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ESG Policy

Introduction

The Amicorp Group (also called the Group) recognizes that global sustainability challenges are critical to society and communities and must be addressed.

As a global financial service provider, the Group collaborates with a diverse range of stakeholders, including our employees and clients, to deliver long-term value. This is achieved by implementing comprehensive risk management policies encompassing environmental and social risks.

Amicorp Group’s Environmental, Social, and Governance Policy Statement is integral to its governance framework and outlines its commitment and approach to identifying and assessing environmental and social risks. Amicorp Group is committed to transparency and enhancing its ESG reporting and disclosure.

1. Approach to Global Sustainability

Amicorp Group sees global sustainability risk as an investment risk, which requires monitoring and mitigation as part of its core values and mission.

The Group’s Board members and officers are responsible for designing and implementing the Group’s sustainability strategy and culture through:

I. Group-wide Sustainability

By Integrating global sustainability considerations into its policies, guidelines, procedures, and business practices and operations.

II. Global Sustainable Services

Partnering with global and local stakeholders to create and provide innovative ESG advice and service solutions.

III. Stakeholder Engagement

The Amicorp Group values its internal and external stakeholders' thoughts, feedback, and insights. It regularly shares information on its global sustainability initiatives and achievements and invites employees to engage on ESG issues. Open communications and constructive dialogue among internal stakeholders are critical to consider different perspectives and diverse ideas in the Group’s approach to global sustainability and its ESG commitments.

IV. Training

Employees and executives are responsible for implementing Amicorp Group’s ESG commitments. To ensure understanding, monitoring, and management of ESG risks and opportunities in our business, Amicorp Academy (the Amicorp Group’s training division) has developed training materials. It conducts training sessions on the Group's ESG commitments embedded in our policies and guidelines relevant to different business functions.

V. Reporting

The Amicorp Group is committed to disclosing information about our ESG risk management, performance, and improvements to stakeholders. The Group publishes ESG information on its website.

VI. ESG Commitment and Contribution

The Group contributes 1% of its net profit towards the Amicorp Community Foundation’s initiatives and 10% of each of its employees’ annual performance review is evaluated on their individual commitments to Social Responsibility. Every employee is an integral part of the broader global community, responsible for contributing to achieving a more sustainable world and the progress of society at large.

2. Environmental

The Group has adopted the IFRS Foundation’s Task Force on Climate-related Financial Disclosures (“TCFD”) and Sustainability Accounting Standards Board (“SASB”) as voluntary frameworks to guide Amicorp Group’s ESG reporting and disclosure.

Through Amicorp Community Foundation, the Amicorp Group plays a pivotal role in positively impacting communities globally through our various projects:

I. Reduce our Carbon Footprint

Our goal is to offset our carbon emissions from business travels through forestry initiatives:

  • In previous years, the Amicorp Group created Chile's “Amiforest” project.
  • In 2024, the Amicorp Group is establishing a Coconut Tree plantation in the Philippines to offset our carbon emissions from travel. This initiative aims to diminish our carbon footprint and mitigate the environmental impact. Additionally, coconut husks, shells, and other byproducts can be utilized as sustainable alternatives to traditional fuels, reducing carbon emissions for energy production.
  • Employees are encouraged to participate in initiatives to reduce business-related travel through video conferencing, carpooling, and other energy-efficient practices.

II. Waste Management

The Amicorp Group adheres to responsible waste disposal under the applicable regulatory framework in each jurisdiction where the Group operates. Employees are encouraged to participate actively in office recycling programs and paper-reducing use, which is enabled by digital transformation. The Amicorp Group donates phased-out furniture to nonprofits and individuals in need.

III. Biodiversity Conservation

The Amicorp Group supports initiatives that contribute to preserving biodiversity and responsible land use practices that minimize the impact on ecosystems.

3. Social

The Amicorp Community Foundation’s current focus is on managing sustainable development and community-related initiatives in Curaçao, Indonesia, and South Africa:

I. Curaçao

The Group’s Tuma Mi Man (“TMM”) daycare center provides high-quality childcare and education at low to no cost to parents with little means. A third of the children at TMM, ranging from infants to twelve years of age, hail from Curaçao’s poorest neighborhoods.

II. Indonesia

The Amisewaka – Desa Les Community Center (“DLCC”) in Bali (Indonesia) delivers vocational and life skill training to young people in the Desa Les village and surrounding areas.

III. South Africa

The Group’s Trees for Schools program launched in February 2024 in the Eastern Cape (South Africa). Through this program, indigenous fruit trees will be planted to improve food security and combat malnutrition in the region.

