Socially responsible investors in the US have produced guidelines
advising large retailers on reducing the undesirable social and
environmental effects of ‘big box’ megastores.
The guidelines, issued by Christian Brothers Investment Services and
Domini Social Investments, say retailers should disclose their siting
policies, carry out risk assessments, consult with affected communities
in advance, and respect the spirit of planning laws.
Adam Kanzer, Domini’s director of shareholder advocacy, said:
‘Companies have damaged their relations with communities by
contributing to urban sprawl. But these problems can be avoided, which
is why we’ve drawn up these guidelines.’
Apart from reputation damage, retailers may increasingly need to
consider the issue to avoid legislation. The city of New York is
looking at a law to force retailers to undergo a licensing review prior
to building new stores.
The guidelines feature best practice examples, such as Home Depot’s
plans to open a store in Placerville, California, which the company has
agreed to site in a central regeneration area rather than on the edge
of town. It will also landscape it with native plants and design the
facade to blend in with local buildings.
Pressure on retailers is also increasing in the UK, where the New
Economics Foundation think-tank has urged regulation to restrict the
growth of big box stores, which it partly blames for the increasing
homogenization of British town centres.
In its Clone Town Britain study, it calls on the government to submit
retailers to an ‘economic and community impact review’ if they wish to
build big stores.
