Climate Change Data

iFAST Corporation Ltd.

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:0
Scope 2 Emissions:167,709.6 kgCO2 (Singapore); 64,522.5 kgCO2 (Hong Kong)
Scope 3 Emissions:110,772.6 kgCO2 (Business Travel, Singapore); 29,015.0 kgCO2 (Business Travel, Hong Kong); 56,184.7 kgCO2 (Purchased Goods and Services, Singapore)
Renewable Energy Share:Not disclosed
Total Energy Consumption:402,374 kWh (Singapore); 277,672 kWh (Hong Kong)
Water Consumption:171.4 CuM (Singapore)
Waste Generated:632.8 kg of electronic waste (Singapore)
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Innovation
  • Cybersecurity
  • Compliance
  • Sustainability

Environmental Achievements

  • Reduced paper usage by 35.7% in 2022 and maintained similar levels in 2023.
  • Reduced total energy consumption in Singapore by 4.7% YoY in 2023.

Social Achievements

  • Launched iFAST Academy investment training for employees.
  • Employee turnover in Singapore reduced to 10.9% in 2023 (from 20% in 2022).

Governance Achievements

  • Remained in the SGX Fast Track Programme, recognizing high corporate governance standards.
  • No major cybersecurity breaches reported in 2023.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Reduce total energy consumption and average energy consumption per employee by 5-10% annually (next 3-5 years).

Environmental Challenges

  • Regulatory risks from non-compliance or changes in ESG/non-ESG regulations.
  • Technological risks from failing to keep up with technological advancements or cybersecurity breaches.
  • Human resource risks from talent acquisition/retention challenges.
  • Economic/market risks from adverse market events or geopolitical risks.
  • ESG risks from inadequate ESG measures or regulatory requirements.
  • Climate/environmental risks (physical and transition risks).
Mitigation Strategies
  • Regular compliance and audit checks, training, and transparency.
  • Monitoring and assessment processes for cybersecurity, service recovery processes, and regular IT security training.
  • Fair employment policies, regular reviews, screenings, and whistle-blowing channels.
  • Product diversification, timely research updates, and due diligence on products.
  • Monitoring of ESG material issues, stakeholder engagement, and regular review of ESG guidelines.
  • Establishing channels to collect and monitor climate-related data, implementing measures to prevent climate-related issues, and due diligence surveys on business partners.

Supply Chain Management

Supplier Audits: >50% of product providers reviewed annually

Responsible Procurement
  • Rigorous due diligence process for onboarding new investment products.

Climate-Related Risks & Opportunities

Physical Risks
  • Increase in frequency for infrastructure maintenance and equipment replacement due to climate-related issues.
Transition Risks
  • Climate change affecting vendors’ provision of products and services.
  • Increasing awareness on climate/ESG bringing about higher scrutiny on product providers.
Opportunities
  • Increasing awareness on climate/ESG may cause investors to be more careful with their choice of investments.
  • Greater awareness of ESG/climate issues bringing about improvements in technologies.

Reporting Standards

Frameworks Used: GRI Standards

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • 1
  • 2
  • 3
  • 4
  • 8
  • 10
  • 13

Company initiatives contribute to these SDGs through its four Core ESG Strategies and CSR pillars.

Sustainable Products & Innovation

  • Digital Personal Banking (DPB) services.

Awards & Recognition

  • iFAST Financial Pte Ltd (Singapore) recognized as a Human Capital Partner under the Human Capital Partnership (HCP) Programme.