TABLE OF CONTENTS
A MESSAGE FROM OUR RESPONSE OUR ESG COUNCIL TO COVID19 CHAIRPERSON 02 04
SUSTAINABILITY AT RESPONSIBLE EDELWEISS GROUP GOVERNANCE 09 12
CONTRIBUTING PROTECTING THE TO SOCIETY ENVIRONMENT
Sustainability Report 2020 17 24
01 TABLE OF CONTENTS
A MESSAGE FROM OUR RESPONSE OUR ESG COUNCIL TO COVID19 CHAIRPERSON 02 04
SUSTAINABILITY AT RESPONSIBLE EDELWEISS GROUP GOVERNANCE 09 12
CONTRIBUTING PROTECTING THE TO SOCIETY ENVIRONMENT
Sustainability Report 2020 17 24
01 A MESSAGE FROM OUR ESG COUNCIL CHAIRPERSON CONFERRED WITH THE NATIONAL CSR AWARD 2019 Edelweiss Financial Services Limited was awarded Last year, I was entrusted with the responsibility Today, we find ourselves in the middle of a global the National CSR Award for Excellence in Corporate of ensuring that our ESG efforts are monitored pandemic, one that has already had catastrophic Social Responsibility by the Ministry of Corporate Affairs. Our Chairman and CEO, Rashesh Shah and and executed efficiently across the Edelweiss impact on communities and economies across EdelGive Foundation's CEO, Vidya Shah, received Group. This is a role I take very seriously, and one the world. In the current backdrop, the definition the award from the Honourable President of India, that also aligns with my role as the CEO of our of a sustainable organisation has also changed. Shri. Ram Nath Kovind. Edelweiss was recognised philanthropic initiative, EdelGive Foundation. The ongoing battle to limit the spread and for the work done by EdelGive Foundation towards I understand that many companies of our stature impact of Covid19, has made it even more building an inclusive society, by supporting key do not have a sustainability report, let alone a important for organisations to define and adhere priority areas – Education, Women Empowerment director on the board tasked with this to social and environmental commitments. We and Livelihoods. responsibility. This report is thus our attempt to must therefore be resilient, adaptable and set a positive example in the industry and accepting of innovative ways of operating, showcase our collective conviction to invest in enhancing our use of technology to the fullest. our stakeholders, our community and our Our Sustainability report and the value of environment. sustainability we uphold, has taken on a deeper meaning this year, one which I hope will come Edelweiss Group’s journey as a leader in the We are firm believers in the concept of 'What We thank you for your support and hope to through from this report. financial services sector is driven by ideas on cannot be measured cannot be managed', continue to live up to the high level of standards one hand and values on the other. A large part of This is the first issue of our Sustainability Report, and hence, a process of benchmarking with that you hold us to. global reporting standards was undertaken. the values we support are guided by our since I have taken responsibility and I feel Warm Regards, commitment to do our best for ourselves, our humbled to share some of the key parameters of These benchmarks reflect our seriousness of employees, our customers and society at large. the detailed process we have undertaken, with purpose and our ambition to measure Vidya Shah E S G is therefore an extension of this you: ourselves, year on year, on our targets. We Chairperson, ESG Council, Edelweiss Group CEO, EdelGive Foundation commitment and showcases our resolve to have chosen more than 50 GRI standards Our comprehensive Sustainability Report is include sustainability within all areas of our which are globally recognised indicators of an entirely organic report cocreated by the operations. progress, to report our activities team at Edelweiss, who are directly responsible for our achievements in ESG As part of our efforts to institutionalise this process, we have also put together an ESG The report focuses on the SDG framework Council of senior Edelweiss leaders, that has been voluntarily adopted. We responsible for meeting our goals in a continue to monitor our achievements thoughtful way. ESG was always part of our This report is our attempt against 9 of the 17 SDGs we are aligned with. thinking and doing and I am certain that the to set a positive example in These have been selected with a fierce Council will make it part of our being the industry and showcase conviction as they were the most important our collective conviction to for us to address, without spreading Even with the new challenges before us, we stand invest in our stakeholders, ourselves too thin, rather focussing on a few strong in our resolve to operate within the our community and our achievable goals highest levels of governance, supporting societal environment. growth and conserving our natural resources. We have also committed to getting our Through this journey, we are fortunate to have sustainability report assured externally in 2 been associated with partners, customers and years. The team at Edelweiss is putting in employees who have stood by us and supported place the processes required to ensure our decisions along the way. external scrutiny as well as internal oversight at the Board level 02 03 OUR PREPAREDNESS A Central Task Force was set up in conjunction with business teams – Business Continuity Plans (BCPs) were evaluated along with associated risk assessments Assured all clients that the necessary BCP measures have been implemented in order to mitigate any possible disruption even before the official lockdown was announced Encouraged and enabled over 80% of the Edelweiss employee base to work remotely prelockdown Activated 'Incident Room' (the Edelweiss emergency response hub) to respond to employee queries and track OUR their travel history, along with regular advisory communication and updates Predetermined efforts were taken to create a technologicallysound foundation. BCP training ensured that all technology teams were ready to adapt to a new environment swiftly
OUR RESPONSE RESPONSE AS A RESPONSIBLE CORPORATE CITIZEN Contributed `20 million to the PM Cares Fund and `5 million to the TO EdelGive Foundation Chief Minister Relief Edelites collectively has committed `100 Fund, Maharashtra million in the first raised `1.2 million quarter of FY21 towards to support 30,000+ its NGO partners migrant families
Edelweiss Group C VID19 stands in solidarity with the nation To fight Covid19
The Covid19 pandemic and subsequent lockdown applied immense pressure on economies and businesses across the globe. In India particularly, the pandemic and the resultant lockdown, has challenged our operating environment and further deepened the strain on the EdelGive Foundation significantly stepped up its efforts to support vulnerable communities through its NGO economy. At Edelweiss, we enabled a swift and seamless transition to work from home, partners, offering them not only financial assistance but also working hand in hand to ensure minimum disruption to their ongoing programmes. without any significant loss in productivity. While we worked towards gradually returning to Ensured that its 42 grantee partners spread across 14 states are equipped and staffed to address the situation normalcy, a strict focus on safety and hygiene was maintained. We were also cognisant that on the ground staying connected and remaining available to all our stakeholders, especially our customers, Stayed connected to NGO partners, shared their stories and ensured flexibilities wherever possible despite the physical distance, would be critical. Committed over `100 million in the first quarter of FY21 towards its NGO partners Used its network within the philanthropic community to share stories from the ground and highlight the 1. Our Preparedness immediate needs of the NGOs 2. Our Response Influenced over `220 million in 16 weeks since the announcement of the lockdown to further the efforts of As a Responsible Corporate Citizen NGOs working at grassroots level across India Our Responsibility towards our People Became founding signatory to the Common Charter for the Indian Donor and Philanthropic Community – an initiative created to offer collective support to NGOs, signed by some of India's leading philanthropies such Our Responsibility towards our Customers and Partners as Ford Foundation, Wipro Limited, Rohini Nilekani Philanthropies and Oxfam India, agreeing to abide by a common set of values as funders
04 05 OUR PREPAREDNESS A Central Task Force was set up in conjunction with business teams – Business Continuity Plans (BCPs) were evaluated along with associated risk assessments Assured all clients that the necessary BCP measures have been implemented in order to mitigate any possible disruption even before the official lockdown was announced Encouraged and enabled over 80% of the Edelweiss employee base to work remotely prelockdown Activated 'Incident Room' (the Edelweiss emergency response hub) to respond to employee queries and track OUR their travel history, along with regular advisory communication and updates Predetermined efforts were taken to create a technologicallysound foundation. BCP training ensured that all technology teams were ready to adapt to a new environment swiftly
OUR RESPONSE RESPONSE AS A RESPONSIBLE CORPORATE CITIZEN Contributed `20 million to the PM Cares Fund and `5 million to the TO EdelGive Foundation Chief Minister Relief Edelites collectively has committed `100 Fund, Maharashtra million in the first raised `1.2 million quarter of FY21 towards to support 30,000+ its NGO partners migrant families
