Fulfilling Aspirations, Sustainably and Responsibly
SUSTAINABILITY REPORT 2021-22
About the report
Since we published our first Sustainability Report last year, ESG (Environment, Social, and Governance) issues gained even more prominence. ESG discussions and considerations are into the board rooms, with companies looking at incorporating ESG into their business strategies.
Scope and boundary
The Report covers the operations of IIFL Finance along with its subsidiaries: IIFL Home Finance Limited (hereafter referred to as 'IIFL Home Finance', 'IIFL HFL') and IIFL Samasta Microfinance Limited (hereafter referred to as 'IIFL Samasta').
Responsibility statement
The content of this Report is prepared by the senior management of IIFL Finance, and reviewed and approved by the Board of Directors to ensure accuracy, completeness and relevance of the information presented.
At IIFL Finance, we look at the Sustainability Report not just as a disclosure requirement but also as a strategic tool that enables us in integrating sustainability within our operations. Thus, creating shared value for all stakeholders. We are committed to:
Utilizing our products to create positive social and environmental impacts
Making meaningful contributions towards communities, especially the underserved
Mitigating sustainability risks
Reducing our environmental footprint
Cascading sustainable practices within our business and supply chain partners
Reporting principles and frameworks
This Report has been developed with reference to the Global Reporting Initiative (GRI) Standards: Core Option and additional relevant standards as prescribed by Sustainability Accounting Standards Board (SASB). The
Report has also adopted the capital accounting approach as provided in the Integrated Reporting framework prescribed by the International Integrated Reporting Council (IIRC).Forward-looking statement
This Report contains statements about expected future events and financials of IIFL Finance and Group companies, which are forward-looking. By their nature, forward-looking statements require us to make assumptions
and are subject to inherent risks and uncertainties. There is significant risk that the assumptions, predictions, and other forward-looking statements may not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results and events to differ materially from those expressed in the forward-looking statements.
Accordingly, IIFL Finance (hereafter referred to as 'IIFL', 'we' or the 'Company') is pleased to present the Company's second Sustainability Report. Through this Report, we intend to provide a holistic communication of IIFL non- financial performance. The Report is interlinked with important reports of subsidiary companies of IIFL.
External assurance
The content and data disclosed in this Report is externally assured by BDO India LLP as per AA1000 Assurance Standard v3 (2020) - Type 2.
We welcome your feedback on our Report and performance at ir@iifl.com, csteam@ iifl.com.
Scan to download
Please find our online version at:https://www.iifl.com/
Fulfilling aspirations, responsibly and sustainably
The financial services sector is currently navigating a changing world where there is rising expectation to be conscious of the responsible use of resources. Those organizations that pivot around their purpose and prioritize ESG initiatives have the potential to unlock immense value for business and communities. Responsible conduct of business has always been an intrinsic part of IIFL Finance's operations and in FY 2020-21, we started reporting on our ESG performance. We are integrating sustainability as an important aspect across various stages of our operations including product development, community engagement, environmental footprint, and risk management.
As we incorporate environmental consciousness to reduce our footprint, we continue to strengthen our focus on responsible lending and financial inclusion. We are proud to be driving financial inclusion across the country. Within the organization, we create a culture of inclusivity that invests in the growth and well-being of our employees. Our digitalization initiatives have paved the way for greater reach and paperless processes.
We are confident that our commitment and investments in ESG initiatives over time will be instrumental in our pursuit of value creation for the people whose lives we touch, and the planet at large.
Navigating this report
Our capitals
Financial Physical Intellectual
Human | Social & | Natural |
relationship |
Our stakeholders
Customers | Investors/ |
Shareholders | |
Community/ | Government/ |
NGOs | Regulators |
Employees | Business partners/ |
Suppliers | |
IIFL Home Loan | IIFL Group | IIFL Home Loan | IIFL Home Loan | IIFL Finance |
IIFL Foundation | IIFL Home Loan | IIFL Finance | IIFL Finance | IIFL Group |
IIFL Finance | IIFL Live | IIFL Home Loan | ||
IIFL Corporate | ||||
IIFL Commodities | ||||
Click above links to visit |
What's inside
01 | Who we are? | |
Introducing IIFL Finance | 06 | |
Our product offerings | 08 | |
Our reach | 10 |
02 | How we performed | |
Message from the Managing Director | 14 | |
Message from the Director, IIFL Foundation | 16 | |
Year in review | 18 | |
Awards and recognition | 20 |
03 | How we create value | |
Our value-creation model | 24 | |
Interlinkages between the capitals | 26 | |
Integrating sustainability in our business | 28 |
04 | ESG in action at IIFL | |
Economic growth | 40 | |
Sustainable financing | 42 | |
Governance and ethical behavior | 48 | |
Serving our customers | 55 | |
Nurturing our workforce | 62 | |
Community relationships | 70 | |
Environmental stewardship | 78 | |
Annexure 1: GRI content index | 81 |
Our
reporting suite
Report
Sustainability Report
Provides an overview of our ESG performance at a consolidated level
Intended readers Navigation tools
Primarily for ESG analysts, investors, community; relevant to all stakeholders
IIFL Finance Annual Report FY 2021-22 | Investors, regulators | ||
Discusses the financial and non-financial | and debt providers; | Click here to | |
performance of the lending business in the year, along | relevant to all | view Report | |
with the road ahead | stakeholders | ||
IIFL Home Finance Annual Report FY 2021-22 | Investors, regulators |
Discusses the financial and non-financial | and debt providers; |
performance of the home finance business in the | relevant to all |
year, along with the road ahead | stakeholders |
IIFL Home Finance Sustainability Report FY | Primarily for ESG |
2021-22 | analysts, investors, |
Discusses the ESG performance of the home finance | community; relevant to |
business in the year, along with the road ahead | all stakeholders |
IIFL Samasta Microfinance Annual Report FY | Investors, regulators |
2021-22 | and debt providers; |
Discusses the financial performance of the microfinance | relevant to all |
business in the year, along with the road ahead | stakeholders |
IIFL Samasta Microfinance Sustainability | Primarily for ESG |
Report FY 2021-22 | analysts, investors, |
Discusses the ESG performance of the microfinance | community; relevant to |
business in the year, along with the road ahead | all stakeholders |
Click here to view Report
Click here to view Report
Click here to view Report
Click here to view Report
Attachments
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Disclaimer
IIFL Finance Ltd. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2023 12:17:59 UTC.