One of the largest employers in the South West, Pennon Group, has been awarded the Fair Tax Mark for the sixth year in a row.
One of the leading businesses in the UK water sector, Pennon is an environmental infrastructure business, serving around 3.5 million people across the Greater South West.
The Fair Tax Mark accreditation scheme is the gold standard of responsible tax conduct. It seeks to encourage and recognise organisations that pay the right amount of corporation tax at the right time and in the right place. Accredited businesses include listed companies, co-operatives, social enterprises and large private businesses.
As a FTSE 250 UK-focussed company, Pennon say they take their responsibility to transparency and societal contribution seriously which includes ensuring it pays the right amount of tax, in the right way, at the right time.
The group became the first UK business in the water industry to be awarded the Fair Tax Mark in 2018 and has now successfully retained it each year since.
As well as its dedication to being a responsible business, Pennon’s commitment to long-term sustainable growth in the UK’s environmental infrastructure has seen the acquisition of three new renewable energy generation projects, marking a significant stride towards a collective sustainable future as part of the newly formed Pennon Power Limited.
Around 100 parent companies and 250 distinct trading businesses are currently Fair Tax Mark accredited, who between them employ over 250,000 people and contribute more than £1.25 billion in corporation tax annually.
Susan Davy, CEO of Pennon, said:
“We are pleased to be recognised for the sixth year in the row. We pride ourselves with running a fair and responsible business that contributes to the broader social and economic impact on our region and the rest of the country. This, in turns helps the communities we operate in to deliver valuable public services and develop for future growth.”
Graham Drummond, Head of Communications and Movement Building, Fair Tax Foundation, said:
“Through our third party, independent accreditation, Pennon is recognised as being open, honest and transparent in its approach to tax reporting. Pennon is part of the Fair Tax movement of businesses across the UK and Europe that is committed to following both the spirit and the letter of tax law – something that really resonates with customers, employees and other stakeholders.”
