2022 Communication on Progress

Verod Capital Management Limited

Published date

June 28, 2022

No. of questions

63

Supplemental files

CEO Statement

Signed

  • Governance

    Policies and Responsibilities

    1. Does the Board / highest governance body or most senior executive of the company:

    Optional comment
    Statement related to impacts, people and environment is incorporated as part of Verod's annual priorities set by the senior leadership of the firm

    2. Does the company have a publicly stated commitment regarding the following sustainability topics?

    No, this is not a current priority

    No, but we plan to have a commitment within 2 years

    Yes, and the commitment is focused on our own operations

    Yes, and the commitment includes our own operations and the value chain

    Yes, and the commitment includes our own operations and the value chain along with communities and society

    Human Rights

    Labour Rights / Decent Work

    Environment

    Anti-Corruption

    Optional comment
    Verod reinforces its commitment to the above and communicates same through its website and public report it submits to the UNPRI and UNGC (this CoP)

    3. Does the company have in place a code of conduct regarding each of the following sustainability topics?

    No, this is not a current priority

    No, but we plan to have a code of conduct within two years

    Yes, focused on employee conduct

    Yes, focused on employees and suppliers

    Yes, focused on employees, suppliers, and other business relationships

    Human Rights

    Labour Rights / Decent Work

    Environment

    Anti-Corruption

    Optional comment
    Our HR handbook embodies all principles related to labor rights; while there is a stand alone document capturing suppliers' E&S mandatory clauses

    4. Has the company appointed an individual or group responsible for each of the following sustainability topics?

    No one is specifically responsible for this topic

    Yes, with limited influence on outcomes (e.g., limited access to internal information, limited decision-making authority)

    Yes, with moderate influence on outcomes (e.g., has access to relevant information, reports to senior manager)

    Yes, with direct influence of some outcomes (e.g., has access to relevant information, includes one or more senior manager with decision making rights

    Yes, with direct influence at the highest levels of the organization (e.g., has access to relevant information, includes most senior members of organization)

    Human Rights

    Labour Rights / Decent Work

    Environment

    Anti-Corruption

    5. Does the company have a formal structure(s) (such as a cross-functional committee) to address each of the following sustainability topics?

    No formal structure

    Yes, and with limited influence on outcomes (e.g., limited access to internal information necessary to understand risks, poor representation from relevant departments or functions)

    Yes, with moderate influence on outcomes (e.g., it includes representatives of some functions, departments, or business units most relevant for addressing the risks concerned, has access to relevant information, reports to senior manager)

    Yes, with direct influence on some outcomes (e.g., it includes representatives of functions, departments, or business units most relevant for addressing the risks concerned, has access to relevant information, it involves one or more members of senior management)

    Yes, and with direct influence at the highest level of the organization (e.g., full access to relevant information, it involves members at highest level of organization)

    Human Rights

    Labour Rights / Decent Work

    Environment

    Anti-Corruption

    Optional comment
    The above topics are cross-functionally managed but not necessarily by a committee

    Prevention

    6. Does the company have a process or processes to assess risk?

    No, this is not a current priority

    No, but we are planning to develop one in the next two years

    Yes, related to our own operations

    Yes, related to our own operations and entire value chain and other business relationships

    Human rights risks

    Labour rights risks

    Environmental risks

    Corruption risks

    Optional comment
    In addition to internal governance process for risk assessment; Verod undertakes various due diligence exercises (ESG, Business Integrity, Commercial etc.) to assess risk associated with its partner companies

    6.1. During the assessment of risk, which business relationships are reviewed?

    A few suppliers or business relationships [approximately less than 25 %]

    Several suppliers / business relationships (i.e., first tier or other high priority) [approx. 25 - 50 %]

    Most suppliers / relevant business relationships [approx. 51 - 99 %]

    All suppliers / relevant business relationships outside the supply chain

    Human rights risks

    Labour rights risks

    Environmental risks

    Corruption risks

    7. Does the company have a due diligence process through which it identifies, prevents, mitigates, and accounts for actual and potential negative impacts on sustainability topics?

