Transport for London’s approach to sponsorship deals needs to be clearer, more consistent and transparent, according to the Budget and Performance Committee.
Whose brand is it anyway?
20 FEBRUARY 2012
The report recognises sponsorship deals – like those for the cable car and Barclays cycle hire scheme – create an opportunity to bring in extra investment for new transport infrastructure, but highlights the potential ethical and reputational risks to Transport for London (TfL).
The Committee notes there are signs TfL now recognises it got it wrong in the past, having changed its sponsorship policy following criticism of its deal with high interest payday loans company Wonga. A lack of transparency has also fuelled public speculation and criticism of sponsorship deals with Barclays and Emirates.
So Londoners can be confident they are getting the best deal in the future, the report calls on TfL to conduct deals in the open and show it can effectively manage both the benefits and risks of using private sponsorship to fund projects.
Our recommendations:
We want TfL to demonstrate a commitment to a more robust approach, including conducting deals in the open and showing it can effectively manage both the benefits and risks of using private sponsorship to fund projects.
TfL has committed to producing a new single policy, to being clearer in future about the types of companies it is willing to work with and to being more transparent. Our recommendations are intended to inform this new policy before TfL enters into any further arrangements.
Watch a short video about our report:
| Attachment | Size |
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| London Assembly Report TfL Sponsorship Policy 170212.pdf | 242.84 KB |