Edelweiss Group C VID19 stands in solidarity with the nation To fight Covid19
The Covid19 pandemic and subsequent lockdown applied immense pressure on economies and businesses across the globe. In India particularly, the pandemic and the resultant lockdown, has challenged our operating environment and further deepened the strain on the EdelGive Foundation significantly stepped up its efforts to support vulnerable communities through its NGO economy. At Edelweiss, we enabled a swift and seamless transition to work from home, partners, offering them not only financial assistance but also working hand in hand to ensure minimum disruption to their ongoing programmes. without any significant loss in productivity. While we worked towards gradually returning to Ensured that its 42 grantee partners spread across 14 states are equipped and staffed to address the situation normalcy, a strict focus on safety and hygiene was maintained. We were also cognisant that on the ground staying connected and remaining available to all our stakeholders, especially our customers, Stayed connected to NGO partners, shared their stories and ensured flexibilities wherever possible despite the physical distance, would be critical. Committed over `100 million in the first quarter of FY21 towards its NGO partners Used its network within the philanthropic community to share stories from the ground and highlight the 1. Our Preparedness immediate needs of the NGOs 2. Our Response Influenced over `220 million in 16 weeks since the announcement of the lockdown to further the efforts of As a Responsible Corporate Citizen NGOs working at grassroots level across India Our Responsibility towards our People Became founding signatory to the Common Charter for the Indian Donor and Philanthropic Community – an initiative created to offer collective support to NGOs, signed by some of India's leading philanthropies such Our Responsibility towards our Customers and Partners as Ford Foundation, Wipro Limited, Rohini Nilekani Philanthropies and Oxfam India, agreeing to abide by a common set of values as funders
04 05 Technology was our backbone – OUR The strength of character displayed by our people in these Enablement was the cornerstone of the WFH setup challenging times bears a testament to the Edelweiss spirit. RESPONSIBILITY While 90% of them began operating remotely almost 1. Seamless Transition: Enabled employees with the right tools to smoothly transition into a overnight, we knew that they would take some time to work from home setup. TOWARDS OUR grapple with the new normal. At our end, we ensured that they were kept informed, engaged and enabled. 2. Enhanced Security: Boosted overall cyber security to avoid compromising client information PEOPLE and data in any way. 3. Heightened Collaboration: Adopted the Office 365 collaboration suite including platforms like Microsoft Teams and Yammer to amplify employee engagement. Employee safety and wellbeing – Our topmost concern
1. Covid19 Helpline: Dedicated helpline service 5. Employee Development: Encouraged that connects employees to qualified doctors employees to use the time to upskill via online OUR who provide WHO/GOI verified information, learning – Coursera, Udemy, LinkedIn Learning. We knew that in such unprecedented times, our quells myths and address queries about Employees were reimbursed for the paid courses. RESPONSIBILITY customers would be anxious and would need all Covid19. 6. Employee Wellness Sessions: Conducted the handholding we could provide. We went the TOWARDS extra mile to ensure authentic experiences. Our 2. Counselling Helpline: Online consultation weekly webinars on managing stress, dealing motto was simple – demystify the ambiguity and service with a qualified psychologist, ensuring with anxiety, meditation, yoga, parenting, CUSTOMERS educate them on the best way forward. nonjudgemental space for employees to open nutrition and immunity. AND PARTNERS up and manage stress and anxiety. 7. Virtual Events: Amped up the engagement 3. Group Mediclaim: Reassured employees that levels and engaged teams virtually via talent in case of any hospitalisation, quarantine or shows, jam sessions, fitness challenges, cook treatment, the Group medical insurance policy offs, virtual gaming and other celebrations. Edelweiss General provides adequate coverage to them and their 8. Unlock 1.0: Enforced a phase wise resumption Waived off the 30 day wait period to ease claim settlement dependent family members. Insurance waived plan by putting in place SOPs and guidelines for off the 30 day Covered everything from normal hospitalisation to ICU treatment 4. Early Pay Day: In order to help employees business continuity along with continued well waiting period Covered domiciliary hospitalisation benefit as well as alternative treatments navigate through the uncertainties brought on being of our employees. for Coronavirus 30 under AYUSH by the sudden lockdown, we prepaid salaries treatment in the month of March.
Addressed the need for business owners to safeguard the wellbeing of Edelweiss Gallagher their workforce introduced a Pandemic Sharpened focus on communication – Group Insurance Covers food delivery agents, informal sector workers, factory workers, hospital frontline staff, healthcare providers and pharmaceutical Fostering an informed and inclusive environment Cover for the manufacturers informal sector 1. Leader Connect: Our chairman and CEO 3. Employee Connect: Weekly communication Helped instill confidence in the community and allowed commerce to individually connected with all critical functions, from the CHRO's desk on the situation analysis continue providing muchneeded assurance, appreciation, and the road ahead. Oneonone HR intervention guidance and concern redressal. providing necessary support during the transition 2. Town halls: Multiple virtual town halls conducted to remote working. Edelweiss Mutual Fund Leveraged digital platforms like Edelweissmf.com, Galaxy, Bharatbond.in to ensure a transparent communication channel 4. Pulse Survey: An anonymous pulse survey was enabled seamless to enable seamless digital investments between business leaders and employees. conducted to cater to employee grievances. digital investments Conducted numerous investments and advisory sessions to dispel and advisories uncertainties and share expert advice
06 07 Technology was our backbone – OUR The strength of character displayed by our people in these Enablement was the cornerstone of the WFH setup challenging times bears a testament to the Edelweiss spirit. RESPONSIBILITY While 90% of them began operating remotely almost 1. Seamless Transition: Enabled employees with the right tools to smoothly transition into a overnight, we knew that they would take some time to work from home setup. TOWARDS OUR grapple with the new normal. At our end, we ensured that they were kept informed, engaged and enabled. 2. Enhanced Security: Boosted overall cyber security to avoid compromising client information PEOPLE and data in any way. 3. Heightened Collaboration: Adopted the Office 365 collaboration suite including platforms like Microsoft Teams and Yammer to amplify employee engagement. Employee safety and wellbeing – Our topmost concern
1. Covid19 Helpline: Dedicated helpline service 5. Employee Development: Encouraged that connects employees to qualified doctors employees to use the time to upskill via online OUR who provide WHO/GOI verified information, learning – Coursera, Udemy, LinkedIn Learning. We knew that in such unprecedented times, our quells myths and address queries about Employees were reimbursed for the paid courses. RESPONSIBILITY customers would be anxious and would need all Covid19. 6. Employee Wellness Sessions: Conducted the handholding we could provide. We went the TOWARDS extra mile to ensure authentic experiences. Our 2. Counselling Helpline: Online consultation weekly webinars on managing stress, dealing motto was simple – demystify the ambiguity and service with a qualified psychologist, ensuring with anxiety, meditation, yoga, parenting, CUSTOMERS educate them on the best way forward. nonjudgemental space for employees to open nutrition and immunity. AND PARTNERS up and manage stress and anxiety. 7. Virtual Events: Amped up the engagement 3. Group Mediclaim: Reassured employees that levels and engaged teams virtually via talent in case of any hospitalisation, quarantine or shows, jam sessions, fitness challenges, cook treatment, the Group medical insurance policy offs, virtual gaming and other celebrations. Edelweiss General provides adequate coverage to them and their 8. Unlock 1.0: Enforced a phase wise resumption Waived off the 30 day wait period to ease claim settlement dependent family members. Insurance waived plan by putting in place SOPs and guidelines for off the 30 day Covered everything from normal hospitalisation to ICU treatment 4. Early Pay Day: In order to help employees business continuity along with continued well waiting period Covered domiciliary hospitalisation benefit as well as alternative treatments navigate through the uncertainties brought on being of our employees. for Coronavirus 30 under AYUSH by the sudden lockdown, we prepaid salaries treatment in the month of March.
