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I believe that the insurance and long-term savings business fulfils a vital social purpose, protecting people from the financial consequences of risk and helping people plan for their financial futures.
Legal & General takes these responsibilities very seriously. We also work hard to be good corporate citizens in the communities where we are major employers, to reduce our environmental impact and to instil a strong ethical code in all our dealings with customers. We also play our part in wider debates about issues which are relevant to our industry and are widely seen as an active force for good in the way we manage our investments and companies.
Why does this matter? Because customers, employees and investors expect a company of our standing to lead in areas of corporate responsibility and because it helps in building a business which is sustainable over the long term.
In 2008, we saw the high price of irresponsibility in financial markets. That is why we make sure that [CSR] is taken seriously as part of our company's governance process and, indeed, as a component of our board remuneration package.