Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Used Lenza Green paper for Annual Reports, made from 100% recycled pulp, certified FSC

Social Achievements

• Invested over Rs 34 Million on training and professional development; Worked on over 100 social projects, spending over Rs 10 Million and touching over 25,000 children

Governance Achievements

• High standards of corporate governance; Board accountability to shareholders; Compliance with the Code of Corporate Governance (with some exceptions noted in the report)

Climate Goals & Targets

Environmental Challenges

• Slowdown in construction industry; Decline in global tuna prices; Increased defaults in Leasing business; Currency volatility; Shift to Asian offshore centers for offshore business volumes with India; Sourcing issues and current oil prices in Gabon

Mitigation Strategies

• Prudent provisioning in sectors where clients faced difficulties; Merger of Thon des Mascareignes (TDM) and Princes Tuna (Mauritius) Ltd; Targeting niche areas, acquiring a competitor and creating synergies in Engineering Sector; Extending footprint in Africa; Optimising balance sheet with stronger inventory management, timely debt collection and hedging against foreign currency risk; Implementing new ERP system; Investing in new initiatives internationally

Supply Chain Management

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GML “Think Green” initiative

Certifications: FSC (Forest Stewardship Council)

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Manser Saxon Dubai recognised as one of the top 10 Interior Fit-Outs companies in UAE

Environmental Metrics

ESG Focus Areas

• Sustainability
• Community Development
• Education
• Health
• Environment

Environmental Achievements

• Reduced plastic in Crystal-branded water bottles by 18%
• Rehabilitated the dry river at Phoenix in Mauritius
• Invested Rs 130m annually in recovering and recycling plastic bottles
• Restored 2.7 hectares of endemic forest between 2012 and 2017
• LUX* achieved -22% reduction in energy intensity against baseline

Social Achievements

• Launched the “IBL Together” culture initiative
• Implemented a three-year Human Capital Plan
• Supported the Fondation Joseph Lagesse's poverty reduction programs
• Provided meals and after-school care to children in Bois Marchand
• Sponsored IBL On The Move 2017, raising funds for Breast Cancer Care

Governance Achievements

• Appointed two independent female Directors to the Board
• Reviewed and amended the Group’s Governance Charter and annexes
• Reviewed the Group’s Code of Ethics to align with IBL’s Values and international standards
• Implemented a new Performance Management System (PMS)
• Established a remuneration framework for management roles

Climate Goals & Targets

Environmental Challenges

• Challenges facing the Mauritian sugar industry (removal of sugar quotas, rising production costs)
• Mismatch and shortage of skills in the construction industry
• Competition in the retail and insurance sectors
• Market conditions for industrial supply due to the decline of print-related products
• Sustainability of tuna stocks in the Indian Ocean

Mitigation Strategies

• Alteo's diversification strategy (geographical, products, by-products)
• Manser Saxon's participation in the National Skills Development Programme
• Winner's focus on improving service levels, implementing a new ERP, and controlling costs
• MEI's internal restructure to improve operational efficiency and control costs
• IBL's lobbying efforts to ensure a constant supply of fish and sustainable tuna stocks

Supply Chain Management

Responsible Procurement

• Working with suppliers on price-reduction campaigns
• Securing support from suppliers on price-reduction campaigns

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Mauritius’ national CSR framework

Certifications: Travelife Gold Certification (LUX*)

Sustainable Products & Innovation

• Eco-Twist water bottles
• Smart Blocks building blocks

Environmental Metrics

ESG Focus Areas

• Climate Change
• Renewable Energy
• Waste Reduction
• Responsible Production and Consumption
• Gender Equality
• Employee Well-being
• Ethical Business Practices
• Community Development

Environmental Achievements

• Reduced diesel consumption at LUX* South Ari Atoll and Ile des Deux Cocos through solar energy installations.
• 121,848 tCO2e offset since 2013, with 32.5% invested in carbon-offsetting projects.
• 2.3 tons of waste collected from Caudan harbor.
• 931 kg of food saved from landfill through partnership with FoodWise.

