| Access |
The ability to use our products and services regardless of physical or geographical limitations |
| Accountability |
Openly demonstrating how the Society operates and providing the opportunity for stakeholder involvement in this process |
| Assurance |
The audit process which validates that the information in the report is relevant, useful and factually correct |
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| Biodiversity |
The richness and variety of plants, birds, animals and insects that exist throughout the world |
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| Carbon Management Strategy |
Describes and quantifies an organisation's usage of carbon dioxide, a significant greenhouse gas, and offers recommendations for reducing the amount released year on year |
| Climate change |
Increasing amounts of greenhouse gases in the atmosphere mean less heat from the sun is able to escape. There is evidence that this results in significant changes to our climate that are already affecting us and could have catastrophic consequences. See also greenhouse gases |
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| Diversity |
Ensuring we provide an environment where every employee can develop and operate to their full potential and that reflects the range of needs of our members and the communities where we operate |
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| Energy |
Ensuring that the highest levels of benefit are obtained from the original energy source |
| Engagement |
The process by which an organisation forms a mutually beneficial dialogue with its stakeholders |
| Environmental impact |
Organisations affect the environment in many ways. The impact may be positive, for example, tree planting or negative, such as releasing harmful pollutants |
| Environmental Management System (EMS) |
An integrated set of systems and processes that identifies, manages and reports on an organisation's key environmental impacts. It involves engagement with all stakeholders to improve overall environmental performance |
| Emissions |
The outputs to air or water from the processes we use to run our operations, such as using energy |
| Equal opportunities |
Giving every woman and man, whatever their age, race, religion, disability or sexual orientation an equal chance |
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| Fairtrade |
Fairtrade is about better prices, decent working conditions, local sustainability, and fair terms of trade for farmers and workers in the developing world |
| Financial inclusion |
Ensuring that everyone has access to reputable financial services such as banking and savings accounts |
| Flexible working |
A way of working that recognises that employees wish to balance home life with work life. It offers the opportunity to complete work hours at times and in ways that suit the needs of the employee |
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| Global warming |
One element of climate change |
| Governance |
The set of structures, such as committees and boards, that act as checks and balances on an organisation's management |
| Greenhouse gases |
Gases, including carbon dioxide (CO2) and methane, that are increasing in the Earth's atmosphere as a result of human activities |
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| Members |
Members are those who hold a FlexAccount or a savings account or who have a Society mortgage. Eligible members have voting rights and can vote in our Annual General Meeting |
| Member value |
The additional financial benefit returned to members of Nationwide as a result of the Society's mutual status |
| Mutual |
Nationwide is a mutual organisation - it is owned in common by its members who elect a board of directors to manage the Society on their behalf |
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| Partners |
Individuals, agencies and organisations with whom we work strategically for mutual benefit and goals. Examples include suppliers, community partners and sustainability advisory groups |
| Pricing benefit |
Pricing benefit is value returned to our members. The estimated pricing benefit is calculated by comparing the price of each of our products (including interest rates, fees and charges) with the equivalent products offered by our main competitors |
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| Renewable energy |
Energy sources which do not rely on the burning of fossil fuels or nuclear reactions. They are continually available and essentially free, other than the cost of capturing them through engineering solutions. Major renewable energy sources are hydro-electricity, wind and solar power. Geothermal (hot-rocks), wave and tidal energy are being developed |
| Responsible lending |
Lending in a way that people can afford and where risks to Nationwide and its members have been minimised |
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| Stakeholder |
A person or group of people who share an interest in an organisation. Our key stakeholders are: members, customers, employees, suppliers, Government and regulators and partner organisations (e.g. non-governmental organisations and the community) |
| Socially Responsible Investment |
Combines financial objectives with the consideration of social, environmental and ethical issues |
| Sustainability |
The capacity for continuance in the long term: balancing economic and social needs and wants without compromising the needs of future generations |
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| Transparency |
The way decisions are made and organisations managed may be considered transparent when they are clear, easy to understand and open to public scrutiny |
| Travel Plans |
An integrated approach to looking at how people use transport. They typically include initiatives to encourage healthier travel on foot or bicycle and energy efficient public transport |
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| Values |
A set of principles including fairness, integrity and honesty |