Invictus Investment Company Plc (ADX: INVICTUS), a leading agro-food enterprise in the Middle East, Africa and Asia, today announced the publication of its inaugural Environmental, Social and Governance (ESG) report for the 12 months ended December 31, 2023. Prepared in accordance with the standards of the Global Reporting Initiative (GRI), the report serves as a foundation for Invictus Investment’s future sustainability efforts, and outlines the Company’s ESG framework, performance and initiatives across three core pillars: Environmental Stewardship, Social Empowerment, and Ethical Governance and Partnerships.
With total assets valued at AED 2.6 billion across its operations in 50 countries, Invictus Investment is committed to a robust ESG approach to ensure its alignment with global best practices, local community needs and its long-term sustainable growth. The Company’s ESG practices are firmly embedded in its corporate values and growth strategy, which are geared towards transforming the business into a fully integrated agro-food enterprise that creates value for all stakeholders and drives positive change.
Commenting on the report, Amir Daoud Abdellatif, CEO of Invictus Investment, said: “The publication of our inaugural ESG report marks a significant step in our sustainability journey and underscores our commitment to environmental stewardship, social responsibility and ethical business practices. As we continue to expand our global footprint and enhance our supply chain capabilities, we remain dedicated to integrating ESG principles into every facet of our business to create value for our stakeholders and contribute to the well-being of the communities we serve. With this first report, we have set a benchmark to guide our progress along the path of advancing our sustainability efforts and managing ESG risks, which we firmly believe is an essential step to achieving long-term success and prosperity.”
Key highlights from the report include:
Environmental Stewardship
In 2023, Invictus Investment took a significant step towards understanding its environmental impact by conducting its first carbon footprint assessment. The Company reported Scope 1 emissions of 58,882.8 kg CO2e and Scope 2 emissions of 185,897.4 kg CO2e, providing a baseline for future emission reduction strategies. In addition, Invictus Investment measured its electricity and water consumption at 476,660 kWh and 500,720 litres, respectively, to serve as benchmark for future targets. Armed with these insights, the Company will implement measures to ensure responsible energy and water management, and encourage its employees to adopt eco-friendly practices across the business.
Social Empowerment
Invictus Investment is committed to fostering a diverse, equitable and inclusive workplace and investing in the development of its workforce. This commitment aligns with the Company’s corporate goal of achieving a balanced representation across all levels of the organisation and the UAE’s national agenda of promoting gender equality and empowering women in the workforce. In 2023, women constituted 26.3% of the total workforce and held 9% of senior management positions at Invictus Investment. The Company also focused on attracting young talent, with 38% of new hires between ages 18-30 and 60.9% between the ages of 31-50. To support the growth and development of its employees, Invictus Investment delivered a total of 1,017 hours of training in 2023, and invested AED 591,000 in the process.
Building on this, Invictus Investment has set clear objectives for 2024, which include enhancing its diversity recruitment efforts to further align with its corporate targets, ensuring compliance with updated HR policies to foster a fair and inclusive work environment, as well as implementing employee engagement surveys to track well-being indicators and promote a positive workplace culture.
Ethical Governance and Partnerships
Invictus Investment has established a robust corporate governance framework, with zero cases of corruption, governance-related grievances, customer privacy breaches and anti-competitive behaviour in 2023. The Company requires rigorous ethical standards in its supply chain, with 100% of suppliers certifying compliance with its code of conduct and 25% of new suppliers screened using environmental and social criteria. Looking ahead, Invictus Investment aims to further strengthen its governance practices and foster responsible partnerships by continuously reviewing and enhancing its policies, procedures and risk management strategies.
As Invictus Investment continues to make strides in its ESG journey, the Company remains committed to further embedding sustainable practices across its operations. By aligning its ESG objectives with its long-term growth strategy and focusing on sustainability and risk management, Invictus Investment is well-positioned to achieve its goal of becoming a fully integrated agro-food leader while creating strategic value for all stakeholders.
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