Addressed the need for business owners to safeguard the wellbeing of Edelweiss Gallagher their workforce introduced a Pandemic Sharpened focus on communication – Group Insurance Covers food delivery agents, informal sector workers, factory workers, hospital frontline staff, healthcare providers and pharmaceutical Fostering an informed and inclusive environment Cover for the manufacturers informal sector 1. Leader Connect: Our chairman and CEO 3. Employee Connect: Weekly communication Helped instill confidence in the community and allowed commerce to individually connected with all critical functions, from the CHRO's desk on the situation analysis continue providing muchneeded assurance, appreciation, and the road ahead. Oneonone HR intervention guidance and concern redressal. providing necessary support during the transition 2. Town halls: Multiple virtual town halls conducted to remote working. Edelweiss Mutual Fund Leveraged digital platforms like Edelweissmf.com, Galaxy, Bharatbond.in to ensure a transparent communication channel 4. Pulse Survey: An anonymous pulse survey was enabled seamless to enable seamless digital investments between business leaders and employees. conducted to cater to employee grievances. digital investments Conducted numerous investments and advisory sessions to dispel and advisories uncertainties and share expert advice
06 07 Edelweiss General Permitted vehicle owners to switch their motor insurance on and off, Insurance gave vehicle based on usage owners the option A driverbased motor insurance policy (under IRDAI's Regulatory Sandbox) to SWITCH off/on their motor Brought cost savings to customers who have been sparingly using their vehicles in recent times Edelweiss Group has always been at the forefront of sustainable growth, both insurance for its diverse stakeholders and for society at large. Our 13 guiding principles BOLT, the selfsurvey app, enabled remote inspections and offered instant SUSTAINABILITY AT determine the values we hold dear, govern all decisionmaking and set the settlements EDELWEISS GROUP tone for the culture within which we operate and conduct ourselves. This report is an extension of these values and our commitment to look beyond our own growth, towards addressing larger environmental, societal and Extended the EMI moratorium in line with the RBI guidelines, helping governance (ESG) challenges. Edelweiss extended those most impacted by the lockdown – small businesses and EMI moratorium entrepreneurs for MSMEs Launched special preapproved loans as per the Government's Aatma Nirbhar Bharat Abhiyaan, providing capital to MSMEs as they emerge out of the lockdown
Introduced 'Dial for success', a digital tool that helped convert face to face CONTRIBUTING advisory to digital advisory, making it easier for our customers to protect TO SOCIETY themselves Edelweiss Tokio Life Insurance reimagined Enhanced nonmedical limits; used credit bureau scores & income in lieu of financial documents for underwriting and leveraged the scores to waive customer experience medicals for Term and Savings plans by leveraging technology Introduced a WhatsApp hotline number and facilitated seamless online claim intimation and tracking Introduced a dedicated medical helpline for customers to access GOI/WHO verified Covid19 information
Edelweiss Wealth Relationship Managers facilitated Edelweiss Mobile Trader (EMT) Management used adoption amongst clients, helping them remain connected to markets RESPONSIBLE technology to remotely as per their convenience GOVERNANCE PROTECTING THE bridge the Customers and partners were equipped with advice on their physical and ENVIRONMENT physical gap financial health via webinars with industry experts
The United Nations Sustainable Development Goals (SDGs) are the blueprint Edelweiss Institutional Continued to provide global investors access to corporates and industry to achieve a better and more sustainable future for all. 2020 marks the start Equities enabled virtual experts in India via virtual delivery platforms ALIGNING WITH THE UNITED of the Decade of Action. We are early adopters of the SDGs and have corporate access Topics included economic impact of and policy choices during Covid19, NATIONS SUSTAINABLE voluntarily committed to uphold them across our operations. ESG investments in a post Covid19 world, among others DEVELOPMENT GOALS We align with 9 of the 17 SDGs and continue to monitor our progress and the impact we create for our multiple stakeholders across different focus areas.
08 09 Edelweiss General Permitted vehicle owners to switch their motor insurance on and off, Insurance gave vehicle based on usage owners the option A driverbased motor insurance policy (under IRDAI's Regulatory Sandbox) to SWITCH off/on their motor Brought cost savings to customers who have been sparingly using their vehicles in recent times Edelweiss Group has always been at the forefront of sustainable growth, both insurance for its diverse stakeholders and for society at large. Our 13 guiding principles BOLT, the selfsurvey app, enabled remote inspections and offered instant SUSTAINABILITY AT determine the values we hold dear, govern all decisionmaking and set the settlements EDELWEISS GROUP tone for the culture within which we operate and conduct ourselves. This report is an extension of these values and our commitment to look beyond our own growth, towards addressing larger environmental, societal and Extended the EMI moratorium in line with the RBI guidelines, helping governance (ESG) challenges. Edelweiss extended those most impacted by the lockdown – small businesses and EMI moratorium entrepreneurs for MSMEs Launched special preapproved loans as per the Government's Aatma Nirbhar Bharat Abhiyaan, providing capital to MSMEs as they emerge out of the lockdown
Introduced 'Dial for success', a digital tool that helped convert face to face CONTRIBUTING advisory to digital advisory, making it easier for our customers to protect TO SOCIETY themselves Edelweiss Tokio Life Insurance reimagined Enhanced nonmedical limits; used credit bureau scores & income in lieu of financial documents for underwriting and leveraged the scores to waive customer experience medicals for Term and Savings plans by leveraging technology Introduced a WhatsApp hotline number and facilitated seamless online claim intimation and tracking Introduced a dedicated medical helpline for customers to access GOI/WHO verified Covid19 information
Edelweiss Wealth Relationship Managers facilitated Edelweiss Mobile Trader (EMT) Management used adoption amongst clients, helping them remain connected to markets RESPONSIBLE technology to remotely as per their convenience GOVERNANCE PROTECTING THE bridge the Customers and partners were equipped with advice on their physical and ENVIRONMENT physical gap financial health via webinars with industry experts
The United Nations Sustainable Development Goals (SDGs) are the blueprint Edelweiss Institutional Continued to provide global investors access to corporates and industry to achieve a better and more sustainable future for all. 2020 marks the start Equities enabled virtual experts in India via virtual delivery platforms ALIGNING WITH THE UNITED of the Decade of Action. We are early adopters of the SDGs and have corporate access Topics included economic impact of and policy choices during Covid19, NATIONS SUSTAINABLE voluntarily committed to uphold them across our operations. ESG investments in a post Covid19 world, among others DEVELOPMENT GOALS We align with 9 of the 17 SDGs and continue to monitor our progress and the impact we create for our multiple stakeholders across different focus areas.
08 09 OUR STAKEHOLDERS AND OPERATING ENVIRONMENT Sustainable Stakeholders Key Areas Development ESG Areas impacted/ of Focus Goals Operating environment At Edelweiss, we view sustainability as an extension of our operating structures, ensuring sustainable practices are adopted across business functions. Developing effective, accountable and transparent institutions We engage with diverse stakeholders to understand their key requirements and concerns. Our aim is to address their Regulators needs by instituting appropriate systems, processes and strategies across the Group, delivering high value to them. Responsible Investors Responsive, inclusive, participatory and representative decisionmaking Governance Customers A detailed description of our efforts towards each stakeholder group and area of impact is available on our website. PEACE, JUSTICE Promote a culture of compliance with the highest AND STRONG Employees INSTITUTIONS standards of integrity Ending discrimination and violence against women Key Material Our Sustainable Society Stakeholders/ Promoting women empowerment Topics Objectives Development Employees Equal access to economic resources and equal Areas of Goal Mapping opportunities for leadership Impact GENDER EQUALITY Creating a safe and healthy working environment and Adhering to the highest standards of enhancing efficiency and productivity Corporate Governance Employees corporate governance practices and Supporting job creation Regulators Compliance ethical behaviour; Creating a safe Society Promoting entrepreneurship and encouraging growth Ethical & transparent and reliable financial services practices Economy of MSMEs ecosystem through policy advocacy DECENT WORK & Contribution to economy by financing real estate ECONOMIC GROWTH infrastructure and affordable housing Satisfactory services Ensuring consistent, highquality Multiple channels customer experience by creating Providing healthcare facilities to employees Customers Responsiveness a customer centric culture Contribution Encouraging healthy lifestyles Employees Data privacy & security focused on their needs to Society Supporting reproductive rights GOOD HEALTH AND WELLBEING Shareholder value Financial performance Protecting and increasing Ensuring access to quality earlychildhood and Corporate Governance primary education shareholder value and focussing Society Investors Compliance Supporting development of education infrastructure on sustainable growth and Risk Management QUALITY and teaching capabilities profitability EDUCATION Disclosures & Transparency Supporting women to get access to rights and entitlements Enriching career Enabling employees to thrive, be Society Ensure equal opportunities and reducing Learning, Development respected and