Introduction to Acupay’s ESG Team
As mentioned in our Q4 2021 newsletter, Environmental, Social, and Governance (ESG) issues have become increasingly important to companies and consumers in recent years. Interest in ESG has been growing among regulators as well, particularly involving corporate sustainability reporting. This can be seen with the EU’s Corporate Sustainability Reporting Directive (CSRD) and the U.S. Securities and Exchange Commission (SEC) proposing rules that would require companies to disclose information such as the direct risks posed to a company by climate change and activities that result in greenhouse emissions.
At the end of 2021, Acupay’s Leadership Team agreed on an action plan to focus on addressing ESG issues. The 3 main points of this plan were to ensure:
Top-level commitment: Make the creation and implementation of the ESG program framework an objective for Acupay’s Risk and Compliance Officer
Employee engagement: Create an ESG team and ask employees for feedback so we can support initiatives and causes that matter to them
Transparency and accountability: Create reporting so our employees and customers can see what we are doing and our progress or results.
In January 2022, Acupay created an ESG Team made up of volunteers among its staff, two of whom are members of Acupay’s Leadership Team. The ESG team began meeting to brainstorm ideas for initiatives. The team was asked to vote on the ideas they were most interested in pursuing with the top ideas being submitted to Acupay’s Leadership Team for approval.
For 2022, Acupay’s ESG Team will be focusing its efforts on the following initiatives:
Creating ESG reporting, including at least an annual report
Developing internal policy concerning sustainability
Engaging staff by holding company eco-challenges
Organizing volunteering efforts in our communities
Organizing groups to participate in fundraising events
Promoting active learning and sharing of ESG knowledge
Acupay’s ESG Team plans on publishing a report showing the progress toward and results from these initiatives at the end of 2022 and making it publicly available in early 2023. If you have any questions, please feel free to contact compliance@acupay.com for more information.