Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corruption and bribery
• Information management
• Transparency
• Corporate culture
• Working conditions of employees
• Equal treatment and opportunities for all
• Community involvement
• Climate change mitigation
• Energy

Environmental Achievements

• Completed a carbon inventory exercise to estimate the group’s emissions footprint; identified four key areas representing over 80% of the group’s emissions: remote working, procurement, employee commuting, and purchased energy.
• Employee-led initiatives to control waste, educate colleagues, and promote ‘Tree per Client’ programmes.

Social Achievements

• Launched the ‘Flawless Service’ campaign to promote service excellence standards, including three service excellence behaviours (Accountable, Proactive, and Thoughtful).
• Improved voluntary attrition from 18% to 14%, and colleague engagement improved to 71% (2022: 69%).
• Increased internal promotion rates from 31% in 2022 to 45% in 2023.
• Launched a new partnership with Bridge for Billions, utilizing employee expertise in mentor relationships with social entrepreneurs.
• Deployed €55,000 of group investment and €12,500 of colleague fundraising in 11 group-sponsored local initiatives.

Governance Achievements

• Launched a subcommittee of the Supervisory Board and established a steering group to steer CSRD compliance and sustainability efforts.
• Maintained mandatory training for all employees on critical topics (such as bribery and corruption); training completion rates are centrally monitored.
• Set careful controls on client acceptance, implemented central initiatives to enhance controls over key business risks, and maintained a transparent dialogue with regulators.

Climate Goals & Targets

Environmental Challenges

• Attracting and retaining talent
• Successfully integrating new businesses
• Changing market dynamics and regulation
• Onboarding and monitoring clients
• Compliance with laws and regulations
• Satisfying client requirements
• Trade protectionism/geopolitical factors
• Technology innovation risk
• Information security management
• Reliance on third parties
• Exchange control restrictions
• Foreign currency exchange risk
• Interest rate risk
• Accounting estimate risk
• Data privacy
• Compliance
• Legal claims

Mitigation Strategies

• Implemented One TMF program with colleague engagement as a KPI; invested in employee value proposition, performance management, and personal development; utilized regional delivery centers.
• Established a merger and acquisition team and an integration team; carefully selected businesses for cultural fit and integration support.
• Dedicated specialized teams to monitor and analyze regulatory and competitive landscapes; developed and marketed new products; invested in risk management infrastructure.
• Implemented a robust regulatory compliance framework, including KYC and AML/FT requirements; performed ongoing client screening and mandate reassessment.
• Established a Group Risk and Compliance Function and a Global Legal Function; proactively shared regulatory changes through training programs.
• Maintained a diversified client base; emphasized client care; implemented an event-driven system for monitoring client satisfaction.
• Monitored competitive landscapes; published the Global Business Complexity Index.
• Implemented a digital strategy; invested in technology; automated processes.
• Implemented an IT security and data protection framework; achieved ISO/IEC 27001:2013 accreditation in 111 offices; provided annual awareness training.
• Performed due diligence on all potential partners.
• Regularly repatriated cash; maintained specified levels of local liquidity.
• Managed currency exposure by limiting net assets in foreign operations; invoiced revenue in local currency.
• Mitigated interest rate volatility through hedging; held derivative financial instruments.
• Maintained an experienced group finance team; reviewed estimates and assumptions on an ongoing basis.
• Implemented a robust data protection compliance framework, including Binding Corporate Rules; provided global communication and mandatory training.
• Implemented a robust regulatory and operational control framework, including a Code of Conduct; maintained a ‘zero tolerance’ regime for breaches.
• Established a Global Legal function; implemented compliance and operating policies; maintained strict reporting and management procedures.

Supply Chain Management

Responsible Procurement

• TMF Group Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: CSRD

Certifications: ISAE 3402 (Payroll, IT, and Fund Services), ISO 27001

Sustainable Products & Innovation

• ESG Administration Services

Awards & Recognition

• Ecovadis Silver Medal (since 2021)

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Geopolitical instability impacting trade and investment.
• High energy prices, supply chain disruptions, and trade barriers.
• Difficulty attracting and retaining talent due to high costs, skilled worker shortages, and economic uncertainty.
• Complex regulatory compliance reporting requirements.

Mitigation Strategies

• Outsourcing to manage economic challenges with flexibility.
• Engaging local experts to stay informed of changes and navigate regulatory complexities.
• Digitalization of processes to improve efficiency and reduce bureaucracy.
• Initiatives to attract FDI by easing access restrictions and improving regulatory clarity.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed