Our ESG
commitment

We believe that acting responsibly and sustainably will help IFGL build a better business whilst having a lasting and positive impact on our staff, our policyholders and the environment.

E


Environmental

Measuring and reducing our impact on the environment, with a view to becoming carbon-neutral and achieving net-zero emissions

S


Social

Aiming to have a positive social impact in the communities in which we operate by promoting diversity, fairness and responsible business conduct

G


Governance

Ensuring we have appropriate governance and decision-making structures in place to mitigate risk and have a positive impact in the locations we operate in

Our ESG scorecard

  • To help us track our ESG goals and remain accountable, we have created a scorecard to track our progress and report on progress on each metric to our Board each quarter. The scorecard is a mix of monitoring initiatives we have already started, and identifying new ESG enterprises.
Environmental
  1. Expand ESG fund range over the next 5 years
  2. Increase Assets under Administration invested in ESG funds
  3. Identify carbon offsetting projects by 31 December 2023
  4. Recalculate IFGL CO2 emissions for 2022 and see how changed since initial assessment. Due end of H1 2023
  5. Engage with IOM Government advisors around ‘Green’ electricity tariff
  6. Maintain and monitor Car Share Scheme
  7. Expand recycling Scheme in all locations by 31 December 2023
  8. Increase usage of electric car charging points in Isle of Man office locations by 31 December 2023
Social
  1. Be a local living wage and hours employer by 31 December 2023
  2. Evaluate and encourage our core suppliers to become local living wage employers, with a view to increase % of suppliers to adopted
  3. Embed the newly combined new Isle of Man based Staff Charity Committee covering all Business Areas and Sites
  4. Support local charities across all offices during 2023
  5. Develop, and extend our succession plans with a view to increasing our leadership diversity across the Group
  6. Staff awareness and communications for each initiative
Governance
  1. Produce annual ESG Report and implement quarterly ESG reporting to the Board
  2. Include material ESG risks in the quarterly Group Risk Director’s Report
  3. Participate in regulatory consultations by specified deadlines
  4. Ensure all relevant Committee Meetings TOR consider any ESG considerations
  5. Proactive and open regulatory engagement at a strategic and operational level

Reducing our carbon footprint

We are keen to reduce our carbon footprint and, where we cannot reduce it, we are making plans to offset it.

In 2021 we carried out a full assessment of IFGL’s Carbon footprint and discovered that, in relative terms, we have a low footprint starting point.

However, we have introduced the following further initiatives in our Isle of Man offices:

  • Electric Vehicle charging points
  • A car-sharing scheme
  • Recycling bins to recycle cans, glass and plastics
  • We are actively exploring a range of other options to help us reduce our footprint. We are also seeking offsetting opportunities for us to mitigate the impact of the carbon we cannot reduce.

Investing for the better

Our clients’ desire to invest in more socially responsible funds is growing and they increasingly want to invest in ways that reflect their view of the world (without sacrificing returns).

That’s why we’ve teamed up with Morningstar to apply the Morningstar Sustainability Rating to every fund we offer, so clients can see exactly how ESG-friendly each investment choice is.

Morningstar
Hands holding basil sprouts

Our ESG fund offering

And, of course, we offer a large and growing range of thematic ESG funds in our RL360 and Friends Provident International defined fund ranges for those who want to invest in ESG specific funds.

Find out more about our ESG fund ranges by visiting either of the links below:




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