Thomson Reuters Media: Improving Business With Information

Thomson Reuters developed a set of “Trust Principles” during WWII. The Principles were created to guide the way the company conducts business in order to relay news in a professional manner.

Posted by Joe Gerard in on June 9th, 2010

Thomson Reuters is responsible for delivering current, accurate information to global decisions makers. Thomson Reuters is consistently recognized for commitments to ethics and social responsibility. Through securing spots on Ethisphere’s World’s Most Ethical Companies, Fortune’s World’s Most Admired Companies and Corporate Knight’s Best Corporate Citizens listings, Thomson Reuters demonstrates a commitment to developing innovative ways to improve business process through the use of information. Thomson Reuters brings information into emerging markets, helping breakdown social barriers.

Reuters Market Light

Thomson Reuters developed a set of “Trust Principles” during WWII. The Principles were created to guide the way the company conducts business- upholding integrity, maintaining independence and remaining free of bias, in order to relay news in a professional manner. Thomson Reuters has developed new ways to deliver media and information to rural communities to advance social needs and encourage better business. In 2007, Reuters Market Light (RML) was introduced to the farming community in India. In a press release from Thomson Reuters, they write:

“Since its launch in 2007, over 200,000 farmers in 15,000 villages across 10 states in India have subscribed to RML. It provides localized and personalized information via SMS text messages on weather, market prices, local and international agriculture and commodity news, and crop advisory tips enabling farmers to make informed decisions, reduce waste and maximize their profits.”

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Previously, access to information in these remote areas was almost nonexistent. This makes it challenging for farmers to achieve success in their business. The information farmers are able to receive since the introduction of Reuters Market Light creates a fairer playing field for competitors, as it offers information about a variety of crops. RML increases transparency within the Indian agricultural community, mirroring the global shift towards transparency within businesses and their operations. Thomson Reuters also reports RML helps the agricultural industry in India save billions of dollars annually as:

“Before RML, farmers had very limited information on current and local market prices for their crops or timely information that would help them decide the best time to harvest their crops. This hindered market efficiency, reduced yields, increased wastage and could severely impact upon a farmer’s earnings and livelihood.”

Thomson Reuters Acquires ASSET4

Near the end of 2009, Thomson Reuters acquired ASSET4, a provider of environmental, social responsibility and governance information and tools for professional investors and corporate executives. Poor decision making impacts the state of the economy, the environment and overall image of a company. Providing businesses with information to help them make better decisions helps mitigate a number of risks faced by companies in the increasingly global business environment.

The CSR Press Release, “Thomson Reuters Invests in Environmental, Social Responsibility and Governance Content Through the Acquisition of ASSET4,” states:

“The global credit crisis, climate change, new regulation and other issues have highlighted the need for financial firms to assess the environmental, social responsibility, governance and reputational risks attached to the firms in which they invest. Through the acquisition of ASSET4’s leading ESG information and tools, Thomson Reuters clients worldwide will benefit from having direct access to this increasingly important information as part of their investment process.”

The importance of this acquisition is that the company can now deliver an extremely comprehensive database of consistent and transparent environmental, social responsibility and governance information to their clients. Thomson Reuters will also be able to provide clients with a wide range of analysis tools, helping them make improved, more informed decisions each day. According to the CSR Press Release, as regulations, consumers and fellow organizations continue to require greater levels of transparency from companies, these tools:

“Allow investors to engage companies, improve investment performance, reduce risk and lower research costs, while corporate executives can reduce risk, enhance corporate governance and increase accountability, transparency and trust.”

FTSE4Good Index

Focusing on compliance with strict environmental and social criteria, companies can be added and removed from this list based on their actions. Thomson Reuters has met the criteria outlined to become listed on the FTSE4Good Index. The index is frequently used as a benchmarking tool, focusing on elements of good corporate citizenship. Companies fulfilling the FTSE4Good Index requirements are considered to be the companies to look to when developing responsible business practices.

Joe Gerard
Joe Gerard

CEO, i-Sight

Spend my days showing off the i-Sight investigative case management software and finding ways to help clients improve their investigations. Usually working with corporate security, HR & employee relations, compliance and legal teams.

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