    No, this is not a current priority

    No, but we are planning to develop one in the next two years

    Yes, related to our own operations

    Yes, related to our own operations and entire value chain and other business relationships

    Human rights risks

    Labour rights risks

    Environmental risks

    Corruption risks

    Optional comment
    Verod carries out due diligence assessment for all of its transactions

    7.1. During the due diligence process, which business relationships are reviewed?

    A few suppliers or business relationships [approximately less than 25 %]

    Several suppliers / business relationships (i.e., first tier or other high priority) [approx. 25 - 50 %]

    Most suppliers / relevant business relationships [approx. 51 - 99 %]

    All suppliers / relevant business relationships outside the supply chain

    Human rights risks

    Labour rights risks

    Environmental risks

    Corruption risks

    Concerns and grievance mechanisms

    8. Are there any processes through which members of the company’s workforce can raise concerns about the company’s conduct related to human rights, labour rights, environment, or anti-corruption?

    Optional comment
    Verod has a well established whistleblowing procedure including external communication framework. The entire framework is such that external interested parties can conveniently use to provide feedback or complaints to the company

    8.1. Please provide additional detail regarding the process(es) the company has through which members of the company’s workforce can raise concerns about the company’s conduct.

    No

    Yes

    Is the process communicated to all employees/workers in local languages?

    Is the process available to non-employees (e.g., contractors, vendors, suppliers)?

    Is the process confidential (e.g., whistleblowing process)?

    Are there processes in place to avoid retaliation?

    Can concerns be raised about suppliers or other business relationships (e.g., clients, partners, etc.)

    Other (Please provide additional information)

    Optional comment
    Verod has a well established whistleblowing procedure including external communication framework. The entire framework is such that external interested parties can conveniently use to provide feedback or complaints to the company

    9. Does the company provide or enable access to effective remedy to right holders / stakeholders where it has caused or contributed to the adverse impact?

    No process to enable remedy to stakeholders

    Remedy available to some stakeholders (i.e., some geographies, employees only)

    Remedy is available to all affected stakeholders

    Remedy is available to all stakeholders, and suppliers are expected to have similar policies

    Human Rights

    Labour Rights / Decent Work

    Environment

    Anti-Corruption

    Lessons

    10. How does the company capture lessons regarding each of the following sustainability topics?

    No lessons are regularly captured

    Conducts root cause analyses/investigation of major incidents

    Conducts root cause analyses/investigation and changes organizational policies, processes, and practices accordingly

    Systematically conducts root cause analyses/investigation and leverages learnings to influence both internal and external affairs

    Human Rights

    Labour Rights / Decent Work

    Environment

    Anti-Corruption

    Executive Pay

    11. Is executive pay linked to performance on one or more of the following sustainability topics?

    No, and we have no intention to change

    No, but we plan to within two years

    Yes

    Human Rights

    Labour Rights / Decent Work

    Environment

    Anti-Corruption

    Board Composition

    12. Percentage of individuals within the company’s Board / highest governance body by:

    Number/Percentage

    Not applicable (Please provide additional information)

    Total number of board members (#)

    109

    Male (%)

    82

    Female (%)

    18

    Non-binary (%)

    Under 30 years old (%)

    30-50 years old (%)

    Above 50 years old (%)

    From minority or vulnerable groups (%)

    Executive (%)

    Independent (%)

    Optional comment
    Many of the above criteria are not currently tracked

    13. Do you produce sustainability reporting according to:

    UNPRI, LPs, UNGC CoP

    Data Assurance

    14. Is the information disclosed in this questionnaire assured by a third-party?

    Optional comment
    Data is internally verified and is available for external verification where needed

  • Human Rights

    Materiality / Saliency

    1. Which of the following has the company identified as material human rights issues connected with its operations and/or value chain, whether based on their salience (i.e., the most severe potential negative impacts on people) or another basis?

