The Charities Aid Foundation has launched its third annual Companies and Communities Awards.
The awards, which aim to recognise companies' records in "corporate community investment" contain two categories for 2006. The effective giving award will reward firms that have a community investment programme that demonstrates strong leadership and impact. The innovation award will showcase programmes at the cutting edge of community investment.
According to CAF's recent Charity Trends 2006 publication, corporate giving rose by 15 per cent in 2004/05, although it did not keep pace with a 31 per cent rise in pre-tax profits.
Russell Prior, director of company services at CAF, said: "As corporate community investment increases, the lessons that we can learn from the award winners will become greater."
The Royal Bank of Scotland won last year's effective giving award. Stephen Moir, head of community investment at the bank, said that as a result of winning "we have been able to highlight our community investment programme to new audiences".