Corporate Responsibility is embedded in our business strategy. It is reflected throughout our operations as well as in our products. As a leading financial information company, transparency and integrity are vital to our business. Below is our 2012 Corporate Responsibility and Sustainability Report.
Welcome to McGraw Hill Financial’s 2012 Corporate Responsibility and Sustainability Report which provides an overview of CRS at the corporation. In this report, published exclusively online, we discuss our approach to corporate responsibility and sustainability in our products and services as well as our operations. All information in the report relates to calendar year 2012 and covers our global operations unless otherwise noted.Transparency is the cornerstone of our business. We apply this same level of transparency to our CRS performance and reporting. We have prepared our report according to the Global Reporting Initiative (GRI) guidelines and are self-reporting at the GRI Application Level C. Click here to access our GRI Index.
What makes a company responsible? We believe it is a commitment to transparency, integrity and sustainability. These core values guide all of our efforts whether it is our dedication to protecting the environment, or our pledge to contribute in meaningful ways to society at large.
We prepare individuals, societies and markets for succeeding in our markets. In support of this mission we are committed to responsible business practices that enhance the economic, social and environmental well-being of the communities where we work and live.
Our ongoing commitment to corporate responsibility and sustainability is seen in many ways around our company. We’re deeply proud of these efforts, which include:
- Developing a wide array of products and services to serve the growing sustainability marketplace
- Green Teams and other employee engagement activities that are helping to reduce our environmental footprint
- Driving sustainability through operations—from our facilities to our supply chain
- Innovative grant making focused on financial capability for all
These efforts speak to much more than our bottom line; they speak to who we are.
MHFI CR Materiality Strategic Review
With the transition to McGraw Hill Financial, the Corporate Responsibility (CR) team sought to refine its CR strategy to align with MHFI’s business objectives. In order to maximize the role that CR plays in supporting the business strategy we held a working session and conducted a materiality assessment to evaluate issues that are most material to MHFI. Representatives from across business units and operations met at our Water Street office in New York City to map relevant topics based on their importance to stakeholders and potential impacts on the business.
Identification of Material Business Topics
We developed a list of 50 topic areas with the goal of creating a holistic list representative of both business and stakeholder concerns. To identify relevant topics, we reviewed internal corporate documents, researched emerging sustainability issues, identified industry trends, and interviewed senior leadership.
Prioritization of the Topics
At our CR Strategy Working Session we methodically walked the session attendees through the list of topics. We held an open discussion for each topic to facilitate input from all business unit and operation representatives to achieve an assessment of each. The topics were then plotted on a materiality matrix. The x-axis shows increasing impact to MHFI from left to right. These impacts were evaluated based on market share including payback periods for ROI and investment size; compliance, license to operate and monetary costs; employees and talent attraction and retention; and reputation including issue management and corporate responsibility. The y-axis shows importance to stakeholders increasing from bottom to top. The threshold assessment for these issues was based on the numbers of stakeholders affected and area of interest for stakeholders such as their relation to regulations.
The topics in the “upper right” quadrant helped inform the focus areas for our new CR platform. These topics are now a part of our Corporate Responsibility Essentials framework. The issues that fell into this quadrant include data accessibility, transparency, capital market literacy, energy and commodities markets, financial service innovation and consumer attitudes towards the financial services industry. We consider all the issues that we mapped important; the position of each within the matrix merely represents our interpretation of their relevant materiality. All plotted issues are considered fundamental to McGraw Hill Financial and its stakeholders and are still embedded in our CR framework.
McGraw Hill Financial is committed to soliciting feedback from all of its stakeholders. We periodically engage with stakeholders—including policy makers, nongovernmental organizations (NGOs), academic institutions, employees and others with an interest in our company—to gain insight into key corporate responsibility and sustainability issues and how they pertain to the Company. This feedback, together with our work every day, helps us determine the issues most material to our business.
We also engage with global corporate responsibility organizations. Recognizing that our business exists only in the context of a highly functioning and sophisticated economy and society, we engage in partnerships with other companies, NGOs and governments to achieve mutual goals of sustainability and transparency. These partnerships allow us to learn and contribute our knowledge to the larger discussion on corporate responsibility. Some groups that we actively engage with include:
- Business for Social Responsibility (BSR)
- Boston College Center for Corporate Citizenship
- Business Roundtable’s S.E.E. (Social, Environment and the Economy) Change Initiative
- Sustainable Leadership Forum
We hope you find this report informative and engaging. We welcome any suggestions and comments. Please contact us at:email@example.com