    Optional comment
    The above response is with respect to our partner companies

    Response

    8. Briefly describe practical actions the company has taken during the reporting period and/or plans to take to implement the human rights principles, including any challenges faced and actions taken towards prevention and/or remediation.

    Verod in collaboration with Ergon Associates (a UK based Consultant) conducted a workshop on Labour, Human Rights and Working Conditions. The workshop targeted the relevant audience within Verod's partner company network and featured topics related to labour rights, working conditions especially those related to local regulations and ILO standards etc. The aim was to build capacity towards improved management of labour issues and ensure preventive actions are prioritized all the time. In addition, human rights principles are also part of the focus areas for all due diligence assessment conducted during the period

  • Labour

    Commitment

    1. Does the company have a policy commitment in relation to the following labour rights principles?

    No, and we have no plans to develop a policy

    No, but we plan to in the next two years

    Yes, included within a broader policy

    Yes, articulated as a stand-alone policy

    Not applicable (Please provide additional information)

    Freedom of association and the effective recognition of the right to collective bargaining

    This is not prohibited but at same time not necessarily applicable or warranted in view of the nature of Private Equity industry - highly professional environment and usually small workforce size. Our partner companies, in line with local regulations do not also prohibit the exercise of this right especially where it is naturally applicable

    Forced labour

    March 2022

    Child labour

    Statement of commitment on child labor is articulated as part of the Employee Handbook

    Non-discrimination in respect of employment and occupation

    March 2022

    Occupational safety and health

    March 2022

    Working conditions (wages, working hours)

    March 2022

    1.1. For each labour rights policy, is it:

    Aligned with international labour standards?

    Publicly available?

    Approved at most senior level of the company?

    Applied to the company’s own operations?

    Applied to the company’s supply chain and/or other business relationships?

    Developed involving labour rights expertise from inside and outside the company?

    Other (Please provide additional information)

    Freedom of association and the effective recognition of the right to collective bargaining

    Forced labour

    Child labour

    Non-discrimination in respect of employment and occupation

    Occupational safety and health

    Working conditions (wages, working hours)

    Prevention

    2. In the course of the reporting period, has the company engaged with affected stakeholders or their legitimate representatives in relation to the following labour rights issues?

    No engagement on this topic

    To better understand the risks/ impacts in question

    To discuss potential ways to prevent or mitigate the risks/ impacts in question

    To agree on a way to prevent/ mitigate the risks/ impacts in question

    To assess progress in preventing/ mitigating the risks /impacts in question

    To collaborate in the prevention/ mitigation of the risks/ impacts in question

    Other (Please provide additional information)

    Freedom of association and the effective recognition of the right to collective bargaining

    Not directly applicable

    Forced labour

    We have not recorded any incident with regard to forced labour, hence, no cause of action to warrant the said engagement

    Child labour

    We have not recorded any incident with regard to child labour, hence, no cause of action to warrant the said engagement

    Non-discrimination in respect of employment and occupation

    We have not recorded any incident with regard to this, hence, no cause of action to warrant the said engagement

    Occupational safety and health

    Working conditions (wages, working hours)

    3. What type of action has the company taken in the reporting period with the aim of preventing/mitigating the risks/impacts associated with this labour rights issue?

    Provided internal training/ capacity building for the direct workforce

    Building capacity among relevant business relationships (e.g., partners, suppliers, clients, etc.)

    Conducting an audit process and/or corrective action plan

    Collective Action with peers or other stakeholders, in particular workers' organizations, to address the issue

    Collaboration with governmental or regulatory bodies

    Other (Please provide additional information)

    No action within reporting period

    Freedom of association and the effective recognition of the right to collective bargaining

    Forced labour

    Child labour

    Non-discrimination in respect of employment and occupation

    Occupational safety and health

    Working conditions (wages, working hours)

    4. Who receives training for the following labour rights issues?

    No training provided

    Select employees

    All employees

    Contractors

    Direct suppliers of the organization

    Indirect suppliers of the organization

    Other – such as partners, clients, etc.