valued, achieving & Training their full potential; Providing a safe REDUCED inequalities Employees INEQUALITIES Health & Wellness and enabling environment with a Benefits focus on employee wellbeing Aiding the development of resilience and adaptability Economy to climate related changes Women empowerment Society Enhancing awareness, education and capacity of Gender equality climate change mitigation and adaptation Society Enabling sustainable and equitable CLIMATE ACTION Education Livelihoods development Rural development Increasing the share of renewable energy in energy Protecting the Environment consumption Contributing to the national agenda Improving energy efficiency Promotion of MSMEs by supporting small businesses, AFFORDABLE AND Environment CLEAN ENERGY Economy Civic infrastructure financially empowering enterprises & housing and individuals and developing housing infrastructure Using natural resources efficiently Environmentally sound management of waste and Environment Responsible consumption limiting waste generation Waste & emissions Minimising adverse environmental RESPONSIBLE Environment CONSUMPTION AND Reducing release of emissions and greenhouse gases Efficient use of natural impacts PRODUCTION resources 10 11 OUR STAKEHOLDERS AND OPERATING ENVIRONMENT Sustainable Stakeholders Key Areas Development ESG Areas impacted/ of Focus Goals Operating environment At Edelweiss, we view sustainability as an extension of our operating structures, ensuring sustainable practices are adopted across business functions. Developing effective, accountable and transparent institutions We engage with diverse stakeholders to understand their key requirements and concerns. Our aim is to address their Regulators needs by instituting appropriate systems, processes and strategies across the Group, delivering high value to them. Responsible Investors Responsive, inclusive, participatory and representative decisionmaking Governance Customers A detailed description of our efforts towards each stakeholder group and area of impact is available on our website. PEACE, JUSTICE Promote a culture of compliance with the highest AND STRONG Employees INSTITUTIONS standards of integrity Ending discrimination and violence against women Key Material Our Sustainable Society Stakeholders/ Promoting women empowerment Topics Objectives Development Employees Equal access to economic resources and equal Areas of Goal Mapping opportunities for leadership Impact GENDER EQUALITY Creating a safe and healthy working environment and Adhering to the highest standards of enhancing efficiency and productivity Corporate Governance Employees corporate governance practices and Supporting job creation Regulators Compliance ethical behaviour; Creating a safe Society Promoting entrepreneurship and encouraging growth Ethical & transparent and reliable financial services practices Economy of MSMEs ecosystem through policy advocacy DECENT WORK & Contribution to economy by financing real estate ECONOMIC GROWTH infrastructure and affordable housing Satisfactory services Ensuring consistent, highquality Multiple channels customer experience by creating Providing healthcare facilities to employees Customers Responsiveness a customer centric culture Contribution Encouraging healthy lifestyles Employees Data privacy & security focused on their needs to Society Supporting reproductive rights GOOD HEALTH AND WELLBEING Shareholder value Financial performance Protecting and increasing Ensuring access to quality earlychildhood and Corporate Governance primary education shareholder value and focussing Society Investors Compliance Supporting development of education infrastructure on sustainable growth and Risk Management QUALITY and teaching capabilities profitability EDUCATION Disclosures & Transparency Supporting women to get access to rights and entitlements Enriching career Enabling employees to thrive, be Society Ensure equal opportunities and reducing Learning, Development respected and valued, achieving & Training their full potential; Providing a safe REDUCED inequalities Employees INEQUALITIES Health & Wellness and enabling environment with a Benefits focus on employee wellbeing Aiding the development of resilience and adaptability Economy to climate related changes Women empowerment Society Enhancing awareness, education and capacity of Gender equality climate change mitigation and adaptation Society Enabling sustainable and equitable CLIMATE ACTION Education Livelihoods development Rural development Increasing the share of renewable energy in energy Protecting the Environment consumption Contributing to the national agenda Improving energy efficiency Promotion of MSMEs by supporting small businesses, AFFORDABLE AND Environment CLEAN ENERGY Economy Civic infrastructure financially empowering enterprises & housing and individuals and developing housing infrastructure Using natural resources efficiently Environmentally sound management of waste and Environment Responsible consumption limiting waste generation Waste & emissions Minimising adverse environmental RESPONSIBLE Environment CONSUMPTION AND Reducing release of emissions and greenhouse gases Efficient use of natural impacts PRODUCTION resources 10 11 PEACE, JUSTICE AND STRONG INSTITUTIONS
BOARD COMMITTEES AND ORGANISATION
Board of Directors
Key committees of the Board
Audit Risk Chairman & CEO
Nomination & Stakeholder’s Chief Operating Business CEOs Remuneration Relationship Officer
Information CSR Compliance & Chief Financial Responsible Technology Secretarial Officer
GOVERNANCE STRUCTURE
13member Board with majority independent directors and three women directors. All major committees are dominated Governance and chaired by independent directors Balanced and rich Board composition with over 350 manyears of experience Board members strive for 100% attendance and active participation in all Board and Board Committee meetings
Executive NonExecutive Independent Directors Directors Directors
BOARD BOARD COMMITTEES Edelweiss is committed to adhering to the highest standards of corporate governance practices and ethical behaviour. Our policies and procedures Audit consider applicable national and global laws and regulations, providing Risk clear guidelines on expected professionalism and conduct. Nomination & Remuneration
PEACE, JUSTICE AND STRONG INSTITUTIONS CSR Stakeholder’s Relationship
Information Technology
Chair of the Board/Committee
12 Data for Board composition is as on March 31, 2020 13 PEACE, JUSTICE AND STRONG INSTITUTIONS
BOARD COMMITTEES AND ORGANISATION
Board of Directors
Key committees of the Board
Audit Risk Chairman & CEO
Nomination & Stakeholder’s Chief Operating Business CEOs Remuneration Relationship Officer
Information CSR Compliance & Chief Financial Responsible Technology Secretarial Officer
GOVERNANCE STRUCTURE
13member Board with majority independent directors and three women directors. All major committees are dominated Governance and chaired by independent directors Balanced and rich Board composition with over 350 manyears of experience Board members strive for 100% attendance and active participation in all Board and Board Committee meetings
Executive NonExecutive Independent Directors Directors Directors
BOARD BOARD COMMITTEES Edelweiss is committed to adhering to the highest standards of corporate governance practices and ethical behaviour. Our policies and procedures Audit consider applicable national and global laws and regulations, providing Risk clear guidelines on expected professionalism and conduct. Nomination & Remuneration
PEACE, JUSTICE AND STRONG INSTITUTIONS CSR Stakeholder’s Relationship
Information Technology
Chair of the Board/Committee
12 Data for Board composition is as on March 31, 2020 13 Age Composition of the Board Periodic communication on awareness and training for all the relevant stakeholders provided 3 Nine board members in the age group of 50 to 64 years 2 and four in the age group of 65 to 75 years 3 5054 Yrs 5559 Yrs Compliance and risk consciousness Over 60 Internal Complaints All employees at the time of joining Edelweiss and 6064 Yrs amongst employees fostered Committee (IC) members thereafter on an annual basis, are required to complete 2 Detailed profile of our Directors and 3 6569 Yrs details of the composition of the Board through an annual recognition trained on POSH policy, trainings on Anti Money Laundering and Counter Financing 7075 Yrs committees and their terms of programme investing over 960 of Terrorism (AML/CFT), Prevention of Sexual Harassment, reference are available on our website. training hours Prohibition of Insider Training, Whistleblower Policy through the Edelweiss SHIELD module ESG GOVERNANCE AT EDELWEISS Reported and investigated 8 POSH cases in FY20, which were concluded with appropriate actions Formation of an ESG Council in FY20 to provide effective governance on ESG parameters Six whistleblower complaints received through online portal, email and post in FY20, were investigated, none of which were identified as a whistleblower case
RISK MANAGEMENT