Social Achievements

• 53% women in the Corporate Centre.
• 55% women in upper management.
• Two women on IBL's Board of Directors.
• Implementation of Flexitime & Work from Home.
• Wellness week initiatives.
• Support for 10 organizations through Fondation Joseph Lagesse.
• Implementation of 19 initiatives through Projets Sourire, reaching 917 children.

Governance Achievements

• Adoption of the New Code of Good Governance.
• Implementation of IBL Code of Business Ethics.
• Approval of Group anti-corruption policy.
• Establishment of three specialized sub-committees (Corporate Governance Committee, Audit & Risk Committee, and Strategic Committee).

Climate Goals & Targets

Environmental Challenges

• Dependency on fossil fuels.
• Waste management limitations due to local system constraints.
• Reduced CSR funds due to changes in legislation.
• Need for improved data collection on gender equality.

Mitigation Strategies

• Investment in renewable energy projects (solar, kite-powered energy).
• Energy efficiency improvements in Winner's supermarkets and IBL operational sites.
• Partnership with Gunter Pauli and ZERI for Blue Economy initiatives.
• Waste reduction programs in various companies (Winner's, Phoenix Bev, Logidis).
• Collaboration with Regen Project for responsible waste management.
• Implementation of a Data Protection Awareness and Compliance program.
• Conducting a Gap Analysis to identify areas for improvement in gender equality.

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities

• Development of renewable energy projects

Reporting Standards

Frameworks Used: GRI Standards, UN Global Compact Ten Principles

Certifications: ISO 14001 (PhoenixBev)

UN Sustainable Development Goals

• SDG 4
• SDG 7
• SDG 8
• SDG 9
• SDG 10
• SDG 11
• SDG 12
• SDG 13

Various initiatives contribute to these goals as detailed in the report.

Sustainable Products & Innovation

• Eco-friendly detergent from orange peels

Environmental Metrics

ESG Focus Areas

• Sustainability
• Digital Transformation
• Human Capital
• Community Support

Environmental Achievements

• Created IBL Energy to capitalize on renewable energy opportunities
• Actively developing circular economy business models

Social Achievements

• Launched two specialized Covid-19 testing centers
• Developed an online HealthBot to identify potential Covid-19 cases
• Created a fund to assist IBL team members affected by the crisis
• IBL Operations pivoted to provide essential services and support national strategies to contain Covid-19
• Fondation Joseph Lagesse donated food and essential items to front-liners and those most at risk
• Maintained employment for all hotel staff despite low revenue

Governance Achievements

• Crisis Committee consisting of executives from across various teams met weekly to expedite group-wide decisions
• Refreshed Human Capital strategy to strengthen recruitment, onboarding, training and remuneration

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic disrupted supply chains and affected various business clusters (Hospitality & Services, Building & Engineering, Property, air logistics)
• Hotel booking cancellations
• Border closures and lockdowns in Mauritius
• Decline in sales to foreigners
• Disruptions to imports and exports
• Inclusion on the EU blacklist and FATF grey list

Mitigation Strategies

• Modelled various scenarios to assess the potential impact of the virus
• Reassessed risks and reviewed business continuity plans
• Reinforced Safety & Health measures and expanded flexible working and Work-from-Home policies
• Triggered crisis management procedures
• Conserved cash and limited overheads (management pay cuts, staff benefit reductions)
• Centralized forex management
• Monitored operational budgets and working capital
• Engaged with banking partners and the Mauritian Government for support
• Reorganized activities to continue providing essential services
• Adopted new ways of working across various operations
• Developed new commercial offers and targeted domestic markets for hotels

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, UN Sustainable Development Goals

Environmental Metrics

ESG Focus Areas

• Sustainability
• Human Capital
• Technology & Transformation
• Governance

Environmental Achievements

• Reduced CO2 emissions by 12,500 metric tonnes per year through waste-to-energy initiatives at IBL Seafood.
• Construction of a waste-to-value plant at IBL Seafood to treat effluent and convert it into energy.

Social Achievements

• Implemented enhanced safety and health protocols, including a vaccination program, for employees during the COVID-19 pandemic.
• Provided wellness-related support to employees (psychologist services).
• Supported vulnerable families in the community through food distribution programs.
• Launched a free vaccination program for frontline staff members, widening access to all other members of staff.

Governance Achievements

• Created and approved an IT Governance Committee Charter.
• Approved a revised Conflict of Interest and Related Party Policy.
• Continued to deliver on its human capital strategy, including harmonising the Group’s Human Capital Approach and strengthening succession planning.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on various businesses, particularly hospitality, aviation, and property.
• Supply chain disruptions due to the pandemic.
• Lack of foreign currency on the local market.
• Rising cybersecurity threats.
• Market concentration in Mauritius.
• Vulnerability of supply chains.
• Depreciation of the Mauritian rupee and commodity price hikes.

Mitigation Strategies

• Sectoral and geographical diversification.
• Careful cost and capital expenditure management.
• Investment in strategic growth areas (renewable energy, healthcare).
• Business continuity plans and safety protocols.
• Accelerated digital transformation.
• Group forex conversion policy.
• Strict cash flow measures.
• Hedging strategies.
• Strengthening Eastern African presence.
• New IT governance framework.
• Enhanced cybersecurity controls.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Ethical business practices
• Transparent tendering processes
• Timely payment and fair terms

Climate-Related Risks & Opportunities

Physical Risks

• Climate change events and natural disasters

Transition Risks

• Not disclosed

Opportunities

• Renewable energy investments

Reporting Standards

Frameworks Used: International Integrated Reporting Council (IIRC)’s Integrated Reporting Framework, International Financial Reporting Standards (IFRS), United Nations Sustainable Development Goals (SDGs), UN Global Compact

Certifications: ISO 17025 (Drymix laboratory)

Third-party Assurance: Ernst & Young

UN Sustainable Development Goals

• Not disclosed

IBL seeks to identify how its business impacts and is driven by the United Nations Sustainable Development Goals (SDGs).

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Sustainability
• Climate Change
• Social Inclusion
• Governance

Environmental Achievements

• Launched Energie des Mascareignes, a biogas plant, to reduce seafood processing plant’s carbon emissions by 80%
• Installed the world’s first fully autonomous high-altitude wind energy system in Mauritius
• Alteo adopted a zero-coal policy for all upcoming projects
• Winners implemented energy-saving devices in its new Victoria Urban Terminal outlet

Social Achievements

• Launched Life Together, a new life sciences and health brand with a focus on humane healthcare
• Increased stake in La Clinique Bon Pasteur and acquired NovaLAB to strengthen clinical R&D activities
• Winners reaffirmed commitment to sustainability and community with new identity and pilot store
• Fondation Joseph Lagesse continued efforts to reduce poverty sustainably in communities

Governance Achievements

• New Risk Appetite Statement approved by the Board, aligned with IBL’s strategy
• Welcomed two new Independent Non-Executive Directors, George Desvaux and William Egbe
• Implemented an Information Technology Governance Framework

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to the pandemic and the war in Ukraine
• Inflationary pressures and rising costs of raw materials, food, fuel, and commodities
• Shortage of foreign currency on the local market
• Climate change and extreme weather events
• Depletion of wild tuna stocks
• Labor shortages in the tourism sector
• Cybersecurity threats

Mitigation Strategies

• Diversification of activities and income sources
• Strict cost management and balance sheet management
• Forex conversion policy and hedging strategies
• Digitalisation for operational efficiency and cost savings
• More rigorous stock management
• Restructuring of certain entities
• Development of alternative sourcing strategies
• Disaster recovery plans
• Investment in renewable energy and healthcare
• Sustainable Tuna Association
• Cybersecurity strategy

Supply Chain Management

Responsible Procurement

• ESG clauses in supplier and customer contracts

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events, flash floods

Opportunities

• Development of renewable energy projects

Reporting Standards

Frameworks Used: International Integrated Reporting Council (IIRC)’s Integrated Reporting Framework, International Financial Reporting Standards (IFRS), Mauritius Companies Act 2001, Financial Reporting Act 2004, UN Global Compact

Third-party Assurance: Ernst & Young

UN Sustainable Development Goals

• Goal 1: No Poverty
• Goal 7: Affordable and Clean Energy
• Goal 8: Decent Work and Economic Growth
• Goal 13: Climate Action

Various initiatives contribute to these goals through poverty reduction programs, renewable energy investments, job creation, and climate action projects.