    Freedom of association and the effective recognition of the right to collective bargaining

    Forced labour

    Child labour

    Non-discrimination in respect of employment and occupation

    Occupational safety and health

    Working conditions (wages, working hours)

    5. How does the company assess progress in preventing/mitigating the risks/impacts associated with the following labour rights issues?

    No monitoring of progress

    Review issues on ad-hoc basis

    Set annual targets/ goals, track progress over time (internal programs only)

    Set annual targets/ goals, track progress over time (internal and external programs)

    Other (Please provide additional information)

    Freedom of association and the effective recognition of the right to collective bargaining

    Forced labour

    Review of ESG performance on quarterly basis

    Child labour

    Review of ESG performance on quarterly basis

    Non-discrimination in respect of employment and occupation

    Review of ESG performance on quarterly basis

    Occupational safety and health

    Review of ESG performance on quarterly basis

    Working conditions (wages, working hours)

    Review of ESG performance on quarterly basis
    Optional comment
    Verod undertakes Quarterly portfolio monitoring to track progress and holds review meetings regularly to assess performance and set new action plans for continual improvement

    Performance

    6. What is the percentage of employees covered under collective bargaining agreements?

    Percent of employees (%)

    Unknown

    Employees covered under collective bargaining (%)

    0
    Optional comment
    For partner companies where this is applicable, 50 - 55% of employees are covered

    7. What is the percentage of employees in a trade union or other workers' organization?

    Percent of employees (%)

    Unknown

    Not applicable (Please provide additional information)

    Employees in a trade union or on a worker committee (%)

    Not applicable to PE firms

    8. In the course of the reporting period, what was the percentage of women in:

    Percent of women (%)

    Unknown

    Senior leadership level position

    31

    Non-executive board

    Optional comment
    The above figure represents average percentage of females in senior leadership position across Verod's partner companies

    9. What was the average ratio of the basic salary and remuneration of women to men (comparing jobs of equal value) during the reporting period?

    Salary ratio (%)

    Unknown

    Choose to not disclose

    Women / Men (%)

    Optional comment
    Not determined at the time of filling this form

    10. In the course of the reporting period, how frequently were workers injured (injuries per hour worked)?

    Frequency of injury

    Unknown

    Choose to not disclose

    Frequency of injury

    0.38
    Optional comment
    Figure above based on data collected from Verod's portfolio companies

    11. In the course of the reporting period, what was the company’s incident rate?

    Incident rate

    Unknown

    Choose to not disclose

    Incident rate

    0.4
    Optional comment
    Figure above based on data collected from Verod's portfolio companies

    Response and Reporting

    12. In the course of the reporting period, has the company been involved in providing or enabling remedy where it has caused or contributed to the adverse impact associated with the following labour rights issues?

    Yes

    No

    Choose to not disclose

    Not applicable (Please provide additional information)

    Freedom of association and the effective recognition of the right to collective bargaining

    Not applicable to PE firms. Handled at the portfolio level

    Forced labour

    No forced labour incident was reported

    Child labour

    No child labour incident was reported

    Non-discrimination in respect of employment and occupation

    No case of discrimination was reported

    Occupational safety and health

    Working conditions (wages, working hours)

    13. Briefly describe practical actions the company has taken during the reporting period and/or plans to take to implement the labour rights principles, including any challenges faced and actions taken towards prevention and/or remediation.

