CSR Policy
1 Introduction
1.1 At ifac, we consider corporate social responsibility (“CSR”) to be an important part of the manner in which we conduct our business. CSR means we acknowledge that, as a business, we have a responsibility to our clients, our employees, independent contractors, suppliers and other stakeholders as well as the broader community in which we operate. We aim, through our firm’s practices and policies, to create value for our employees and clients, minimise our impact on the environment and improve the quality of the local community. We are committed to being a socially responsible and sustainable firm, as reflected in this policy.
2 Our strategy
2.1 We believe that having a clear and focused CSR strategy with clear aims and objectives has real benefits for our business.
2.2 We rely on having a healthy, diverse and talented workforce and seek to recruit and retain the best people. We are committed to offering a professional service of the highest standard and quality to our clients. We aim, therefore, for our business to consider the environmental and social issues that are important to our employees and our clients, as well as other relevant stakeholders. We also acknowledge that, for long-term commercial success, we rely to an extent on the health of the environment and the economic strength and wellbeing of our local community.
2.3 We aim to align CSR with our business strategies and operations.
2.4 By putting CSR into practice, we are committed, wherever possible, to:
2.4.1 having high standards of governance and risk management within our business;
2.4.2 conducting ourselves responsibly and in an ethical manner;
2.4.3 creating a positive and supportive working environment;
2.4.4 having an active role in supporting local communities;
2.4.5 improving service levels to clients;
2.4.6 acting fairly in our dealings with suppliers and other third parties;
2.4.7 minimising our impact on the environment;
2.4.8 being environmentally responsible in the procurement/purchasing of goods and services to minimise our impact on the environment;
2.4.9 upholding the highest standards of economic, social, ethical and environmental practices.
3 Overview of our CSR strategy planning process
3.1 Our key stakeholders are our employees, independent contractors, board members, clients, suppliers, charities and local communities.
3.2 We have direct input from our stakeholders to ensure that our strategy considers the environmental and social issues that are important to our stakeholders.
4 Communication
4.1 We shall communicate this policy to our employees, clients and other stakeholders.
4.2 We provide our staff with training on our CSR strategy and this policy, including its implementation, and seek to raise awareness of any negative impacts of our business and methods to reduce them.
5 Responsibility and review
5.1 John Donoghue, Chief Executive Officer of ifac, has the overall responsibility for our CSR strategy and for implementing this policy.
5.2 All employees have a role to play in complying with our CSR objectives and are encouraged to make suggestions in relation to initiatives that we could undertake or support.
5.3 We are committed to the highest possible standards of openness, honesty, integrity and accountability.
5.4 We are committed to ensuring that our policy remains effective. As part of our ongoing commitment, this policy is reviewed at least annually to verify its effective operation. Records of the reviews are maintained, and any necessary amendments are made to this policy, as appropriate. Accordingly, this policy is subject to change from time to time. ifac reserves the right to amend this policy at any stage in whole or in part for any reason and without prior notice, consent or approval. Any such amendments will be communicated to all personnel.
6 Our commitments
6.1 We are committed to taking responsibility for our actions and to making a positive contribution towards improving standards for our employees and clients, minimising our impact on the environment and improving the wellbeing of the local community. The ways in which we intend to give effect to the foregoing are outlined below.
6.2 Governance and risk management:
6.2.1 We are committed to ensuring a high standard of governance in our firm.
6.2.2 We are committed to ensuring compliance with all statutory and regulatory requirements and professional standards.
6.2.3 We also acknowledge the importance of managing risks, which is critical to the operation of a successful business. We are committed to properly managing all risks that may affect our firm and to that end, ensuring that the necessary risk management procedures are in place and observed.
6.3 Our conduct:
6.3.1 We aim to adopt the highest professional standards and not to act in such a way as to compromise our firm’s integrity.
6.3.2 We are authorised and regulated by the Institute of Certified Public Accountants in Ireland (“CPA Ireland”) and comply with all requirements of the International Compliance Professionals Association (ICPA).
6.3.3 We comply with CPA Ireland’s Code of Ethics and our own Code of Ethics, which sets out the behavioural expectations of our personnel and the ethical principles that we must comply with in our day-to-day conduct of business at ifac. Our Code of Ethics affirms our commitment to act in the public interest and to ensure that ethical principles are observed, and the highest professional and ethical standards are maintained.
