It was awarded the prize after the panel of independent judges voted unanimously to recognise the firm’s commitment to Corporate Social Responsibility throughout the whole of its business plan.

Not only has Marks & Spencer been ranked number one by Greenpeace on non-GM foods, given the title of top retailer by Friends of the Earth on pesticide reduction and topped the Marine Conservation Society’s list for fish sourcing, but it has also been committed to raising labour standards, both within its own organisation and through its supply chain.

Julia Cleverdon CBE, CVO, chief executive of Business in the Community said: “We are delighted that Marks & Spencer has been declared to be our Company of the Year 2004. Its commitment to integrating responsible business practice through its business, and working collaboratively with other businesses to tackle disadvantage has built trust from employees, customers and communities. Corporate Responsibility is not a passport to paradise nor a guarantee of business success but increasingly essential luggage for the journey.”

The company was presented with the award by HRH, the Prince of Wales at a special award ceremony at the Royal Albert Hall, hosted by Carillion plc, winner of Company of the Year 2003.