    Verod focused on capacity building to ensure: 1. there is adequate awareness of the tenets of labour rights by the entire workforce. 2. key staff in positions of authority understand their roles in promoting labour rights in the workplace 3. there is senior leadership buy-in and support to drive labour rights across the operations

  • Environment

    Commitment

    1. Does the company have a formal policy on the following environmental topics?

    No, and we have no plans to develop a policy

    No, but we plan to in the next two years

    Yes, included within a broader policy

    Yes, articulated as a stand-alone policy

    Not applicable (Please provide additional information)

    Climate Action

    Climate Action is incorporated into Verod's Environmental & Social Management System (ESMS) Policy. This policy was reviewed in Jan 2022

    Water

    Verod water footprint at the Fund Manager level is quite insignificant; however, policies exist at our partner companies that address water related issues especially those that have significant operational footprints

    Oceans

    Forests / Biodiversity / Land Use

    This is addressed at partner companies where it is applicable

    Air Pollution

    Air pollution is a regulatory issue especially in operations where it is identified as a significant environmental aspect. In view of this, our partner companies especially those with signification footprint have policies and other measures to address air pollution and also comply with the applicable local regulatory air quality standards.

    Waste (e.g., chemical spills, solid waste, hazardous, plastic, etc.)

    Waste management, similar to air pollution is also a local regulatory issue and essentially an important environmental aspect in the operation of all our partner companies. It is therefore a vital consideration during DDs and all our partner companies have policies and other management programs that ensure sound management of waste materials at their various operations

    Energy & Resource Use

    2022

    1.1. For each environmental policy, is it:

    Aligned with international environmental standards?

    Publicly available?

    Approved at most senior level of the company?

    Applied to the company’s own operations?

    Applied to the company’s supply chain and/or other business relationships?

    Developed involving environmental expertise from inside and outside the company?

    Other (Please provide additional information)

    Climate Action

    Water

    Oceans

    Forests / Biodiversity / Land Use

    Air Pollution

    Waste (e.g., chemical spills, solid waste, hazardous, plastic, etc.)

    Energy & Resource Use

    Prevention

    2. In the course of the reporting period, has the company engaged with affected stakeholders or their legitimate representatives in relation to the following environmental issues?

    No engagement on this topic

    To better understand the risks/ impacts in question

    To discuss potential ways to prevent or mitigate the risks/ impacts in question

    To agree on a way to prevent/ mitigate the risks/ impacts in question

    To assess progress in preventing/ mitigating the risks/ impacts in question

    To collaborate in the prevention/ mitigation of the risks/ impacts in question

    Other (Please provide additional information)

    Climate Action

    No occasion has warranted such engagement

    Water

    No occasion has warranted such engagement

    Oceans

    This is not applicable to our operations

    Forests / Biodiversity / Land Use

    No occasion has warranted such engagement

    Air Pollution

    Waste (e.g., chemical spills, solid waste, hazardous, plastic, etc.)

    Energy & Resource Use

    Optional comment
    Verod through some of its partner companies periodically engage with the relevant local regulators on issues related to air pollution and waste management. The engagements mostly take place during supervision visits, and through submissions of environmental compliance reports and reviews. These reports detail actions the partner companies take in order to mitigate potential adverse conditions associated with air pollution and waste management

    3. What type of action has the company taken in the reporting period with the aim of preventing/mitigating the risks/impacts associated with these environmental topics?

    Provided internal training/ capacity building for the direct workforce

    Building capacity among relevant business relationships (e.g., partners, suppliers, clients, etc.)

    Conducting an audit process and/or corrective action plan

    Collective Action with peers or other stakeholders to address the issue

    Collaboration with governmental or regulatory bodies

    Other (Please provide additional information)

    No action within reporting period

    Climate Action

    Water

    Oceans

    Forests / Biodiversity / Land Use

    Air Pollution

    Waste (e.g., chemical spills, solid waste, hazardous, plastic, etc.)

    Energy & Resource Use

    4. How does the company assess progress in preventing/mitigating the risks/impacts associated with the following environmental topics?

    No monitoring of progress

    Review issues on ad-hoc basis

    Set annual targets/ goals, track progress over time (internal programs only)

    Set annual targets/ goals, track progress over time (internal and external programs)

    Other (Please provide additional information)

    Climate Action

    Water

    Oceans

    Forests / Biodiversity / Land Use

    Air Pollution

    Third-party Environmental Compliance Audit is carried out at partner company level and report submitted to the relevant local regulatory agency for review and feedback. Corrective Actions are developed for any identified deviations and corresponding action implemented to address the anomaly

    Waste (e.g., chemical spills, solid waste, hazardous, plastic, etc.)

