FourNet wins Palatine award for social value impact

Manchester-based technology company FourNet has reported sharp improvements in its environmental, social and governance performance over the past year and has been recognised by investor Palatine with a new award for social value leadership.

The customer experience and digital transformation specialist has published its latest Responsible Business Report for 2024-2025. The report details year-on-year cuts in carbon emissions, expanded social value initiatives and changes in governance and procurement practices.

FourNet said it generated £2,660,194 in social value during the reporting period. The figure relates to employment, training, charitable volunteering and community partnerships.

Equity investor Palatine has selected FourNet as the first winner of its Leadership in Social Value award. The investor based its decision on the company's focus on social impact and governance outcomes that match customer expectations.

"FourNet has gone beyond compliance to create measurable impact, demonstrating that responsible business can be a competitive strength. Their focus on measurable social value, ethical governance and sustainability places them among the top performers in our portfolio and the wider industry.

"Our Leadership in Social Value Award reflects both FourNet's progress to date and the ambitious path that it is on as a business," said Stephanie Wall, Senior Sustainability Director, Palatine Private Equity.

The company already ranks in the top 7% of firms worldwide on sustainability performance according to EcoVadis, which assesses environmental, labour, ethics and procurement practices across global supply chains.

EcoVadis has given FourNet a score of 72 out of 100 for 2024. The rating is higher than 93% of all companies it assessed over the period and sits well above the global ICT sector average score of 49.87.

Carbon reductions

FourNet said its operational carbon emissions fell again during the year. The company reported reductions across Scope 1, Scope 2 and Scope 3 emissions. It has set a long-term target of reaching net zero by 2050.

The Responsible Business Report outlines how the business has aligned its approach more closely with the UN Sustainable Development Goals and the UN Global Compact. It also sets out changes in governance that include sustainable procurement measures, business ethics policies and a wider framework for social and community value.

The report was compiled in line with Global Reporting Initiative principles. It was reviewed by Collins McHugh CSR, which holds AA1000AS accreditation for assurance of non-financial reporting.

Social impact focus

FourNet works with customers in UK central and local government, critical national infrastructure and the private sector. The company said responsible business practices now sit within every project, partnership and outcome.

Chief Executive Richard Pennington said responsible decision-making runs across investment, employment, supply chain and delivery choices.

"From our investors to our employees, from every supplier choice we make to every project we deliver, we believe in making responsible business decisions. We are committed to minimising not just our own but also our customers' environmental impact, making the right decisions for now and for the future.

"It's also extremely important to FourNet that our social impact is aligned to our business principles. To take just two initiatives as an example, addressing the digital divide and helping the vulnerable avoid cybercrime, are simply extensions of our business priorities," said Pennington.

The company has expanded its use of volunteering and community initiatives over the past year. Activities include staff involvement with local organisations and programmes aimed at improving digital inclusion and awareness of online risks.

FourNet said it would continue to track carbon, social value and governance metrics against its long-term sustainability and net zero goals.