The B Team is pleased to announce that Nestlé has today formally endorsed its Responsible Tax Principles, becoming the 29th company to do so.

At the heart of Nestlé’s approach to sustainability is the concept of Creating Shared Value, basing its business approach on decisions that are good not just for the company and its shareholders, but for society and the planet as well. The company’s endorsement of the Responsible Tax Principles signals that this commitment extends to its approach to tax.

Nestlé’s tax management is guided by a set of ten principles, as well as four foundations for its long-term group tax strategy. The principles apply to and are monitored across the company’s operations around the world. These principles reflect a recognition that tax is an integral element of Nestlé’s Creating Shared Value approach, as well as supporting the fundamental objective of tax compliance and of responsible and sustainable planning.

Explaining the company’s decision to formally endorse the Principles, James Parent, Head of Group Tax Nestlé SA, cited the importance of dialogue with both company peers and wider stakeholders:

“Nestlé’s tax principles are well established, and the company has a longstanding commitment to responsible tax practice. But there is no room for complacency - we strive to continually evolve our tax practices in line with our leading peers, guided by the principles of transparency and accountability. The B Team’s Responsible Tax Working Group provides a platform for dialogue, learning, and the sharing of best practices, which will support the company as it evolves and strengthens its commitment to creating shared value.”

The B Team encourages others to follow the leadership example set by Nestlé 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 email ResponsibleTax@bteam.org.

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 are intended as a 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.