    Third-party Environmental Compliance Audit is carried out at partner company level and report submitted to the relevant local regulatory agency for review and feedback. Corrective Actions are developed for any identified deviations and corresponding action implemented to address the anomaly. This is in addition to internal monitoring and reviews championed by Verod

    Energy & Resource Use

    Verod tracks performance in energy and resource use across its partner companies. Reviews are carried out quarterly for continual improvement
    Optional comment
    Verod has not yet set annual targets on Climate action, water, waste, resources use but carries out quarterly reviews of performance preparatory to setting of targets in the coming year(s)

    5. In the course of the reporting period, has the company been involved in providing or enabling remedy for any actual impacts associated with the following environmental issue(s)?

    Yes

    No

    Choose to not disclose

    Not applicable (Please provide additional information)

    Climate Action

    There has not been any occasion warranting such action

    Water

    There has not been actual impact warranting actions

    Oceans

    There has not been actual impact warranting actions

    Forests / Biodiversity / Land Use

    There has not been actual impact warranting actions

    Air Pollution

    Waste (e.g., chemical spills, solid waste, hazardous, plastic, etc.)

    Energy & Resource Use

    Climate Action

    6. What were the company’s gross global greenhouse gas emissions for the reporting period?

    Scope 1 Emissions

    Carbon inventory not yet conducted

    Emissions (tCO2e)

    Scope 2 Emissions

    Carbon inventory not yet conducted

    Emissions (tCO2e)

    Scope 3 Emissions

    Carbon inventory not yet conducted

    Emissions (tCO2e)

    7. What percentage of the company's revenue was invested in R&D of low-carbon products/services during this reporting period?

    Percent of revenue (%)

    8. Has the organization acted to support climate change adaptation and resilience?

    Optional comment
    We are supporting our partner companies to understand and identify their operational climate related risk and impact and also develop measures that would address potential material concerns

    Energy / Resource Use

    9. Please report the company's renewable energy consumption as a percentage of total energy consumption in the reporting period.

    % of total energy consumption

    9.6

    Technology

    10. What percent of the company's revenue came from environmentally friendly products / services during this reporting period?

    Percent of total revenue (%)

    Sector-specific Questions

    11. Which sector(s) does the company operate in? If diversified, choose top 3 by revenue.

    Sector-specific: Water

    12. Please provide details regarding the company's water withdrawal and consumption (own operations) during the reporting period.

    Water withdrawal (volume of water in megaliters):

    Mega-liters

    Unknown

    Not applicable (Please provide additional information)

    Total

    Groundwater:

    Surface water:

    Not applicable

    Rainwater:

    Not applicable

    Wastewater:

    Percentage of water withdrawn in regions with high or extremely high water stress (%)

    Not applicable

    Water consumption (volume of water in megaliters):

    Mega-liters

    Unknown

    Not applicable (Please provide additional information)

    Total

    26.215654

    Groundwater:

    26.215654

    Surface water:

    Not applicable

    Rainwater:

    Not applicable

    Wastewater:

    Percentage of water consumed in regions with high or extremely high water stress (%)

    Not applicable

    13. Please provide details about the company’s water intensity of products in regions with high or extremely high water stress.

    Water intensity of products (cubic meter/$):

    Verod do not yet operate within water stress region
    Optional comment
    Verod do not yet operate within water stress region

    Sector-specific: Forest, biodiversity, and land use

    14. Please report the number and area (in hectares) of sites owned, leased, or managed by the company in or adjacent to protected areas and/or key biodiversity areas (KBA).

    Number

    Unknown

    Not applicable (Please provide additional information)

    Sites

    not applicable - Verod companies operates within urban business districts

    Hectares

    not applicable - Verod companies operates within urban business districts

    15. What area (in hectares) of natural ecosystems was converted during the reporting period in areas owned, leased, or managed by the company?