Risk Management Committee constituted to devise and A women majority body, the ESG Council Brings together rich and Supported by a team of sustainability Business Risk adopt risk management frameworks and plans for comprises of heads of various enterprise varied experience of managing champions from various enterprise Physical & Credit Risk identification, evaluation and assessment of risks units including HR, Admin, Compliance and key stakeholder relationships units who monitor and track Infrastructure Risk Governance, Marketing, Corporate performance on various identified 11 Risk Framework adopted to identify, quantify and Development and Investor Relations ESG parameters monitor risk events in a comprehensive Risk Register Market Risk across the Group Fraud Risk Edelweiss's ESG agenda is further augmented by a CSR Committee and EdelGive Foundation Incident/exception reporting mechanism adopted to 11 RISK ensure timely reporting on deviations from the policies Liquidity Risk and processes FRAMEWORK People Risk LEGAL AND REGULATORY COMPLIANCES Mandatory Risk Management Training Programme for employees facilitated Operate with a strong culture of compliance, regulatory standards and remediation of escalations Risk and Compliance Awards for employees and Regulatory Risk Adoption of a 'Group Compliance' approach Operation & businesses Process Risk Independent Compliance Officers for each business entity and decentralisation of ownership Independent assurance on the effectiveness of the risk Automation of regulatory compliances through technologybased applications Reputation Risk framework provided by Internal Audit Technology Risk Periodic review of regulatory compliances, directives of sectoral regulators and the SEBI LODR by the Audit and Board Committees RESPONSIBLE INVESTMENT FRAMEWORKS AND POLICIES Voluntary adoption of ESG policy, anchored to Material ESG issues focussing on human rights, labour, Principles of Responsible Investment (PRI) and environment and anticorruption taken into UN Global Compact's 10 principles, by Edelweiss’s consideration by EAAA Information Conflict of Asset Management entity (EAAA) – India's largest Security Code of Conduct adopted at an Interest player in Private Debt (AUM of R217 billion as List of exclusionary sectors formulated organisational level for senior of FY20) Data Antibribery Process of strengthening ESG frameworks and processes, management and directors covering Privacy and and introducing ESG reporting initiated Corruption critical areas such as professional integrity, honesty and Code of POSH SUPPLIER AND VENDOR RELATIONSHIP MANAGEMENT ethical conduct Conduct Prohibition Policy of Insider Trading Comprehensive Enterprise Procurement Guidelines which incorporate important ESG issues is in the implementation phase Whistle Mandatory vendor signoff on a Supplier Code of Conduct initiated, specifically enumerating vendor compliance with Blower Anti Policy Money Antifraud These polices are available for applicable environmental laws, regulations and other ESG parameters Laundering reference at on our website. and Counter Additionally, our detailed report on Target to roll out and adopt the framework across various business groups within Edelweiss in the medium term Financing of Responsible Governance summarises Terrorism the key highlights and details on implementation of these policies. 14 15 Age Composition of the Board Periodic communication on awareness and training for all the relevant stakeholders provided 3 Nine board members in the age group of 50 to 64 years 2 and four in the age group of 65 to 75 years 3 5054 Yrs 5559 Yrs Compliance and risk consciousness Over 60 Internal Complaints All employees at the time of joining Edelweiss and 6064 Yrs amongst employees fostered Committee (IC) members thereafter on an annual basis, are required to complete 2 Detailed profile of our Directors and 3 6569 Yrs details of the composition of the Board through an annual recognition trained on POSH policy, trainings on Anti Money Laundering and Counter Financing 7075 Yrs committees and their terms of programme investing over 960 of Terrorism (AML/CFT), Prevention of Sexual Harassment, reference are available on our website. training hours Prohibition of Insider Training, Whistleblower Policy through the Edelweiss SHIELD module ESG GOVERNANCE AT EDELWEISS Reported and investigated 8 POSH cases in FY20, which were concluded with appropriate actions Formation of an ESG Council in FY20 to provide effective governance on ESG parameters Six whistleblower complaints received through online portal, email and post in FY20, were investigated, none of which were identified as a whistleblower case
RISK MANAGEMENT
Risk Management Committee constituted to devise and A women majority body, the ESG Council Brings together rich and Supported by a team of sustainability Business Risk adopt risk management frameworks and plans for comprises of heads of various enterprise varied experience of managing champions from various enterprise Physical & Credit Risk identification, evaluation and assessment of risks units including HR, Admin, Compliance and key stakeholder relationships units who monitor and track Infrastructure Risk Governance, Marketing, Corporate performance on various identified 11 Risk Framework adopted to identify, quantify and Development and Investor Relations ESG parameters monitor risk events in a comprehensive Risk Register Market Risk across the Group Fraud Risk Edelweiss's ESG agenda is further augmented by a CSR Committee and EdelGive Foundation Incident/exception reporting mechanism adopted to 11 RISK ensure timely reporting on deviations from the policies Liquidity Risk and processes FRAMEWORK People Risk LEGAL AND REGULATORY COMPLIANCES Mandatory Risk Management Training Programme for employees facilitated Operate with a strong culture of compliance, regulatory standards and remediation of escalations Risk and Compliance Awards for employees and Regulatory Risk Adoption of a 'Group Compliance' approach Operation & businesses Process Risk Independent Compliance Officers for each business entity and decentralisation of ownership Independent assurance on the effectiveness of the risk Automation of regulatory compliances through technologybased applications Reputation Risk framework provided by Internal Audit Technology Risk Periodic review of regulatory compliances, directives of sectoral regulators and the SEBI LODR by the Audit and Board Committees RESPONSIBLE INVESTMENT FRAMEWORKS AND POLICIES Voluntary adoption of ESG policy, anchored to Material ESG issues focussing on human rights, labour, Principles of Responsible Investment (PRI) and environment and anticorruption taken into UN Global Compact's 10 principles, by Edelweiss’s consideration by EAAA Information Conflict of Asset Management entity (EAAA) – India's largest Security Code of Conduct adopted at an Interest player in Private Debt (AUM of R217 billion as List of exclusionary sectors formulated organisational level for senior of FY20) Data Antibribery Process of strengthening ESG frameworks and processes, management and directors covering Privacy and and introducing ESG reporting initiated Corruption critical areas such as professional integrity, honesty and Code of POSH SUPPLIER AND VENDOR RELATIONSHIP MANAGEMENT ethical conduct Conduct Prohibition Policy of Insider Trading Comprehensive Enterprise Procurement Guidelines which incorporate important ESG issues is in the implementation phase Whistle Mandatory vendor signoff on a Supplier Code of Conduct initiated, specifically enumerating vendor compliance with Blower Anti Policy Money Antifraud These polices are available for applicable environmental laws, regulations and other ESG parameters Laundering reference at on our website. and Counter Additionally, our detailed report on Target to roll out and adopt the framework across various business groups within Edelweiss in the medium term Financing of Responsible Governance summarises Terrorism the key highlights and details on implementation of these policies. 14 15 POLICY ADVOCACY
Active participation in industry bodies and associations, policy discussions to highlight and address concerns on financial and economic growth, sustainable development and climate change. Part of Alternative Investment Management Association (AIMA) APAC ESG working group.
INVESTOR RELATIONSHIP MANAGEMENT
We recognise our shareholders and investors to be our most important stakeholders and strive to create and protect value for them.
Shareholderbase of 165,800 retail and institutional 22 events and outreach programmes hosted in FY20 investors as of March 2020 which include domestic conferences, overseas non Ensured regulatory compliance by timely and deal roadshows and post results analyst conference calls accurate disclosure of material events, updates, and Ensured wider and active coverage by eight research financial performance analysts Proactive engagement with shareholders Continued focus on enhancing the quality of Effective planning, execution and tracking of investor disclosures to investors and analysts, through outreach initiatives enabled by information systems benchmarking with peers and processes Proactively gathered investor feedback and Multiple modes of communication adopted with channelised it to the company management Contributing investors Revamped the investor web page, with a user friendly interface for contact through web Stock exchange filings Media interactions query/request form for service and information Investor Collaterals Website requirements AGM Conferences Four investor complaints received and resolved in FY20 Analyst calls Nondeal road shows to Society Emails
CUSTOMER EXPERIENCE At Edelweiss, we serve a diversified client base that includes corporations, institutions and individuals. At Edelweiss, it is our constant endeavour to create value for all our We put our customers at the centre of all that we do. stakeholders, but most importantly, for society at large. Through our business Addressing customer concerns through physical, Sophisticated complaint management systems digital, ATL and BTL engagement, across customer adopted and philanthropic initiatives, we aim to create an equitable and sustainable journey from presales to servicing 625,035 queries, complaints and requests environment of growth for communities to survive and thrive. Robust Customer Experience Framework adopted received for FY20 with only 78 complaints and In the process of appointing Customer Experience requests pending Champions in each business 21 complaints registered by Edelweiss AMC with GENDER EQUALITY Constitution of a Customer Council comprised of SEBI, none outstanding for FY21 senior leaders 588 complaints registered by Edelweiss Tokio Life DECENT WORK AND ECONOMIC GROWTH Insurance with IRDA, 17 outstanding for FY21 Customer Experience Officers Forum initiated to GOOD HEALTH AND WELLBEING share best practices and drive learning across Robust measurement of customer experience customer representatives through a combination of metrics: QUALITY EDUCATION Digital Net Promoter Score No reported cases of loss of customer data or Customer Satisfaction Surveys breach of customer privacy Individual business led performance measures REDUCED INEQUALITIES
16 17 POLICY ADVOCACY
Active participation in industry bodies and associations, policy discussions to highlight and address concerns on financial and economic growth, sustainable development and climate change. Part of Alternative Investment Management Association (AIMA) APAC ESG working group.
INVESTOR RELATIONSHIP MANAGEMENT
We recognise our shareholders and investors to be our most important stakeholders and strive to create and protect value for them.