Sustainable Products & Innovation

• Megablok (reusable construction material)
• Big Bag (recyclable construction material)
• Hydroponic tomatoes
• Fish soluble product for aquaculture and pet food

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity, Equity and Inclusion (DEI)
• Governance
• Human Rights
• Social Inclusion
• Circular Economy
• Responsible Procurement
• Water Stewardship
• Waste Management
• Renewable Energy

Environmental Achievements

• Commissioned a megawatt-scale photovoltaic project in Mauritius.
• More than 40 megawatts under management in East Africa.
• Launched the first Tiny forest of the East at Beau Champ.
• Supported waste management practices through the ‘Resiklé an boté’ campaign.
• Collected e-waste and warm clothes.
• Installed PV panels on its warehouse.
• Obtained LEED certification for building at Moka.
• Used sustainable materials and methods, reducing building waste.
• Used reflective material for waterproofing, aiding towards better temperature control and lower usage of HV AC.
• Recycled cartons, paper, and related items.
• Repurposed an old poultry shed into a healthcare facility.
• 1,949 KG of floating waste recovered from the ocean
• >10MW of renewable energy is being added to the grid

Social Achievements

• Launched GREA T: The IBL Academy, engaging over 500 IBL employees.
• 20 IBL companies obtained the Great Place to Work certification.
• 26,629 meals prepared from 13,000 kg of food surplus and donations in Mauritius.
• Strengthened Employee Wellness Programme, including mental health initiatives.
• 5.5% decrease in accident frequency rates.
• Implemented a Group policy for the employment of casual workers.
• Conducted a major Employee Engagement survey.
• Organised DEI initiatives at the Corporate Office.
• Participated as a pilot company in managing gender-based violence through Business Mauritius.

Governance Achievements

• Established a Corporate Sustainability Committee (CSC).
• Aligned governance practices across all operations.
• Implemented a Group policy for the employment of casual workers.
• Implemented Safety & Health Performance Management System in some BUs.

Climate Goals & Targets

Environmental Challenges

• Persistent global inflation leading to higher interest rates and diminishing purchasing power.
• Rising costs of raw materials, labour and logistics.
• Declining inflation in Mauritius, but still high.
• Depreciation of the Mauritian Rupee against major currencies.
• Political tensions in East Africa.
• Depreciation of the Kenyan Shilling.
• Diminished supply of tuna.
• Cybersecurity threats.
• Talent scarcity.
• Recent policy changes regarding salary adjustments and minimum wage increases in Mauritius.

Mitigation Strategies

• Strategic addressing of debt situation through arbitrage, including divesting from non-aligned investments.
• Improving operational efficiency and good governance.
• Digital transformation and innovation.
• Deploying key personnel across the region to drive business transformations.
• Leveraging IBL’s growth drivers (digital transformation, human talent, innovation, and sustainability).
• Strict cost control and operational excellence.
• Strategic portfolio rebalancing.
• Investing in top-class cybersecurity solutions and user awareness.
• Attractive package and work environment, partnerships with educational institutions, recruitment of foreign talents.
• Strengthening Employer Value Proposition.

Supply Chain Management

Responsible Procurement

• Inclusion of ESG clauses in supplier contracts.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Flooding
• Droughts

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: International Integrated Reporting Council (IIRC)’s Integrated Reporting Framework, IFRS Accounting Standards, Mauritius Companies Act 2001, Financial Reporting Act 2004

Certifications: Great Place to Work

Third-party Assurance: Deloitte

Sustainable Products & Innovation

• Fish soluble from wastewater
• Green building materials

Awards & Recognition

• Family Business of the Year award at the Africa CEO Summit 2024
• Silver Ecovadis award (CIDP Mauritius)
• Gold Ecovadis award (CIDP Brazil)
• Great Place to Work certifications (multiple companies)
• Euromoney Awards 2024 (AfrAsia Bank)