Company: Espria Limited
Founder: David Michael Davis
Website: https://espria.com
About Espria Limited
Following the acquisition of eacs in June 2022, managed service provider Mode Solutions, repositioned and rebranded as Espria with sustainability identified as a key differentiator. As part of our commitment to sustainability Espria established a cross-discipline team to lead our ESG drive.
The ESG Committee was tasked with providing a catalyst for growth and risk reduction, driving measurable sustainability improvements, and informing core business processes, the development of a common culture and integrating ESG into our governance would be manifested. The team was resourced from Operations, Compliance, Marketing and Administration.
Working with Sustainable Advantage, to leverage their extensive expertise with ESG transformation strategies, Espria initiated a six-week diagnostic study and comprehensive analysis of the business. Key stakeholders were engaged, core documentation reviewed and the facets of sustainability that were materially important to customers, employees, investors, regulators and other stakeholders identified.
In August 2023, Espria re-engaged Sustainable Advantage to conduct a second review which evidenced significant progress, encompassing activities, processes and policies implemented since the initial scoring. For this second review, Espria achieved 63% which places the company in the top banding; a classification of ‘ESG Excellent’.
Key highlights:
• Espria is Carbon Neutral
• Espria sites are on 100% renewable energy contracts
• A Green Champion encourages employees to reduce energy consumption and waste
• A Diversity, Equality and Inclusion Plan is in place. A quarterly gender pay gap report is published, demonstrating fair pay across the business
• The ESG committee meets every 2 weeks and ESG training is conducted with all employees
• Espria has excellent Governance policies in place, including a policy review management system
• ESG risks to the business are identified and a Business Continuity Plan has been developed
• ESG targets have been set; data is collected, monitored and monthly progress is tracked
• An ESG Strategy has been published
• Espria has set further actions to undertake over the next 12 months which align with a new target score of 83%.
The team has been able to leverage high quality data through the Sustainable Advantage ESG Performance Tracker. The team are now able to measure and report ESG data and KPIs in real time, sharing highlights internally and externally, in core documentation, social media posts and directly with customers.
Utilising the ESG performance trackers and the top 5 metrics designated by our investors, Black Rock, Espria have been able to increase stakeholder value. Each quarter, Espria has taken a snapshot of progress towards achieving these KPIs and by drilling into each Priority Action area, BlackRock is able to ascertain:
• the Espria person responsible for this action
• what they need to do to reach the target score
• any progress notes and evidence to support the outcome.
As well as these initiatives, Espria plan to launch others as we transform the way we operate. With stakeholder value being created and maximised, Espria is in a far better position to respond to stakeholder demands from investors, clients and employees, as it creates a resilient, sustainable business ready for future changes in the regulatory landscape.
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