4. Governance

The Amicorp Group has an ESG governance system in place. The Group’s Board reviews this Policy Statement annually and updates it as needed to reflect the Group’s strategy and critical developments.

In carrying out their duties, the Board members must comply with their duty to act in the way they consider, in good faith, would be most likely to promote the success of the Amicorp Group for the benefit of its members as a whole and in doing so, have regard (among other matters) to:

  1. The likely consequences of any decision in the long term.
  2. The interests of the Amicorp Group’s employees.
  3. The need to foster business relationships with suppliers, customers, and others.
  4. The impact of the Amicorp Group’s operations on the community and the environment.
  5. The desirability of the Amicorp Group to maintain a reputation for a high standard of business conduct.
  6. The need to act fairly between members of the Amicorp Group.

The Amicorp Group Board oversees the Group as a whole. It carries out the following duties for the Group as advised, as appropriate, by the Group risk committee and audit committee:

5. Strategy

I. Oversee and advise the Board on the Group’s strategies, goals, and commitments related to sustainability and ESG to promote the long-term sustainable success of the Group, generating value for shareholders and contributing to wider society. The strategies, goals, and commitments relate to (among other areas of focus):

  • Climate risks and opportunities.
  • The Group’s climate transition plan and waste management and reduction.
  • Biodiversity and nature.
  • Deforestation and land use.
  • Energy efficiency.
  • Resources efficiency.
  • Human rights.
  • Human capital management
  • Health and safety
  • Stakeholder and community engagement
  • Diversity, equity, and inclusion.
  • Business ethics, anti-bribery, and corruption.
  • Conflicts of interest.
  • Anti-money laundering.

II. Ensure that the Group’s sustainability and ESG priorities are reflected in its culture by aligning with the corporate strategy, purpose, values, and codes of conduct.

III. Monitor current trends and developments to identify:

  • Emerging sustainability and ESG risks, applicable laws, rules, regulations, and voluntary frameworks and initiatives.
  • Key developments in the sustainability and ESG regulatory landscape of relevance to the Group.
  • In each case, advise the board on implementing any consequent changes required to the Group’s strategies, goals, commitments, and disclosures related to sustainability and ESG.
  • Guide the Group’s ESG communication strategy.

6. Policies and procedures

  • Approve and oversee the implementation of and ongoing compliance with the Group’s sustainability and ESG policies and procedures, including those related to the Environment, Health and Safety, Diversity, Equity and Inclusion, Stakeholder Engagement, and Whistleblowing.
  • Review, update, and oversee the Group’s policies and procedures, systems, and controls for collecting, managing, and monitoring sustainability and ESG information (including the information used to prepare sustainability and ESG-related statements and disclosures).

7. Performance targets and ratings

  • Develop sustainability and ESG goals, key performance indicators, metrics, strategies, objectives and commitments, and review and monitor the Group’s performance against the same.
  • Consider and review the Group’s and any of its subsidiaries’ sustainability and ESG ratings and accreditations.

8. Training and education of employees and management

  • Oversee the delivery of regular and effective sustainability and ESG training throughout the Group at all levels (including induction training for new employees and board members) and regularly benchmark the quality and effectiveness of that training.
  • Oversee the preparation, communication, and education of senior leadership and functional groups on changes in sustainability and ESG policies and practices within the Group.

9. Stakeholder engagement

  • Oversee the Group’s sustainability and ESG-related engagement efforts with shareholders and other key stakeholders, including employees, customers, suppliers, lenders, local communities, non-governmental organizations, and key ESG ratings agencies and providers.
  • Review and monitor the mechanisms for engagement with the Group’s stakeholders so that they remain effective.
  • Review the adequacy and security of the Group’s arrangements for its employees and contractors to raise concerns, in confidence, about possible wrongdoing. The Board shall ensure that these arrangements allow a proportionate and independent investigation of such matters and appropriate follow-up action.

10. Working with other committees and auditors

  • Review the effectiveness of risk management and internal control policies relevant to sustainability and ESG matters.
  • Review the reports of internal and external auditors that have implications for sustainability and ESG matters.

11. Charitable and Community investment activities

  • Review and oversee the Group’s charitable programs and community investment activities.

DISCLAIMER

This memorandum is intended for informational purposes only and does not constitute tax, legal, or professional advice. Nothing herein is to be considered as creating a service provider-client relationship between the recipient and Amicorp. Recipients should not act or rely on any information contained in this memorandum without seeking appropriate legal, tax, or other professional advice on the particular facts and circumstances at issue. The information is “AS IS” and Amicorp makes no express or implied representations or warranties or guarantees the completeness, accuracy, or timeliness of this information. Your use of this information is at your own risk and responsibility.