Shareholderbase of 165,800 retail and institutional 22 events and outreach programmes hosted in FY20 investors as of March 2020 which include domestic conferences, overseas non Ensured regulatory compliance by timely and deal roadshows and post results analyst conference calls accurate disclosure of material events, updates, and Ensured wider and active coverage by eight research financial performance analysts Proactive engagement with shareholders Continued focus on enhancing the quality of Effective planning, execution and tracking of investor disclosures to investors and analysts, through outreach initiatives enabled by information systems benchmarking with peers and processes Proactively gathered investor feedback and Multiple modes of communication adopted with channelised it to the company management Contributing investors Revamped the investor web page, with a user friendly interface for contact through web Stock exchange filings Media interactions query/request form for service and information Investor Collaterals Website requirements AGM Conferences Four investor complaints received and resolved in FY20 Analyst calls Nondeal road shows to Society Emails
CUSTOMER EXPERIENCE At Edelweiss, we serve a diversified client base that includes corporations, institutions and individuals. At Edelweiss, it is our constant endeavour to create value for all our We put our customers at the centre of all that we do. stakeholders, but most importantly, for society at large. Through our business Addressing customer concerns through physical, Sophisticated complaint management systems digital, ATL and BTL engagement, across customer adopted and philanthropic initiatives, we aim to create an equitable and sustainable journey from presales to servicing 625,035 queries, complaints and requests environment of growth for communities to survive and thrive. Robust Customer Experience Framework adopted received for FY20 with only 78 complaints and In the process of appointing Customer Experience requests pending Champions in each business 21 complaints registered by Edelweiss AMC with GENDER EQUALITY Constitution of a Customer Council comprised of SEBI, none outstanding for FY21 senior leaders 588 complaints registered by Edelweiss Tokio Life DECENT WORK AND ECONOMIC GROWTH Insurance with IRDA, 17 outstanding for FY21 Customer Experience Officers Forum initiated to GOOD HEALTH AND WELLBEING share best practices and drive learning across Robust measurement of customer experience customer representatives through a combination of metrics: QUALITY EDUCATION Digital Net Promoter Score No reported cases of loss of customer data or Customer Satisfaction Surveys breach of customer privacy Individual business led performance measures REDUCED INEQUALITIES
16 17 GENDER EQUALITY DECENT WORK AND ECONOMIC GROWTH
WOMEN EMPOWERMENT & GENDER EQUALITY INCLUSION AND WORKPLACE DIVERSITY
Our philanthropic initiative, EdelGive Foundation, is committed to addressing the social and economic inequalities that Edelweiss has experienced and diverse talent across different entities of the Group. Our procedures ensure the absence of prevent women and girls from achieving their full potential, with a focus on the following five priority areas: discrimination by providing fair and equal opportunities to all employees and applicants.
Propagating an inclusive workplace respecting Inclusive brand – All IN ensures diversity across distinctive skills, experiences, and perspectives the Group
Freedom from Violence Access to Grassroots Access to Freedom from Sensitivity towards inclusion strengthened across You are INtegral to the Edelweiss family and Discrimination Legal Justice Leadership Rights and Economic employees and leaders Your INdividualism makes you unique Entitlements Dependence Inclusion as a competitive advantage for Edelweiss Your opinions are INvaluable implemented through policies and practices You should speak up without INhibitions Supported 23 projects with 15 of EdelGive Foundation's NGO partners to protect women's rights You INspire others with your ideas You INvolve others to get a fresh perspective
PERFORMANCE MANAGEMENT
157,434 women and girls Formed 5,454 19,806 women and Supported 20,077 5,765 grassroot supported since 201819 SHGs/JLGs girls supported survivors of domestic leaders developed SMART Goal Midyear Annual Appraisal (114,934 in FY20) in their (454 SHGs/JLGs (4,313 in FY20) under violence and/or and supported Setting Review process fight for addressing gender in FY20) financial inclusion sexual violence (2,794 in FY20) equality related issues programme (8,508 in FY20) in their legal journey All eligible onroll employees Yearround assessment process Manager feedback sessions undergo a performance review conducted through “Train the Trainer” model WORKFORCE DISTRIBUTION
We have one of the better female workforce participation rates in the financial services industry in India. EMPLOYEE WELFARE Our diverse employee welfare programmes are designed to create an efficient, healthy and satisfied workforce. Proportion of female employees by Management level 21%
24% 23% 22% 22% 21% female employees 16% 15% 15% 15% in total workforce 13% as of March 31, 2020 Flexi Working Hours Work from Home Bereavement Leave Sabbatical Leave
19%
As a % of total As a % of new hires As a % of total exits employees as on Mar 2020 19% of the total Day care facility – Partnered Parental leave policy Kwench – Online library 1,773 contract staff with EuroKids at 49 centres availed by 317 facility availed by 27% to provide crèche facility employees in FY20 employees are females Junior Mid Senior
18 19 GENDER EQUALITY DECENT WORK AND ECONOMIC GROWTH
WOMEN EMPOWERMENT & GENDER EQUALITY INCLUSION AND WORKPLACE DIVERSITY
Our philanthropic initiative, EdelGive Foundation, is committed to addressing the social and economic inequalities that Edelweiss has experienced and diverse talent across different entities of the Group. Our procedures ensure the absence of prevent women and girls from achieving their full potential, with a focus on the following five priority areas: discrimination by providing fair and equal opportunities to all employees and applicants.
Propagating an inclusive workplace respecting Inclusive brand – All IN ensures diversity across distinctive skills, experiences, and perspectives the Group
Freedom from Violence Access to Grassroots Access to Freedom from Sensitivity towards inclusion strengthened across You are INtegral to the Edelweiss family and Discrimination Legal Justice Leadership Rights and Economic employees and leaders Your INdividualism makes you unique Entitlements Dependence Inclusion as a competitive advantage for Edelweiss Your opinions are INvaluable implemented through policies and practices You should speak up without INhibitions Supported 23 projects with 15 of EdelGive Foundation's NGO partners to protect women's rights You INspire others with your ideas You INvolve others to get a fresh perspective
PERFORMANCE MANAGEMENT
157,434 women and girls Formed 5,454 19,806 women and Supported 20,077 5,765 grassroot supported since 201819 SHGs/JLGs girls supported survivors of domestic leaders developed SMART Goal Midyear Annual Appraisal (114,934 in FY20) in their (454 SHGs/JLGs (4,313 in FY20) under violence and/or and supported Setting Review process fight for addressing gender in FY20) financial inclusion sexual violence (2,794 in FY20) equality related issues programme (8,508 in FY20) in their legal journey All eligible onroll employees Yearround assessment process Manager feedback sessions undergo a performance review conducted through “Train the Trainer” model WORKFORCE DISTRIBUTION
We have one of the better female workforce participation rates in the financial services industry in India. EMPLOYEE WELFARE Our diverse employee welfare programmes are designed to create an efficient, healthy and satisfied workforce. Proportion of female employees by Management level 21%
24% 23% 22% 22% 21% female employees 16% 15% 15% 15% in total workforce 13% as of March 31, 2020 Flexi Working Hours Work from Home Bereavement Leave Sabbatical Leave
19%
As a % of total As a % of new hires As a % of total exits employees as on Mar 2020 19% of the total Day care facility – Partnered Parental leave policy Kwench – Online library 1,773 contract staff with EuroKids at 49 centres availed by 317 facility availed by 27% to provide crèche facility employees in FY20 employees are females Junior Mid Senior
18 19 LEARNING AND DEVELOPMENT AWARDS AND RECOGNITIONS Our training and development initiatives enable our employees to enhance technical and behavioural skills that are required To acknowledge and appreciate star performers across the organisation, Edelweiss has several wellestablished internal awards for their professional and personal growth. and recognition programmes for employees.
87,548 hours of training undertaken in FY20 Average hours of training/employee by gender and by management level* 66.0 25 awardees from a competitive Risk and Compliance Awards 8.6 60 employees felicitated with pool of 4,000 online employee conducted inviting 8.5 the Long Service Awards for 8.2 8.2 completing 10,15 and 20 years applications, felicitated at Edelweiss's 115 nominations of which 8.1 in calendar year 2019 Annual Employee Recognition Programme – 13 were declared winners 3.1 TITANS 2019
FY 2020 FY 2020 CONTRIBUTION TO THE ECONOMY Male Female Overall Senior Mid Junior Overall Our goal at Edelweiss is to deliver maximum returns to our stakeholders while simultaneously having a positive impact on society * Avg. number of hours = Total Training hours / Number of employees at year end and economy. Our strength comes from the diversified business model, which provides our customers with varied financial products and services to meet their economic goals. 6.7% of employees belong to a Leadership Group at Edelweiss1
Diversified leadership development programmes: Employment provided by Edelweiss Supporting Small Enterprises
Programme Percentage of Particulars employee base Cohort of seniormost leadership Managing Committee 0.6% Custodian of culture, values and synergies across the Group (ManCo) 28% of the ManCo have tenure of more than 12 years Diverse workforce of 10,726 Financing working capital needs of small Customised loans to purchase employees as of March 31, 2020 entrepreneurs through business loans equipment/machinery to help SLs are the connective tissue of the organisation and form the bridge with average ticket size of r1.5 million micro and small enterprises build between strategy and execution across 99 locations their manufacturing capabilities Senior Structured engagement and development opportunities provided which 5.2% Leaders 2.1% include effective mentoring, regular SL huddles, informal breakfast meetings with the Chairman 50% of the SLs have a tenure greater than 5 years
Twoyear developmental journey for mid management employees 5.2% of the workforce Salary Advance product empowers Financed 2,500 Women Business is less than 25 years of age employees from the MSME sector to avail Entrepreneurs in FY20 Leaders 3.0% 150 hours of mentoring, 36 classroom sessions, 77 online lessons, an advance on their salary 8,750 total hours of learning recorded
Real estate infrastructure financing Affordable Housing Loans 2year developmental programme for young leaders at the start of their leadership journeys Emerging Leaders 0.9% Provide exposure to Edelweiss businesses and culture, foster leadership capabilities, as well as enable building an organisationwide network Serving 16,220 customers Average ticket size of homes ~51,000 units financed with an average household financed is ~`1.3 million across 96 projects ` ¹ Includes some employees who are part of the "Young Leaders" programme at Edelweiss Tokio Life Insurance income of ~ 0.55 million
Learning & Educational Assistance Programme (LEAP) Educational Assistance Policy adopted to facilitate adopted to enhance professional knowledge and educational progress of wards of employees through Average price of a flat in the financed Of the loans extended: projects is approximately R7.9 million promote talent – Provide tuition fee assistance to financial assistance – Availed by 162 employees and 45% of the customers are new to credit customers employees that wish to appear for listed certifications extended support worth `8 million Over 44% of individual customers are women and courses Over 75% of the loan book accounts for homes in tier 2 & tier 3 locations 20 21 LEARNING AND DEVELOPMENT AWARDS AND RECOGNITIONS Our training and development initiatives enable our employees to enhance technical and behavioural skills that are required To acknowledge and appreciate star performers across the organisation, Edelweiss has several wellestablished internal awards for their professional and personal growth. and recognition programmes for employees.
