IFCI Limited
Climate Impact & Sustainability Data (2020-21, 2022-23)
Reporting Period: 2020-21
Environmental Metrics
ESG Focus Areas
- Business Ethics/Transparency and Accountability
- Product/Service Responsibility
- Wellbeing of Employees
- Stakeholder Engagement
- Promote Human Rights
- Respect, protect and restore Environment
- Public Policy
- Inclusive growth and equitable development
- Customer Relations
Environmental Achievements
- Installation of LED Lights at its Corporate Office, significantly reducing maintenance and energy costs
Social Achievements
- 90% of employees received safety and skill up-gradation training
- 99.63% of stakeholder complaints were resolved
Governance Achievements
- A Business Responsibility Committee was formed and met once during the financial year
Climate Goals & Targets
Environmental Challenges
- IFCI, being an NBFC, has limited applicability to certain principles (e.g., Principle 2 on Product/Service Responsibility)
- Negative average net profit for the preceding 3 years, resulting in no mandatory CSR allocation
Mitigation Strategies
- Despite negative profits, ₹15.25 Lakh was allocated to the PM Cares Fund due to the COVID-19 pandemic
- The company strives to follow applicable directions/guidelines provided by the Government of India
Supply Chain Management
Responsible Procurement
- Centralised Procurement Policy (CPP) in line with Government of India guidelines
- Use of GeM portal and CPP Portal
- MSME clause incorporated in RFPs
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: NVGs (National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business)
Sustainable Products & Innovation
- Financial products for renewable energy projects
Reporting Period: 2022-23
Environmental Metrics
Total Energy Consumption:2359809.37 kwh
Water Consumption:373 KL
ESG Focus Areas
- Business Ethics and Governance
- Compliance
- Data Security
- Transparency & Disclosures
- Employee Welfare
- Digitization
- Environmental Sustainability
- Social Impact
- Human Rights
Environmental Achievements
- Corporate Office recognized as Green Building by IGBC, resulting in 5-10% reduction in water and energy consumption.
Social Achievements
- Implementation of a three-stage Grievance Redressal Policy for employees.
- 92% of SC, 100% of ST, and 78% of OBC employees covered in training programs.
- Accessibility improvements for differently-abled employees and visitors.
Governance Achievements
- Implementation of a vigilance mechanism, Fair Practice Code, and Whistle Blower Policy.
- Regular review of NGRBCs by the Business Responsibility Reporting Committee of Directors.
Climate Goals & Targets
Environmental Challenges
- Limited applicability of NGRBC principles due to IFCI being an NBFC.
- Data security risks due to increasing data dependence.
Mitigation Strategies
- Following applicable directions/guidelines provided by the Government of India.
- Maintaining a strong policy on data security.
Supply Chain Management
Responsible Procurement
- Centralized Procurement Policy, revised in November 2022.
- Utilization of GeM and CPP Portal.