Corporate Social Responsibility
Environment, Social and Governance
While monitoring the upcoming regulations, efa has not waited on taxonomy to act on ESG. For years, not only it takes measures to reduce its impact on environment but also to ensure a high level of ethics and human rights.
We want efa to be a leader in providing and creating solutions, which contribute to fundamental improvements in the quality of life. That’s why we integrate sustainability principles into our Business processes and company’s life.
The overarching principles that guide our activities are:
For efa, corporate social responsibility (CSR) is about understanding and managing the relationships between our business and the communities, environments, and economies in which we operate. It is also about identifying and supporting the talents and enthusiasm of our staff.
Social and environmental issues affect all industries and impact investment funds as a key source of financing to the economy as a whole. The trend among asset managers is toward incorporating environmental, social responsibility, and governance criteria into their investment strategies. However, are their funds really “green” if their fund administration is not?
efa encourages its employees to identify and limit their impacts on the environment (e.g. work toward better use of natural and energy resources, optimise waste management, etc.).
We strive to increase environmental responsibility and awareness both inside and outside the company. We promote the efficient use of resources, support environmentally friendly technologies, and encourage a behavioural shift towards sustainability.
efa defines sustainable procurement as acquiring goods or services while considering social and environmental factors in addition to financial, technical, and operational factors.
Sustainable procurement contributes to economic performance as it directs attention to the sensible use of products and services purchased, taking into account not only their face value but also the costs and risks created by their usage throughout the life cycle.
efa supports local and global charities active in healthcare, reforestation, and social inclusion.
efa is subject to the supervision of the Luxembourg Financial Sector Supervisory Commission (CSSF) and is compliant with all relevant CSSF circulars relating to information technology and information security.
efa has a dedicated IT Security & Risk Management department that is in charge of identifying, analysing, and managing risks related to information security, IT systems, and IT development projects. This department ensures the consistency of efa’s IT risk management approach and adherence to its corporate security measures and policies in this area.
efa appointed the Head of IT Security & Risk Management as Chief Information Security Officer (CISO).
External auditors review efa processes and produce an ISAE 3402 report. These reports also include a review of information related to security. The ISAE 3402 reports may be provided to selected contractual clients or counterparts on demand.
efa is a signatory to the United Nations Global Compact initiative. Launched in 2000, it is the largest corporate sustainability initiative in the world, with more than 10,500 companies and 3,000 non-business signatories based in over 160 countries. It represents a unique example of cooperation between the business world and the international community as it assembles not only companies but civil society, NGOs, governments, business associations and UN bodies.
Signatories agree to align their operations and strategies with the Ten Principles that cover areas such as human rights, labour, the environment, and anti-corruption.
With its signature, efa tells its clients, partners, and suppliers that it has committed to making a positive impact in the world.
As a signatory, efa completes an annual Communication on Progress report highlighting its progress in working toward the Ten Principles of the UN Global Compact.
For more information about the UN Global Compact, please go to www.unglobalcompact.org.
FFor the fifth year in a row, in 2022 efa’s sustainability management was awarded an EcoVadis gold recognition.
EcoVadis’s methodology is based on international CSR standards, including the Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000 standard.
Categories assessed are:
- Environment: greenhouse gas emissions, consumption of energy, water, commodities (paper), waste, and the impact of financial products on sustainable consumption.
- Social: health and safety of employees, working conditions, social dialogue, career management and training, discrimination, and fundamental human rights.
- Ethics: corruption, anti-competitive practices, and responsible marketing
- Procurement: environmental and social performance of providers
This label ensures our clients that their funds remain sustainable along the value chain. Moreover, efa focuses on high-standard governance and provides detailed KPIs to its clients.
The Principles for Responsible Investment (PRI) are widely recognised as the leading global framework for encouraging positive environmental, social, and governance practices in investment strategies. For efa, becoming a signatory to the PRI is a natural step after joining the UN Global Compact, in which signatories commit to aligning their operations and strategies with ten principles in the areas of human rights, labour, environment, and anti-corruption.
For more information about the PRI, please go to: www.unpri.org