Environmental,
Social and Corporate Governance
We uphold a set of standards that have inspired us.
And we hope that our actions and our words inspire those around us.
Our environmental and social governance begins with the decisions we make at strategic and policy level.
We are committed to:
Comply with all relevant environmental legislation and best practice in the countries we operate in
Lower the direct environmental effect of our activities
Promote carpooling, use of public transport, and centrally-located office space
Provide the infrastructure necessary to encourage working from home to reduce commuting impact
Facilitate payment services and offer favourable terms to entities that uphold a responsible ESG policy
Support entities that actively promote environmental awareness or that take direct action to solve or mitigate environmental issues
Provide training and engagement opportunities for our people in sustainability leadership and responsibility
Share our sustainability strategy and Key Targets and Goals with all key stakeholder groups, communicate our environmental performance to our employees and other significant stakeholders and publish our progress annually.
Require all suppliers to adhere to our Code of Conduct and maintain high levels of environmental and ethical performance
Obtain third party assurance annually on carbon emissions and other material environmental performance metrics
Environmental, Social and Governance
(ESG) Policy
Introduction
Uncontrolled Development and Climate change represents an urgent and potentially irreversible threat to human societies and the planet, a threat recognised by the 184 countries that have signed the 2015 Paris Agreement on climate change. Climate change is not a world problem but indeed, its everyone’s problem.
At Finance Incorporated we have decided to make it our problem and whilst our efforts may be small in comparison to magnate operators we believe that the little drops will in time carve the stone and leave the desired impact where other operators will acknowledge and join this commitment.
This statement summarises how Finance Incorporated approaches sustainability and climate change, capturing the main initiatives it is taking.
Background
The Intergovernmental Panel on Climate Change (IPCC), a body set up by 195 members of the United Nations to provide rigorous and balanced scientific information on climate change, confirms that the climate system is warming up. The IPCC concludes that the period from 1983 to 2012 was probably the warmest 30-year period over the last 1400 years. Average global temperatures have increased by approximately 0.85°C between 1880 and 2012.
Scientists differ in their forecasts and impact of climate change however they all agree that it is happening and acknowledge the dangerous consequences. There has already been an increase in the frequency of extreme events such as heatwaves, wildfires, droughts, and floods, as well as rises in sea levels and the retreat of glaciers. In Malta, the seasons are merging into two a typical long summer followed by a mild short winter. The overlapping seasons of Spring and Autumn are becoming shorter every year.
These changes have had adverse impacts on human health, wildlife, plants, crop yields, food security and water availability. Whilst the impact varies across different countries, the consequences are serious. Undoubtedly the heaviest burden will be borne by the world’s poorest people. Greenhouse gases are extremely likely to have been the main cause of global warming since the middle of the last century. The largest emissions come from the burning of fossil fuels, particularly coal, from agriculture and from deforestation and other changes in land use. Forests also act as a “sink” by soaking up carbon dioxide, a prominent greenhouse gas, and are rich in biodiversity.
These events are a call to action and Finance Incorporated along numerous other companies are working towards taking effective action by endorsing the right culture whilst refusing to work at the detriment to the environment.
Finance Incorporated’s view on this subject
The Businesses, the civil society, communities, and Governments share a common goal and the payments industry is a critical cogwheel in every business. The Payment industry is utilized to finance major business initiatives and the setup of new enterprises, such as the set up of new factories or the deforestation of existing woodlands. The payments industry can influence and drive much awaited green initiatives, such as the set-up of solar or wind farms in the fight against climate change. Governments are crucial in setting long-term, stable policies which support the investment decisions needed in the transition to a low-carbon economy.
Finance Incorporated therefore welcomes the Paris Agreement and will seek to supplement the agreement with the following voluntary actions.
Adaptation
Seek to reduce the impact on the environment by utilizing carbon neutral solutions, recycled materials, and energy efficient solutions. We shall seek to reduce the use of plastic and paper in everything we do.
Payment Solutions
Providing payment solutions which are consistent with a pathway to low greenhouse gas emissions. Whilst we will seek to tighten our Customer onboarding policy and refuse business that has a direct negative impact on the environment.
Moreover, in our correspondences and relations with our existing and potential clients, we would like to inform that, Finance Incorporated is committed to refuse providing services towards any client whose operation falls under the below activities:
Businesses that convert or degrade High Conservation Value (HCV), High Carbon Stock (HCS) forests, or peatlands
Businesses that are involved/profiting from Child labour or forced labour, or violations of human rights
We believe that these activities are against our business ethics and we recognize the negative impact left by these activities on society and on the environment.
Businesses that have operations that adversely impact upon the Outstanding Universal Value of UNESCO World Heritage Sites.
Businesses that have operations located within, or create significant negative impact upon wetlands designated under the Ramsar Convention of Wetlands of International importance.
Businesses that trade or process species listed on the Convention of International Trade in Endangered Species of Wild Fauna and Flora.
Finance Incorporated Prohibited industries list as defined by the ESG policy
Finance Incorporated Ltd will not provide financial services to clients who:
ENERGY & MINING
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Tar sands exploration and/or production activities
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Standalone non-captive thermal coal mining projects
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Arctic exploration and/or production activities
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Asbestos mining operations
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Mining operations that conduct direct marine or riverine tailings disposal
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The manufacture or distribution of nuclear weapons
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Nuclear power plants
AGRICULTURE & MARINE
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New plantations which convert or degrade High Conservation Value (HCV) or High Carbon Stock (HCS) Primary forests, peatlands, or designated legally protected areas
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Operations which use fire for land clearance
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The production, manufacture, or trade of fur
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The production, manufacture, or trade of Angora wool
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Operations that grow, process or trade soy from the Brazilian Amazon or Brazilian Cerrado
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Operations which practice shark finning or trade in shark fin products
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Operations which practice drift net fishing, deep sea bottom trawling or fishing with the use of explosives or cyanide
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Illegal Unreported and Unregulated (IUU) fishing or use of vessels known to have conducted IUU fishing.
