Sustainable Development (ESG)
Commitment to Sustainable Development
With what goal do we want to pursue sustainable development and how do we achieve this goal?
At Gilan Research and Technology Fund, sustainable development is one of the fundamental principles that always plays a crucial role in all our activities and decision-making. We believe that sustainable development is not just an advertising slogan, but our existential philosophy. This path is not one that seeks short-term benefits or profiteering; rather, it is a path that seeks human excellence, transparency in performance, and industry leadership.
Environmental Initiatives:
Replacing plastic garbage bags with biodegradable types: This action helps reduce plastic waste production and is an important step in reducing environmental pollution. Avoiding the use of plastic cutlery in food orders: By doing this, the fund contributes to reducing plastic consumption and protecting the environment. Waste management: Employees must follow effective recycling methods and proper waste disposal. Carbon footprint reduction: The organization is pursuing approaches to reduce greenhouse gas emissions.
Social Initiatives:
Improving employee health through physical and mental health monitoring: This program is implemented to enhance overall employee health and prevent diseases. Rewarding employees active in improving their physical and mental health: Encouraging employees to adopt healthier lifestyles through the compensation system. Reforming the compensation system with employee participation: Holding sessions with HR experts to brainstorm about improving working conditions and employee benefits. Improving workplace conditions through workspace renovation: Creating a more comfortable and pleasant environment to increase productivity. Allocating a rest room for employees: Providing a space for employees to rest and recharge during the workday. Celebrating ancient Iranian festivals: Promoting Iranian culture and history through celebrations like Baharband and presenting gifts to employees. Organizing recreational and occasional programs for employees: Including gatherings, pool access, and occasion-specific gifts such as for weddings and childbirth to increase satisfaction and maintain work-life balance. Encouraging employees to enhance their personal brand on social networks like LinkedIn: Increasing employees' professional visibility and strengthening their job-related interactions in the virtual space.
Governance Actions:
Transparency and Accountability: All financial information and reports must be accurately recorded and published transparently. Compliance with Laws and Regulations: Full respect for and adherence to national and international laws and regulations. Prevention of Conflicts of Interest: Establishing control structures to prevent any conflicts of interest within the organization. Commitment to Professional Ethics Code: All employees and managers of Gilan Research and Technology Fund are committed to adhering to this professional ethics code. Violation of any part of this code may result in disciplinary actions.
Theoretical Foundations of ESG
Introduction and Importance of ESG ESG (Environmental, Social, and Governance) has emerged as a set of standards and criteria for the operations of companies and financial institutions. This concept emerged in the 1990s and quickly became one of the fundamental principles in investment decision-making. Environmental criteria include the environmental impacts of a company's activities, including energy consumption, waste management, and reduction of greenhouse gases. Social criteria emphasize companies' social relationships and responsibilities with their stakeholders, including employees, customers, and local communities. Finally, governance criteria include management structures, financial transparency, and adherence to ethical and legal principles. Implementing these criteria leads to risk reduction and improved long-term performance of companies. [Source: MSCI ESG Investing]
Investing based on ESG criteria helps investors improve their decision-making and reduce risks associated with environmental, social, and governance issues. Studies show that companies adherent to ESG criteria perform better financially and are more resilient in facing crises and market changes. Moreover, ESG investments can help attract informed and responsible investors, as these investors tend to invest in companies that pay attention to sustainability and social responsibility. [Source: Sustainability: The Road to ESG Integrity]
Implementation of ESG policies in financial and investment institutions not only helps improve companies' financial performance but also leads to the creation of social and environmental values. Some of the important achievements of these policies include reducing negative environmental impacts, increasing social welfare, improving transparency, and enhancing public trust. Financial institutions, by adhering to ESG principles, can play a leading role in creating positive changes in societies and contribute to achieving sustainable development goals. This approach not only has economic benefits but also helps develop sustainable communities and protect the environment. [Source: CFA Institute: ESG Investing]
Conclusion:
- What is the background of ESG policies in financial and investment institutions worldwide, and what achievements have they had?
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ESG (Environmental, Social, and Governance) policies have been widely introduced in financial and investment institutions worldwide since the 1990s. These policies were developed with the aim of creating greater responsibility in environmental, social, and governance areas. Some of the important achievements of these policies include: Reduction of environmental and social risks: Financial institutions have been able to reduce risks related to the environment and social issues and achieve greater sustainability by adhering to ESG policies. Attracting informed investors: Companies that adhere to ESG principles have been able to attract more aware and responsible investors. Enhancing transparency and trust: Implementation of ESG policies has led to increased transparency and public trust in financial and investment institutions.
- What strategies has the Non-Governmental Research and Technology Fund of Gilan
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Province chosen to implement ESG? The Non-Governmental Research and Technology Fund of Gilan Province, based on the three fundamental pillars of environmental, social, and governance, has chosen the following strategies to implement ESG: Environmental Initiatives: Replacing plastic garbage bags with biodegradable types, avoiding the use of plastic cutlery in food orders, and waste management. Social Initiatives: Improving employee health, rewarding employees active in improving physical and mental health, reforming the compensation system, and organizing recreational and occasional programs for employees. Governance Initiatives: Transparency and accountability in financial information and reports, compliance with national and international laws and regulations, prevention of conflicts of interest, and commitment to adhering to the professional ethics code.
- What achievements does the Gilan Research and Technology Fund expect from implementing ESG in its organization and services?
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The implementation of ESG policies in the Gilan Research and Technology Fund is expected to bring about the following achievements: Improved Financial Performance: By reducing environmental and social risks, the fund's financial performance improves. Increased Investment Attraction: Companies adhering to ESG principles typically attract more investors. Enhanced Reputation and Trust: Implementing ESG leads to an enhancement of the fund's reputation and public trust. Sustainable Development: Achieving sustainable development and creating positive and lasting impacts on society and the environment.
- What value does implementing ESG create for customers of the Gilan Research and Technology Fund?
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Implementing ESG policies creates the following values for customers of the Gilan Research and Technology Fund: Risk Reduction: By adhering to ESG principles, risks associated with investments and financial collaborations are reduced. Increased Transparency and Trust: Customers trust the fund with greater confidence and benefit from transparency in financial and performance reporting. Improved Health and Well-being: The fund's social initiatives contribute to improving the health and well-being of employees and customers.
