ESG PRACTICE IN IFP ADVISORS GROUP
Environmental, Social, and Governance (ESG) are three key factors used by investors, businesses, and organizations to assess and measure the sustainability and ethical impact of an investment or business operation. These factors are often considered when making investment decisions, evaluating corporate performance, and assessing a company’s overall impact on society and the environment.
IFP Advisors Group is dedicated in utilizing the ESG framework, which is consistent with our values, to manage the non-financial risk relating to the environmental impact, social responsibility and corporate governance of the group.
Environmental factors focus on a company’s impact on the natural world and its effort to minimize harm to the environment. This includes such as:
- Resource management: How a company manages and conserves natural resources like water and raw materials.
- Climate change: A company’s carbon emissions, energy efficiency, and use of renewable energy sources.
- Pollution and waste: Efforts to reduce pollution, waste production, and responsible disposal practices.
- Biodiversity: Actions taken to protect and preserve biodiversity and ecosystems.
Social factors assess a company’s impact on society, including its employess, customers, communities, and supply chain. Key social considerations include:
- Labor practices: Fair wages, workplace safety, labor rights, and diversity and inclusion.
- Customer relations: Product safety, customer privacy, and fair marketing practices.
- Community engagement: Corporate philanthropy, community development, and support for local initiatives.
- Human rights: Respect for human rights throughout the supply chain.
Governance factors refer to a company’s corporate governance structure, policies, and practices. These factors help ensure accountability, transparency, and ethical behavior within the organization. Key governance aspects include:
- Board composition: The diversity and independence of the board of the directors.
- Executive compensation: Fairness and transparency in executive pay.
- Shareholder rights: Protection of shareholder interests and voting rights.
- Ethics and compliance: The company’s commitment to ethical conduct, including anti-corruption measures and whistleblowing policies.
- Risk management: How the company identifies, assesses, and manage risks.
ESG practiced in our project at De Daun Residence, Ampang Hilir.
- Take a look at the boxes that we gathered after unboxing the custom-made furniture which we fabricated for our client from Yogyakarta. The corrugated boxes were flattened before being sold directly to the recycling centre rather than throwing them away. We save the Mother Earth and convert our trash into a side income for our office maintenance.
ESG applied in our main office.
- Reused water bottles as a feature wall in our courtyard garden.
Reused water bottles as a feature wall and a green wall
ESG Practices Roundtable in Family Businesses with BinaPavo and Sunway University.
- On Monday, September 12, 2022, our company had the privilege of participating in a roundtable meeting at Sunway University. This special program was a collaboration between the university and our esteemed business associate, BinaPavo Sdn. Bhd. As representatives of family business units, we were asked to share our insights on ESG and how we integrate ESG principles into our business operations. It’s important to note that environmental, social, and governance (ESG) considerations have always been an integral part of our business policies and practices, even if we hadn’t formally documented them. For instance, we engage in recycling and promote green practices, provide intern training, participate in NGO activities, and undertake sustainable projects and designs that align with LAM’s Pandemic Design Guidelines. Most importantly, we maintain a firm commitment to ethical business conduct and vehemently reject corrupt practices – “Say No to Rasuah!”
Leading the Way: Integrating ESG into Our Practice for a Sustainable Future
- We demonstrate an anticipatory and proactive approach to ESG. Along with minimizing our adverse effects on the environment, we also hope to leave a small but potentially beneficial environmental footprint.