BusinessWire India
Mumbai (Maharashtra) [India], May 15: VFS Global, the world's largest outsourcing and technology services specialist for governments and diplomatic missions, achieved new sustainability targets according to the Integrated Sustainability Report 2023, its fifth edition launched on 18 April 2024.
This report follows the Global Reporting Initiative (GRI) Standards, one of the most widely used and recognised global sustainability reporting frameworks. The report is also aligned with the United Nations Sustainable Development Goals (UN SDGs), United Nations Global Compact (UNGC), and the Sustainability Accounting Standards Board (SASB) for Professional and Commercial Services Sector.
VFS Global's sustainability strategy is based on five fundamental pillars - Contributing to Sustainable Economic Growth, Good Governance, Nurturing Colleagues, protecting our Environment, and Supporting our Communities.
"As a responsible corporate citizen, VFS Global steadfastly continued its efforts to embed sustainability into its business practices, organisational culture, and strategic goals. Our ability to make a measurable difference every year has been the primary factor that sets VFS Global apart. We remain deeply committed to continuously enhancing value for all our valued stakeholders, including the society at large, and in an efficient, secure and sustainable manner," said Zubin Karkaria, Founder and Chief Executive Officer, VFS Global.
"The launch of the 5th Integrated Sustainability Report is a testament to the collective efforts of our workforce, partners, and stakeholders driving positive change. This report details the impact of our ESG initiatives and serves as a roadmap for our continued progress towards a more sustainable future," said Shireen Mistree, Head - ESG, VFS Global.
ISR 2023 Highlights
Sustainable Economic Growth
* 25% YoY growth in the revenue from our contracts with our customers.
* Increased accessibility by serving 149 countries across five continents.
* 35% increase in number of applications processed.
* Expanded service portfolio by securing seven global contracts, including the UK Visa and Immigration, the Department of Home Affairs in Australia, and the government of Saudi Arabia.
* Overall customer satisfaction score of 95%.
Delivering Good Governance
* Data protection training completed for 100% of our global workforce ensuring long-term sustainability and data security, while demonstrating exceptional governance.
Nurturing Our Colleagues
* Expanding the global workforce by 24% from 8,883 in 2022 to 10,976 in 2023.
* Maintaining a healthy woman to men ratio of 54:46.
* Employee training hours of 338,023 recorded in 2023, an increase of 86% over 2022.
* Maintaining a diverse and inclusive global workforce comprising 129 nationalities.
Protecting Our Environment
* The company was certified under 'ISO 14001:2015 - Environmental Management Systems', focusing on reducing its environmental footprint through energy efficiency, renewable energy adoption, waste management, and water conservation.
* In support of its one million trees campaign, the company made significant progress by planting 200,000 trees and furthering its reforestation efforts.
* Switching 76% of electricity to green energy through VCS certified carbon credits and reducing 72% of Scope 1 and Scope 2 combined GHG emissions over 2019 baseline.
* Emissions of 10,000 tCO2e offset through VCS certified carbon credits.
Supporting Our Communities
* A 60% increase in CSR spending compared to 2022, and an 88% increase in the number of CSR projects.
* Expanded CSR programmes in Australia, Indonesia, Jordan, and South Africa through strategic investments in targeted community programmes.
* Over 3,000 volunteers cumulatively clocked more than 7,400 hours of community service.
* The company was honoured with five awards in forums across the Middle East and South Asia for its community programmes and employee volunteering initiatives.
* More than 21,000 direct beneficiaries of CSR initiatives across 74 countries.
The full report is available on our website www.vfsglobal.com.
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