6.3.4 We actively promote respect amongst our employees in their dealings with each other and with clients and other third parties.
6.4 Our working environment:
6.4.1 We recognise that our employees are our most important resource. We actively seek to offer our employees a positive and healthy working environment and ensure that they have rewarding careers and job satisfaction.
6.4.2 We seek to offer competitive salary and benefit packages that are commensurate with the marketplace, and which properly and fairly rewards our employees’ efforts.
6.4.3 We seek to ensure that all employees have access to the learning and development that they need for their own personal development, to meet their regulatory obligations and to ensure that they can deliver a high-quality service.
6.5 Our community:
6.5.1 We appreciate the importance of our role in supporting the local community in which we work, and we believe that it is right to use some of our expertise and resources for that benefit.
6.5.2 We have resolved to:
(i) sponsor or otherwise support local and national charities, including by making donations to them;
(ii) organise and host charity events at our offices, where we will match the employees’ donations to these charities;
(iii) allow our employees to select charities to whom we will consider making donations, subject to us undertaking the required review and due diligence in respect of those charities and approving them and the levels of those donations.
6.5.3 We have resolved to offer work placements to students from local schools and colleges.
6.6 Our clients:
6.6.1 We are committed to delivering a level of service of the highest professional standard and quality to all our clients. We understand that our business exists in a very competitive market and in order to retain our clients we need to deliver a professional, quality and courteous service observing the highest professional standards.
6.6.2 Wherever possible, we take steps to promote equal opportunity in relation to access to the professional services that we provide. We take account of the diversity of the communities that we serve in order to ensure that, subject to funding constraints, our services are accessible to all clients.
6.6.3 We take account of and use our best endeavours to accommodate and address the needs of clients with a disability, clients who are unable to communicate effectively and other clients with a vulnerability in the provision of professional services to them.
6.6.4 We consider whether particular groups are predominant within our client base and, where possible, use our best endeavours to ensure that their needs are met.
6.6.5 We take steps to identify the needs of clients in the community and develop plans and procedures setting out how we can meet these needs and use our best endeavours to address these needs.
6.6.6 We use our best endeavours to ensure that the services that we provide are accessible for all.
6.6.7 We have a commitment to serve local and independent clients, which represent at least 75% of our client base.
6.7 Suppliers:
6.7.1 We are committed to eliminating unlawful discrimination and to promoting equality and diversity in our professional dealings with suppliers and other third parties.
6.7.2 We endeavour to enter into clear and fair contracts with our suppliers. We commit to the timely settlement of suppliers’ invoices.
6.7.3 Wherever possible, we aim to support the local economy by contracting with local suppliers.
6.7.4 We are committed to purchasing goods, including core products (comprising at least 50% of non-labour expenses), and availing of services from independent suppliers local to where these goods and services will be used or where we operate our business. Our preference therefore in each of our offices is to purchase from local suppliers. Accordingly, we have compiled ready-to use lists setting out preferred local independent suppliers and vendors for each of our offices/our business.
6.7.5 We acknowledge that local suppliers support the local economy and wellbeing of communities where we operate and generate social and economic benefits. This accords with our CSR strategy, which strives, among other things, to support our communities.
6.8 Environment:
6.8.1 We are committed to behaving responsibly and to minimising our impact on the environment.
6.8.2 In considering the environment, we shall:
(a) encourage environmental responsibility among our independent contractors, suppliers and employees and include environmental considerations in our purchasing and procurement processes and in business travel.
(b) minimise our consumption of natural resources and manage waste through responsible disposal, reusing and recycling, including paper and toner ink cartridges.
6.8.3 We believe that we all have a responsibility to care for our environment and we are committed to contributing to the protection of the environment for our generation and future generations. Our Environmental Charter outlines our mission, vision, commitments, and environmental policies and can be viewed on our website.
6.9 Environmental Preferable Purchasing Policy
6.9.1 Environmentally Preferable Purchasing is the procurement of goods and services that have a reduced impact on human health and the environment in comparison with other goods and services serving the same purpose.
