curie and Barnardo’s charities.
- Charitable activities for St Oswald’s hospice, Brockwell, Cramlington.
-Food bank donations, Cramlington
-Contribution toward Bedlington Primary School’s learning bus.
-Donation and organisation towards Gary Hargreaves Memorial Golf Day.
-Introduction of a bike to work scheme, improving people’s health and helping the environment.
-Not contributary medical scheme for senior employees.
-Death in service insurance policy for all employees.
-Company cars transitioning to electric.
-Purchase of 100% green energy to power the factory.
4. Implementation and Accountability

4.1 Responsibilities
- The Board of Directors/General Manager is responsible for overseeing the implementation of this CSR Policy and ensuring its alignment with the company's strategic objectives.
- Management is responsible for integrating CSR principles into business operations and practices.
- All employees are expected to adhere to the principles outlined in this policy and contribute to its successful implementation.

4.2 Monitoring and Reporting
- Regularly monitor and evaluate our CSR performance through key performance indicators (KPIs) and internal audits.
- Report our CSR activities and progress to stakeholders through annual sustainability reports and other communication channels.
- Continuously review and update this policy to ensure its relevance and effectiveness.

5. Commitment to Improvement

We are committed to continuously improving our CSR practices and achieving sustainable growth. By integrating social, environmental, and economic considerations into our business strategy, we aim to create long-term value for our stakeholders and contribute positively to society.

6. Review and Approval

This CSR Policy is reviewed annually and updated as necessary to reflect changing circumstances, emerging issues, and best practices. The policy is approved by the Board of Directors/General Manager and communicated to all employees and stakeholders.

Date of Approval: 25th June 2024

Next Review June 2025

Approved by: Lee Taylor, General Manager
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