The Co-operative Bank plc (UK) was recognised with the "Best sustainability report 2002" award by the panel of judges at the European Sustainability Reporting Awards hosted by Dutch accountancy association Nivra. 16 European countries participated in the scheme submitting 38 reports. Awards were also granted in the best environmental, first-time and SME report categories.
The judges identified a number of areas in which improvement is necessary in environmental and sustainability reports, such as
* more quantifiable performance indicators to improve credibility;
* enhanced stakeholder involvement throughout the reporting process;
* better balance of the three sustainability elements as information on human rights and economic issues was found to be generally less detailed;
* the large variety in verification statements.
