We conduct our business with the smallest possible impact on the environment.
As a global corporate services provider, we facilitate safe and efficient global trade and investment. We have a duty to ensure that we do this responsibly and sustainably. This means conducting our business with the smallest possible impact on the environment, which means not enabling activities of clients that may pose risks to the environment, respecting human rights and always considering the possible impact on the achievement of social goals.
In order to achieve these goals, we have built an Environmental, Social and Governance (ESG) framework which consists of our ESG Risk Policy and our ESG Risk Assessment. The purpose of our ESG Risk Policy is to set out the principles which guide Corpag on how to identify and address ESG risks and to give guidance on how those risks should be managed and incorporated into our day-to-day decision-making process. Our ESG Risk Assessment is a tool through which the ESG Risk Policy is applied to each client, as part of the client due diligence at client acceptance, and as part of ongoing due diligence for existing clients.
By creating and implementing our ESG framework, we aim to:
• Facilitate safe and global trade in a responsible and sustainable
• Align our global organization in the treatment of ESG risks and
• Identify ESG risks which are posed by the activities of current and
• Determine whether there are mechanisms in place to mitigate such
• Support our clients to seek continuous improvement in their ESG
• Refuse to enter or maintain a business relationship with clients who
pose an unacceptably high level of risk or where our ESG standards are not expected to be met.
• Live up to our reputation as a sustainable corporate services provider.
• Not only mitigate our negative impact but create opportunities for
• Take measures, outside of daily activities and core business, which will
directly or indirectly contribute towards addressing ESG problems.
We make transparent choices about how, where and with whom we do business. This means that we will, in principle, not provide services to prospective or existing clients which perform activities or have direct involvement in certain industries or activities, for example (but not limited to), ship breaking or dismantling, mining, oil and gas, non-green energy projects, trade in endangered species, animal testing for cosmetics, trade or production of fur or fur products, commercial whaling and unethical fishing practices, genetic engineering of human beings or animals, exploitation of areas/environments protected by international conventions or institutions or which are of high importance for conservation of biodiversity, ecosystems, and endangered species, tobacco, weapons, narcotics (unless for medical applications), online and offline gambling, investment in pyramid structures (Ponzi schemes), pornography, prostitution, child labor, abuse of workers or lack of respect for international labor rights/standards, aggressive tax structures which are regarded by Corpag as contrary to the public good, etc.
As our clients often have a far greater influence on environmental, social and governance matters due to the nature of their activities, our ESG Risk Policy is primarily targeted at our position as corporate services provider in the chain. However, we also have internal ESG focus areas, for example (but not limited to), vicinity to public transport hub of our offices, energy efficiency of offices, purchasing (sustainable coffee, green energy, reusability of office furniture, etc.), our waste reduction and waste separation, paperless offices, no discrimination, diversity and inclusion, equal pay for equal work, training possibilities, trade union freedom, encouraging volunteer work and whistle-blower regulations.
Our ESG framework is built on our values and principles together with globally accepted standards and applies to all services offered by us. Our ESG framework is integrated into every element of our business conduct and will be revised from time to time to reflect our risk appetite and organizational or regulatory changes.