The B Team is pleased to announce that Pearson, RELX and Total are joining the growing group of companies endorsing The B Team Responsible Tax Principles.
These companies have committed to driving fairer, more sustainable tax systems and to leading by example through the adoption of responsible tax practice. With their endorsement, Pearson, RELX and Total recognise the crucial role that the private sector plays in the global tax system, and the importance of tax to the sustainable development of societies in which they operate around the world.
“Tax is an essential part of business responsibility. A sustainable approach to tax is an important and longstanding commitment of our Group,” Patrick Pouyanné, Chairman and CEO of Total said, “Publicly endorsing The B Team’s Responsible Tax Principles is a step further in our effort to promote a global responsible tax environment and drive best practices.”
Pearson, RELX and Total are the latest companies to join a growing movement toward responsible tax practice that is gaining momentum. Nine companies including Allianz, Shell and Vodafone endorsed The B Team Responsible Tax Principles on their launch in 2018 and have since been joined by KCB Group PLC, Rio Tinto and Anglo American. With Pearson, RELX and Total’s support, 15 companies have now endorsed the Principles and in doing so have recognised the clear link between responsible tax and rebuilding trust.
Moreover, they acknowledge the importance of demonstrating responsible tax practice at a time of considerable change in the global tax landscape. With globalisation and digitalisation challenging the international tax status quo, it is vital now—more than ever—that companies demonstrate to governments, investors and civil society that they are responsible taxpayers.
“Taxation is an important issue for us and our stakeholders, including our shareholders, governments, customers, suppliers, employees and the broader global communities in which we operate,” Dominic Mathon, Head of Group Tax at RELX said, “Our endorsement of The B Team Responsible Tax Principles is one way in which we can publicly set out our approach to tax and the standards to which we hold ourselves.”
The companies have also joined The B Team’s Responsible Tax Working Group, which brings together the private sector, investors, civil society organisations and international institutions. Responsible tax is a shared endeavour and The B Team is committed to bringing together all relevant stakeholders to promote dialogue, understanding and collaboration on a complex and challenging issue.
“There is no denying that tax is a complex issue, but our approach of transparent reporting of our tax position, helps our stakeholders better understand how Pearson operates,” Jim Marshall, SVP Tax at Pearson commented, “Working with other companies, civil society, investors and international institutions, has been critical to understanding the many perspectives at play and, through The B Team’s Responsible Tax Working Group, we will continue to engage in constructive dialogue and collaboration and aim to improve our own approach.”
The B Team encourages others to follow the leadership example set by Pearson, RELX and Total, and others by endorsing the Responsible Tax Principles. To learn more about The B Team, the Principles and how you can join this movement, see here or contact Ewan Livingston, Cause Strategist, Governance & Transparency, at email@example.com.
About The B Team Responsible Tax Principles
Developed by multinational businesses with input from civil society, investors and representatives from international institutions, The B Team Responsible Tax Principles were launched at the Tax & SDG Conference at the United Nations Headquarters in New York in February 2018. The B Team Responsible Tax Principles represent a new blueprint, designed to raise the bar on how businesses approach tax. They are the first consolidated effort from a group of cross sector, cross regional companies to articulate best practice in seven key areas of tax, from corporate governance to relationships with authorities to transparency.