Evaco Group
Climate Impact & Sustainability Data (Oct 2023)
Reporting Period: Oct 2023
Environmental Metrics
Renewable Energy Share:0%
ESG Focus Areas
- Environmental Risk Management
- Renewable Energy Transition
- Health & Safety
- Governance Practices
- Human Capital Management
- Consumer Protection
Environmental Achievements
- Reduced energy and water consumption compared to the previous year.
- Plans to offset 100% of conventional energy by renewable energy for its headquarters and factory by 2025.
- Target to achieve net zero emissions by 2050.
- Incorporating EDGE-certified projects.
Social Achievements
- Implementation of health & safety policies and management plan.
- Commitment to product safety and quality with a dedicated division for multiservice activities.
- Third-party verifications of facilities.
- Development of the "FastPay" app for easy hiring and flexible work opportunities.
Governance Achievements
- Implementation of effective governance practices, including a majority of non-executive directors on the board.
- Well-established system to counter corruption and bribery.
- Adoption of key policies such as whistle-blower and code of conduct.
- Increased efforts to improve ESG oversight with proactive disclosures on ESG performance areas and alignment with UN SDGs.
Climate Goals & Targets
Long-term Goals:
- Achieve net zero emissions by 2050.
Medium-term Goals:
- Replace all company cars with hybrid or electric vehicles by 2030.
Short-term Goals:
- Reduce dependence on national water supplier by 30% for HO and factory by 2025.
- Offset 100% of conventional energy by renewable energy for HO and factory by 2025.
- Develop 418,097 m2 of Green Certified housing projects in the next 10 years.
Environmental Challenges
- Highly aspirational net-zero targets lacking a specific roadmap.
- Renewable energy targets currently not part of operations.
- High employee turnover rate (49%).
- Lack of diversity improvement plans and undisclosed average male-female salary.
- Lack of disclosures related to board pay, including CEO’s annual compensation, employee median pay, and severance payouts for the CEO.
- Absence of Scope 3 emission reduction targets.
- Lack of a consumer protection policy (in development).
Mitigation Strategies
- Developing clear strategies and action plans to achieve net-zero by 2050.
- Working on defining a strategy and action plans for renewable energy integration.
- Implementing initiatives to improve gender diversity.
- Improving disclosures related to board pay and compensation.
- Setting targets for emission reduction.
- Developing a consumer protection policy.
Supply Chain Management
Responsible Procurement
- Code of conduct extended to suppliers.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UN SDGs