At an awards ceremony in the City of London, ITV was announced as a top community investor. Leading a cohort of 25 companies who are pioneering best practice in CSR, ITV were crowned the first ever top contributor of the GivX Community Value Award (the GivX Awards).
Using the innovative new framework for measuring the value of giving to the community, ITV was best in class with a score of 10,164 points (or £10,164 of value to the community) per employee.
Measuring ‘Community Value’ places emphasis on the worth of donations or volunteering work for charities. It is defined as the replacement cost the charity would have to pay if it were to purchase similar goods or services on the open market.
As first ever winners of the GivX Community Value Award, ITV’s high score was a reflection of our commitment to putting our strengths to the service of the community: dedicating many hours of air time to drive awareness and action for social causes, as well as public donations to charities. We are pleased to be an early adopter of a system which will simplify and provide transparency in the field of corporate giving.
Developed by the social enterprise Benefacto, the GivX framework allows companies and organisations to simply and effectively measure their community investment, and to benchmark their ratings against other companies.
Everyday our programmes give us the chance to raise awareness and champion causes to millions of people. Reaching about 40 million people a week, we have a unique opportunity to have a positive impact on society. GivX makes it simple for organisations to assess their value and benchmark their contribution.
Madeleine Cobb, Head of Corporate Responsibility at ITV
The principle behind the GivX framework is to make it easier for businesses and organisations to measure their contribution to the community and then communicate it. Our inaugural awards were to celebrate an innovative group of companies, who by pioneering the framework, are committing to transparently and effectively reporting their change-making community investment programmes. At Benefacto, we believe that, to measure CSR effectively, companies need to look beyond the cost to them of giving, and focus on the actual value created for charities.
Ben Darlington, Head of Member Services at Benefacto
The other 25 companies recognised on the GivX report include HSBC, Carillion, and John Lewis Partnership. A big well done to all the companies involved!