6.9.2 We will strive to purchase goods and services that minimise negative impact on the environment, society and our community while addressing the requirements of our business. We will therefore have appropriate regard to environmental considerations when we purchase goods and services. Accordingly, in the procurement of goods and services, we will use environmental responsibility as a factor in our purchasing decisions, including:
· consider goods which can be manufactured, used and disposed of in an environmentally responsible way;
· give preference, where goods are of a similar quality, cost and function, to those that are manufactured with a high recycled content and other environmentally friendly products;
· consider goods that can be recycled or reused;
· consider the energy usage and cost of operating equipment prior to purchase;
· favour suppliers that are committed to environmentally responsible practices and who strive to improve their environmental performance and provide environmentally preferable goods;
· consider the whole life costs and impacts of equipment prior to purchase.
6.9.3 We will therefore seek to purchase environmentally preferable goods and services that address the needs of our business, including:
(a) Goods that reduce greenhouse gas emissions or are made with renewable energy;
(b) Goods that minimise the use of chemicals hazardous to the environment, clients, customers, employees and public health;
(c) Goods that contain the highest possible level of post-consumer recycled content;
(d) Goods that have several functions (e.g., copiers/scanners/printers and multipurpose cleaners) and reduce the overall number of products purchased;
(e) Goods that reduce air and water pollution and waste;
(f) Goods that are reusable, recyclable or compostable;
(g) Goods and services that are available locally and provided by independent suppliers;
(h) Environmentally preferable goods and services provided by suppliers who seek to improve their environmental performance and who can provide written records of the supply chain effects of their endeavours.
These environmental preferable goods and services that we will seek to purchase include the following:
(i) Building/construction services for any building/construction projects that we may undertake;
(ii) Carpets;
(iii) Cleaning;
(iv) Food or food services;
(v) Meetings and conferences;
(vi) Office supplies;
(vii) Office equipment;
(viii) Paper.
6.9.4 Where environmentally preferable goods and services are unavailable or impractical, we will consider the environmental management practices of the suppliers of such goods and services.
6.9.5 The purchase of environmentally preferable goods and services supports our vision to be a climate positive business and our commitment to the protection of the environment. This is in line with our CSR strategy to adopt responsible procurement practices and manage our environmental footprint.
6.9.6 We are working towards an objective, where ultimately, we will request our suppliers to demonstrate that they have environmental policies and management systems sufficient to ensure continuous improvement in environmental performance. Accordingly, it is our hope that ultimately our suppliers will be in a position to demonstrate:
i. Documented policies regarding environmental management;
ii. The ability to monitor and review environmental performance;
iii. The identification and awareness of potential environmental risks inherent in their production, service or sourcing operations;
iv. Mechanisms and processes in place to mitigate or minimise potential environmental risks and the implementation of same;
v. The degree to which products and services have been designed with environmental considerations in mind.
6.9.7 We expect our suppliers to observe the same environmental standards in their business operations that we are committed to upholding, including:
(a) Comply fully with all applicable environmental laws;
(b) Undertake initiatives to promote greater environmental responsibility, such as (where applicable):
‒ Responsible waste management and disposal;
‒ Reduction of greenhouse gas and other emissions harmful to the environment;
‒ Conservation of non-renewable natural resources.
(c) Assess the environmental impacts of their operations, continuously seeking to reduce pollution and other environmental contamination and improving their resource efficiency by the reduction of energy and water use and waste;
(d) Monitor their progress to ensure ongoing improvements in their environmental performance.
6.9.8 Our suppliers should therefore seek to:
(a) Minimise the use of energy, water and raw materials where practical;
(b) Maximise the use of recyclable and renewable materials, including energy, where possible;
(c) Endeavour to minimise waste and dispose of waste in a safe, efficient and environmentally responsible manner;
(d) Avoid contamination of the environment and ensure that emissions, air, noise and odour pollution is, at a minimum, within nationally defined limits.
6.9.9 We recognise that the improvement of environmental performance in the provision of goods and services is a continuous process and value the contribution of our suppliers in our journey to becoming more sustainable. By incorporating environmental considerations into our purchasing decisions, we endeavour to make a positive contribution to the environment, society and our community.
7 Definitions
Unless otherwise specified herein, and where the context admits or requires, references to:
· “ifac” means Irish Farm Accounts Co-operative Society Limited, trading as ifac, and all its subsidiaries;
· “personnel” includes the employees, partners, executive directors, principals, directors and other officers of ifac;
· “we”, “our”, “ourselves” or “us” are references to ifac and/or its subsidiaries and the personnel of ifac and/or its subsidiaries.