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, the environments and the economies in which we operate. It is also about identifying and supporting the talents and enthusiasm of our staff.
Social and environmental issues affect every industries, and that affects 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.: better use of natural and energy resources, waste management, etc.).
We strives 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 behavioral shift towards sustainability.
efa defines Sustainable Procurement as an acquisition of goods or services while considering social and environmental factors as well as financial, technical and operational factors in making procurement decisions.
Sustainable Procurement contributes to economic performance as it needs to pay attention to a sensible use of the products and services purchased and to take into account, not only their face value, but also the costs and risks created by their usage throughout the life cycle.
efa is supporting local and global charity acting 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 or information security.
efa has in place a dedicated IT Security & Risk Management department that is in charge of identifying, analysing and managing IT risks related to information security, IT systems and IT development projects. It ensures the consistency of EFA’s IT risk management approach and the respect of its corporate security measures and policies in this area.
efa appointed the Head of IT Security & Risk Management as Chief Information Security Officer (CISO) in line with the requirements of CSSF Circular 12/552 on Central administration, internal governance and risk management.
Our external auditors review our processes and produce an ISAE 3402 report on a half-yearly basis. This report includes a review of information security aspects as well. The ISAE 3402 report may be provided to selected contractual clients or counterparts on demand.
efa is a signatory of 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 adhere to align their operations and strategies with Ten Principles in the areas of human rights, labor, the environment, and anti-corruption.
With this signature, efa tells its clients, partners and suppliers that it commits to make a positive impact in this world.
As a signatory, efa will complete an annual Communication on Progress rapport 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.
For the fifth year in a row, efa’s engagement has been awarded EcoVadis Gold Recognition level in 2022.
EcoVadis’ methodology is based on international CSR standards, including the Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000.
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, responsible marketing
- Procurement: environmental and societal 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