Insurance services specialist Davies has released its second annual Responsible Business Report which outlines the firm's progress over the past year.
During a launch event in London, global responsible business officer Gillie Fairbrother (pictured above) highlighted Davies' increased investment in sustainability initiatives over the last 12 months, reflecting the company's expanding global operations.
“As our business grows, entering new geographies around the world, so does our responsibility to limit our environmental impact,” Fairbrother said.
She noted that the firm has hired its first ESG and climate analyst to oversee its decarbonisation strategy, which contributed to the positive outcomes detailed in the report.
The report details Davies' 2024 sustainability initiatives and tracks progress against its key pillars: People, Planet, and Purpose. Registered with EcoVadis to monitor its corporate sustainability efforts, Davies reported improvements across all assessed areas.
Highlights include an "exceptional" rating for its ethics policy and a threefold increase in its sustainable procurement score since 2021, leading to an overall rating increase of 11 points for 2024.
The company noted that it also homed in on diversity, equity, and inclusion (DEI) initiatives, introducing a global volunteering policy that allows employees two paid days annually for volunteer activities.
Additionally, Davies launched two Employee Resource Groups (ERGs) in 2024: the Women’s Network, which supports women across the company, and Eco Davies, where employees can promote sustainable practices. Each ERG has a dedicated budget and an online platform for collaboration and updates.
Davies said that its three-tiered ESG strategy outlines specific goals in its People, Planet, and Purpose categories. The "People" pillar includes efforts to promote diversity, equitable pay practices, and charitable work through The Davies Foundation.
"Planet" focuses on environmental sustainability, with the firm aiming to cut emissions by 50% by 2030 and achieve carbon net-zero by 2050. The "Purpose" pillar prioritises governance, ethical business practices, client satisfaction, and data security.
Fairbrother highlighted the impact of the firm's global workforce, which includes over 8,500 employees.
“Our ‘People, Planet, Purpose’ strategy aims to empower our communities and help lead change in our industry and beyond,” she said.
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