    Conversion of natural resources (hectares)

    not applicable - Verod companies operates within urban business districts

    16. Is the company supporting or implementing project(s) focused on ecosystem restoration and protection?

    No

    No, but we plan to in the next 2 years

    Yes

    Forest ecosystem restoration

    Other ecosystem restoration

    Reforestation

    Natural regeneration

    Agroforestry

    Set-aside land

    Biodiversity offsetting

    Other (please specify in text box)

    Sector-specific: Waste

    18. Please report the company's total weight of waste generated in metric tonnes during the reporting period.

    Waste Generated (t)

    10.8
    Optional comment
    The above number is based on report obtained from our partner companies

    19. Please report the percentage of the company's waste that was hazardous waste (i.e., hazardous waste ratio) during the reporting period.

    Hazardous Waste Ratio (%)

    91
    Optional comment
    The above number is based on report obtained from our partner companies

    20. Please report the company's estimated metric tonnes of single-use plastic consumed wherever material along the value chain during the reporting period.

    Single-use plastics (tonnes)

    Optional comment
    Verod through one of our partner companies undertook launched plastic recovery initiative and at the end of 2021 recovered about 15.7tons of plastics from within our local environment

    Overall Environment

    21. Briefly describe practical actions the company has taken during the reporting period and/or plans to take to implement the environment principles, including any challenges faced and actions taken towards prevention and/or remediation.

    The first action was to ensure pollution prevention principles were integrated into the operational routines of our partner companies. We did this by ensuring our partner companies maintain full compliance to regulatory requirements related to effluent discharges, air pollution and waste management. Verod through its partner companies carry out periodic environmental compliance monitoring and have management programs that address instances of deviations to environmental standards Within the reporting period, Verod collaborated with one of its partner companies to implement plastics recycling initiative that resulted in the removal of about 15tons of plastics from the local environment. This was in addition to routine in-factory recycling activities. Waste recycling (including other streams of waste) was a big priority for Verod across all its partner companies. This resulted in the recycling of more than 50% of the total waste generated across all partner companies. Verod has unwavering commitment towards ensuring its operational wastes are progressively reduced to minimize its contribution to the public landfill.

  • Anti-corruption

    Commitment

    1. Does the company have an anti-corruption compliance programme?

    2022

    2. Does your company have policies and recommendations for employees on how to act in case of doubt and/or in situations that may represent a conflict of interest, e.g. with regard to gifts and hospitality, donations, sponsorship, or interactions with public officials?

    Prevention

    3. Who receives training on anti-corruption and integrity?

    3.1. How often is such training provided?

    One time only

    Every year

    Every two or more years

    We do not collect this data

    All employees

    Select employees

    Contractors

    Direct suppliers of the organization

    Other – such as partners, clients, etc.

    Indirect suppliers of the organization

    4. Does the company monitor its anti-corruption compliance programme?

    Response and Reporting

    5. Please report the company's total number and nature of incidents of corruption during the reporting year.

    Number of incident(s)

    Unknown

    Choose to not disclose

    Confirmed during the current year, but related to previous years

    0
    No incident reported

    Confirmed during the current year, and related to this year

    0
    No incident confirmed

    6. Within the reporting period, what measures has the company taken to address suspected incidents of corruption independently or in response to a dispute or investigation by a government regulator?

    7. Does your company engage in Collective Action against corruption?

    In addressing corruption related issues; Verod follows its documented procedure. Suspected cases of corruption are taken through the framework provided in the procedure and where there is compelling need for the involvement of law enforcement agencies; that protocol would be activated accordingly. The entire process is managed, monitored and tracked in a transparent manner with trails documented for future reference

    8. Briefly describe practical actions the company has taken during the reporting period and/or plans to take to implement the anti-corruption principle, including any challenges faced and actions taken towards prevention and/or remediation.

    Internal and external trainings and evaluation of training effectiveness through mock scenarios