87,548 hours of training undertaken in FY20 Average hours of training/employee by gender and by management level* 66.0 25 awardees from a competitive Risk and Compliance Awards 8.6 60 employees felicitated with pool of 4,000 online employee conducted inviting 8.5 the Long Service Awards for 8.2 8.2 completing 10,15 and 20 years applications, felicitated at Edelweiss's 115 nominations of which 8.1 in calendar year 2019 Annual Employee Recognition Programme – 13 were declared winners 3.1 TITANS 2019
FY 2020 FY 2020 CONTRIBUTION TO THE ECONOMY Male Female Overall Senior Mid Junior Overall Our goal at Edelweiss is to deliver maximum returns to our stakeholders while simultaneously having a positive impact on society * Avg. number of hours = Total Training hours / Number of employees at year end and economy. Our strength comes from the diversified business model, which provides our customers with varied financial products and services to meet their economic goals. 6.7% of employees belong to a Leadership Group at Edelweiss1
Diversified leadership development programmes: Employment provided by Edelweiss Supporting Small Enterprises
Programme Percentage of Particulars employee base Cohort of seniormost leadership Managing Committee 0.6% Custodian of culture, values and synergies across the Group (ManCo) 28% of the ManCo have tenure of more than 12 years Diverse workforce of 10,726 Financing working capital needs of small Customised loans to purchase employees as of March 31, 2020 entrepreneurs through business loans equipment/machinery to help SLs are the connective tissue of the organisation and form the bridge with average ticket size of r1.5 million micro and small enterprises build between strategy and execution across 99 locations their manufacturing capabilities Senior Structured engagement and development opportunities provided which 5.2% Leaders 2.1% include effective mentoring, regular SL huddles, informal breakfast meetings with the Chairman 50% of the SLs have a tenure greater than 5 years
Twoyear developmental journey for mid management employees 5.2% of the workforce Salary Advance product empowers Financed 2,500 Women Business is less than 25 years of age employees from the MSME sector to avail Entrepreneurs in FY20 Leaders 3.0% 150 hours of mentoring, 36 classroom sessions, 77 online lessons, an advance on their salary 8,750 total hours of learning recorded
Real estate infrastructure financing Affordable Housing Loans 2year developmental programme for young leaders at the start of their leadership journeys Emerging Leaders 0.9% Provide exposure to Edelweiss businesses and culture, foster leadership capabilities, as well as enable building an organisationwide network Serving 16,220 customers Average ticket size of homes ~51,000 units financed with an average household financed is ~`1.3 million across 96 projects ` ¹ Includes some employees who are part of the "Young Leaders" programme at Edelweiss Tokio Life Insurance income of ~ 0.55 million
Learning & Educational Assistance Programme (LEAP) Educational Assistance Policy adopted to facilitate adopted to enhance professional knowledge and educational progress of wards of employees through Average price of a flat in the financed Of the loans extended: projects is approximately R7.9 million promote talent – Provide tuition fee assistance to financial assistance – Availed by 162 employees and 45% of the customers are new to credit customers employees that wish to appear for listed certifications extended support worth `8 million Over 44% of individual customers are women and courses Over 75% of the loan book accounts for homes in tier 2 & tier 3 locations 20 21 QUALITY EDUCATION EdelGive Foundation aspires to provide children with equal access to quality education, irrespective of background, gender and socio economic standing. We work in collaboration with government systems to achieve widespread, longterm change and empower the community to make this change sustainable. EdelGive Foundation broadly categorises its work around four priority areas: GOOD HEALTH AND WELLBEING
EMPLOYEE HEALTH AND SAFETY At Edelweiss, we care about the health, fitness and safety of our employees and make it our paramount commitment. School Early Childhood Innovation & Research & Transformation Education Experimentation Advocacy
Executed 17 education programmes, through 13 NGO partners of EdelGive Foundation
24.4% employees availed 56% employees availed free Medical practitioners visit premises Mediclaim benefit annual health checkup facility at a scheduled frequency
Worked for enhancing the Supported 17,575 schools Worked closely with and supported over 66,705 learning outcomes of 1,719,659 (5,747 in FY20) through the Teachers and Government officials (20,273 in (389,963 in FY20) children Quality Education Programme FY20) for delivering quality education
Partnership with Striders – 215 employees participated in RoundGlass Reach App used to promote 35 employees trained for the Run India Run Mumbai #FitWithEdelweiss pledge taken marathons in FY20 Monsoon Marathon by over 1,200 employees
REDUCED INEQUALITIES
Through contextual and targeted interventions developed by EdelGive Foundation's NGO partners, we are working to develop sustainable livelihood options for some of the most vulnerable communities, through systemic transformation in four focus areas: Enhancing worklife balance via Promote Fire safety site inspections, Edelcare; employees a Drug Free Workplace building evacuation drills and engaged in various initiatives fire safety training executed including fitness, health, sports at regular intervals and hobby pursuits Water for Financial Skill & Employability Skill Livelihood Inclusion Institutional Building Building
Through EdelGive Foundation’s NGO partners, we
Empowered and promoted the Supported 25,826 women Upskilled over 10,528 farmers social and economic inclusion of (9,719 in FY20) to get access to (5,438 in FY20) through various capacity farmers, women and youth rights and entitlements building training programmes in sustainable agricultural techniques
Achieved average 40% enhancement Supported 8 Farmer Producer Funded r432 million (r208 million in FY20) in annual income of farmers in FY20 Companies (FPCs) towards Sustainable Livelihood Programme 22 23 QUALITY EDUCATION EdelGive Foundation aspires to provide children with equal access to quality education, irrespective of background, gender and socio economic standing. We work in collaboration with government systems to achieve widespread, longterm change and empower the community to make this change sustainable. EdelGive Foundation broadly categorises its work around four priority areas: GOOD HEALTH AND WELLBEING
EMPLOYEE HEALTH AND SAFETY At Edelweiss, we care about the health, fitness and safety of our employees and make it our paramount commitment. School Early Childhood Innovation & Research & Transformation Education Experimentation Advocacy
Executed 17 education programmes, through 13 NGO partners of EdelGive Foundation
24.4% employees availed 56% employees availed free Medical practitioners visit premises Mediclaim benefit annual health checkup facility at a scheduled frequency
Worked for enhancing the Supported 17,575 schools Worked closely with and supported over 66,705 learning outcomes of 1,719,659 (5,747 in FY20) through the Teachers and Government officials (20,273 in (389,963 in FY20) children Quality Education Programme FY20) for delivering quality education
Partnership with Striders – 215 employees participated in RoundGlass Reach App used to promote 35 employees trained for the Run India Run Mumbai #FitWithEdelweiss pledge taken marathons in FY20 Monsoon Marathon by over 1,200 employees
REDUCED INEQUALITIES
Through contextual and targeted interventions developed by EdelGive Foundation's NGO partners, we are working to develop sustainable livelihood options for some of the most vulnerable communities, through systemic transformation in four focus areas: Enhancing worklife balance via Promote Fire safety site inspections, Edelcare; employees a Drug Free Workplace building evacuation drills and engaged in various initiatives fire safety training executed including fitness, health, sports at regular intervals and hobby pursuits Water for Financial Skill & Employability Skill Livelihood Inclusion Institutional Building Building
Through EdelGive Foundation’s NGO partners, we
Empowered and promoted the Supported 25,826 women Upskilled over 10,528 farmers social and economic inclusion of (9,719 in FY20) to get access to (5,438 in FY20) through various capacity farmers, women and youth rights and entitlements building training programmes in sustainable agricultural techniques
Achieved average 40% enhancement Supported 8 Farmer Producer Funded r432 million (r208 million in FY20) in annual income of farmers in FY20 Companies (FPCs) towards Sustainable Livelihood Programme 22 23 CLIMATE ACTION EdelGive Foundation works with grassroots organisations in remote parts of rural India to build resilience amongst communities.
