Wagestream Environment, Social and Governance Policy
October 2019
Background
Environment, Social, and Governance (ESG) are the criteria that altogether establish the framework for assessing the impact of the sustainability and ethical practices of a company on its financial performance and operations.
Environmental Factor
The environmental factor is primarily concerned with the company’s influence on the environment and its ability to mitigate various risks that could harm the environment. Generally, a company is assessed by its use of energy, waste generation, level of the pollution produced, utilization of the resources, and treatment of animals.
Social Factor
The social factor investigates the company’s relationships with other businesses and communities. Social factor considers the attitudes towards diversity, human rights, and consumer protection.
Corporate Governance
Corporate governance is concerned with the internal company’s affairs and the relationships with the main company’s stakeholders, including its employees and the shareholders.
Purpose
This Policy is intended to set out the principles by which Wagestream conducts its business.
Principles
Social
When considering its commercial engagements and establishing strategic partnership employers (Partners and Partnerships), Wagestream shall consider its SOCIAL impact.
Wagestream has a social charter in our articles of association, designed in conjunction with our charity investors. At the forefront of all engagement should be the desire to be a strong cause for social good, in making it possible for workers to gain fast access to accrued earnings and improve financial wellbeing through other product offerings.
Wagestream shall avoid engaging with entities in the following industries or entities:
- that may infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction;
- that provide “payday loans” or High Cost Short Term Credit;
- that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
- entities providing gambling or betting;
- entities engaged in providing obscene or pornographic material
Consider our counterparts compliance with the Modern Slavery Act, supplier code of conduct and the Wagestream anti-slaver and human trafficking statement.
Environmental
Wagestream is a technology-based business, with limited supply chain dependencies and a small environmental footprint. Nevertheless, Wagestream should strive to limit its impact on the environment and embrace sustainable practices where possible.
Our policy is to reduce the impact of the company’s operations on the environment through internal initiatives and training to raise employee awareness, whilst continually assessing and monitoring our environmental impact and performance as a company.
The goal is to promote sustainability and environmental awareness by:
- Complying with all applicable environmental legislation and sustainability commitments
- Measuring and analysing the carbon footprint of our business activities in conjunction with other climate change mitigation and adaptation efforts
- Preventing pollution and reducing consumption of resources through waste management strategies that promote waste minimisation re-use, recovery and recycling, as appropriate
- Incorporating energy efficiency measures into the company’s facilities and promoting efficient energy use in all areas of business activity
- Promoting and continuing to invest in technologies that provide alternatives to business travel
- Adopt a procurement programme which takes into account the environmental impact of products and services and supports the purchase of energy-efficient products
- Ensure our staff are aware of the environmental impacts of their work activities and encourage them through regular awareness and training to minimise those impacts.
Corporate Governance
Wagestream shall strive for honest and cooperative corporate relationships, implementing effective internal governance frameworks and compliance monitoring to ensure risk mitigation and to achieve the highest corporate governance standards.