WATERSHEDS AND LIVELIHOODS
Supported construction/repairs Brought under irrigation Supported 10,528 families Supported 9,447 farmers of 216 (148 in FY20) watershed 1,212 hectares of land (5,438 in FY20) (2,149 in FY20) for structures for water conservation (284 in FY20), for through sustainable climate smart agriculture/ Protecting the enhanced agriculture yield livelihood programmes organic farming
AFFORDABLE AND CLEAN ENERGY Environment We are committed to improving energy efficiency and increasing the proportion of renewable energy usage across our operations, through investments in sustainable energy solutions.
ENERGY CONSUMPTION AND SAVINGS *
8,819 8,115 164 Kwh/sq. mt. p.a. 148 Kwh/sq. mt. p.a.
50% 45% Building and supporting sustainable practices is the bedrock of our 2.3X stewardship towards protecting our environment. Edelweiss is committed 2020 2019 2020 2019 2020 2019 to adopting and supporting responsible usage of natural resources and Reduction in total Through energy consumption Proportion of renewable Electricity consumption electricity consumed optimisation initiatives, energy sources in total power through renewable sources safeguarding our environment and climate through varied initiatives by 8% in FY20 intensity reduced by 10% in FY20, consumption is 45% of the has increased 2.3x as across the Group. which is 19% lower than total power consumption compared to FY18 BEE standards
CLIMATE ACTION Renewable energy capacity AFFORDABLE AND CLEAN ENERGY 1.2 MW solar power captive generation installed capacity at Solapur generated 1,687 Mwh in FY20 RESPONSIBLE CONSUMPTION AND PRODUCTION Solar rooftop generation capacity of 0.06 MW at Fountainhead, Alibaug generated 54 Mwh in FY20 Wind Power Purchase Agreement (PPA) for 2.8 MW capacity generated 2,756 Mwh units in FY20
24 * Data for our 3 key locations Edelweiss House, Kohinoor House and Fountainhead (our leadership development centre) which comprises ~38% of our total workforce 25 CLIMATE ACTION EdelGive Foundation works with grassroots organisations in remote parts of rural India to build resilience amongst communities.
WATERSHEDS AND LIVELIHOODS
Supported construction/repairs Brought under irrigation Supported 10,528 families Supported 9,447 farmers of 216 (148 in FY20) watershed 1,212 hectares of land (5,438 in FY20) (2,149 in FY20) for structures for water conservation (284 in FY20), for through sustainable climate smart agriculture/ Protecting the enhanced agriculture yield livelihood programmes organic farming
AFFORDABLE AND CLEAN ENERGY Environment We are committed to improving energy efficiency and increasing the proportion of renewable energy usage across our operations, through investments in sustainable energy solutions.
ENERGY CONSUMPTION AND SAVINGS *
8,819 8,115 164 Kwh/sq. mt. p.a. 148 Kwh/sq. mt. p.a.
50% 45% Building and supporting sustainable practices is the bedrock of our 2.3X stewardship towards protecting our environment. Edelweiss is committed 2020 2019 2020 2019 2020 2019 to adopting and supporting responsible usage of natural resources and Reduction in total Through energy consumption Proportion of renewable Electricity consumption electricity consumed optimisation initiatives, energy sources in total power through renewable sources safeguarding our environment and climate through varied initiatives by 8% in FY20 intensity reduced by 10% in FY20, consumption is 45% of the has increased 2.3x as across the Group. which is 19% lower than total power consumption compared to FY18 BEE standards
CLIMATE ACTION Renewable energy capacity AFFORDABLE AND CLEAN ENERGY 1.2 MW solar power captive generation installed capacity at Solapur generated 1,687 Mwh in FY20 RESPONSIBLE CONSUMPTION AND PRODUCTION Solar rooftop generation capacity of 0.06 MW at Fountainhead, Alibaug generated 54 Mwh in FY20 Wind Power Purchase Agreement (PPA) for 2.8 MW capacity generated 2,756 Mwh units in FY20
24 * Data for our 3 key locations Edelweiss House, Kohinoor House and Fountainhead (our leadership development centre) which comprises ~38% of our total workforce 25 Energy saving initiatives:
Default ambient temperature of all public areas and meeting rooms set at 24°26°C as per BEE and government regulations 85% of fixtures Aut omatic switches Sleep mode and night converted from and sensors installed in mode lighting automation HVAC schedule running operation conventional lighting unmanned areas to enabled to conserve modified, reducing the unnecessary to LED reduce/optimise electricity usage of ACs energy consumption
RESPONSIBLE CONSUMPTION AND PRODUCTION We are committed to ensuring resource efficiency in our operations by responsibly managing waste and attempting to reduce the Greenhouse Gas (GHG) emissions, wherever possible. WATER CONSUMPTION *
Total water consumption reduced by 4% in FY20 Saved 0.73 Megalitres of water through Rainwater Harvesting Total water consumption Water consumption by source (Megalitres) (Megalitres) Reduction of water consumption 0.3 through Fine Aerators 8.2
Installed waterless pots at all urinals 59.9 62.4 51.4
2020 2019 8.8 Megalitres of waste and sewage Water consumption ThirdParty Ground Surface water has been recycled through a sewage treatment plant at Fountainhead
EMISSIONS * WASTE MANAGEMENT *
Reduction in total GHG emissions by 7% 3Rs of Waste Management, viz. Reduce, Reuse and and GHG intensity by 9% via effective carbon Recycle have been organically incorporated in our management initiatives in FY20 daytoday routines GHG emissions Kilotons Kg/sq.ft. p.a.
2.5 25.8 23.5 7.9 3.4 Plastic water bottle 32.4 tonnes of consumption reduced ewaste recycled by 8,500 bottles 2020 2019
Scope 1 Scope 2 Scope 3 GHG Intensity altian
Rationalized business travel requirements of employees thereby reducing our Air Fuel Emissions 7.34 tonnes of food waste 8.04 tonnes of paper waste by a healthy 11% FY20 converted into compost converted into green
by composting machine Edelweiss writing pads with Design by the help of associated NGOs 26 * Data for our 3 key locations Edelweiss House, Kohinoor House and Fountainhead (our leadership development centre) which comprises ~38% of our total workforce Energy saving initiatives:
Default ambient temperature of all public areas and meeting rooms set at 24°26°C as per BEE and government regulations 85% of fixtures Aut omatic switches Sleep mode and night converted from and sensors installed in mode lighting automation HVAC schedule running operation conventional lighting unmanned areas to enabled to conserve modified, reducing the unnecessary to LED reduce/optimise electricity usage of ACs energy consumption
RESPONSIBLE CONSUMPTION AND PRODUCTION We are committed to ensuring resource efficiency in our operations by responsibly managing waste and attempting to reduce the Greenhouse Gas (GHG) emissions, wherever possible. WATER CONSUMPTION *
Total water consumption reduced by 4% in FY20 Saved 0.73 Megalitres of water through Rainwater Harvesting Total water consumption Water consumption by source (Megalitres) (Megalitres) Reduction of water consumption 0.3 through Fine Aerators 8.2
Installed waterless pots at all urinals 59.9 62.4 51.4
2020 2019 8.8 Megalitres of waste and sewage Water consumption ThirdParty Ground Surface water has been recycled through a sewage treatment plant at Fountainhead
EMISSIONS * WASTE MANAGEMENT *
Reduction in total GHG emissions by 7% 3Rs of Waste Management, viz. Reduce, Reuse and and GHG intensity by 9% via effective carbon Recycle have been organically incorporated in our management initiatives in FY20 daytoday routines GHG emissions Kilotons Kg/sq.ft. p.a.
2.5 25.8 23.5 7.9 3.4 Plastic water bottle 32.4 tonnes of consumption reduced ewaste recycled by 8,500 bottles 2020 2019
Scope 1 Scope 2 Scope 3 GHG Intensity altian
Rationalized business travel requirements of employees thereby reducing our Air Fuel Emissions 7.34 tonnes of food waste 8.04 tonnes of paper waste by a healthy 11% FY20 converted into compost converted into green
by composting machine Edelweiss writing pads with Design by the help of associated NGOs 26 * Data for our 3 key locations Edelweiss House, Kohinoor House and Fountainhead (our leadership development centre) which comprises ~38% of our total workforce