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Not only does EFG Hermes maintain a strict and transparent policy environment, the Firm also prides itself on its agility in accommodating changing market and societal needs. This has been particularly vital given EFG Hermes’ continued expansion into both new jurisdictions and product lines as well as in response to evolving global risks and circumstances. Policies are designed to complement each other, filling i.n gaps or addressing new concerns as needed. For example, in 2019, the existing Statement on Human and Labour Rights was augmented with an additional Statement on Modern Slavery and Human Trafficking to address rising global concerns. Similarly, a Statement on Climate Change was articulated to complement the existing ESG policy. All policies and statements are disclosed on the Firm’s website and incorporated in monitoring and compliance protocols. An orientation package is available to give all trainees and newly hired employees a comprehensive view of all policies and operations.

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The EFG Hermes Policy Environment

General policies

  • Employee Code of Conduct
  • Supplier Code of Conduct
  • Environmental, Social and Governance

Labour policies

  • ‘Know Your Employee’
  • Health and Safety
  • Anti-discrimination

Business policies

  • Staff Dealing
  • Group Compliance
  • Information Disclosure
  • Business Continuity
  • Whistle-blowing
  • Proxy Voting
  • GDPR Policy
  • Anti-fraud and Corruption

Statements

  • Statement on Climate Change
  • Statement on Modern Slavery and Human Trafficking
  • Statement on Human and Labour Rights

Policy Evolution: Responding to Critical Issues

Statement on Climate Change

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EFG Hermes believes it is vital for financial institutions to make a firm commitment to the sustainable development goals and to the support of Climate Change mitigation efforts. Within this context, EFG Hermes has released a Statement on Climate Change and identified key areas of engagement:

Policy – EFG Hermes is committed to expanding its environment, social and governance policy, adopted in 2017, to more specifically address Climate Change considerations.

Investment – EFG Hermes is committed to expanding its responsible investments, particularly in the area of clean and renewable energy. We also aim to help our clients limit their exposure to environmental risk utilizing our exceptional research capabilities and our in-depth knowledge of Frontier Emerging Markets that may be environmentally and socially vulnerable.

Training – EFG Hermes is introducing training modules to help our investment professionals recognize climate risks and identify sustainable opportunities. Operation – EFG Hermes is committed to increasing supply chain efficiency, minimizing the carbon footprint of our premises worldwide and expanding energy conservation efforts and recycling initiatives.

Advocacy – EFG Hermes is committed to promoting the implementation of Climate Change measures within the investment industry by engaging with peers, government agencies and the wider community. On an internal level, EFG Hermes continues to engage with employees to prioritize Climate Change issues.

Citizenship – EFG Hermes Foundation for Social Development is committed to incorporating Climate Change mitigation measures in its integrated development initiatives in rural Egypt and elsewhere.

Statement on Modern Slavery & Human Trafficking

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EFG Hermes recognizes its responsibility to ensure that modern slavery and human trafficking and their associated outcomes, such as the laundering of illicit gains, do not take place within our sphere of influence. In 2019, EFG Hermes has articulated a corporate Statement on Modern Slavery and Human Trafficking and has identified key areas of engagement:

Labour – EFG Hermes believes that protecting the rights of its employees is of vital importance and has articulated two statements to complement its existing policies: A Statement on Human and Labour Rights affirming compliance with the laws and regulations of the countries we operate in and a Statement on Health and Safety which aims to fulfil all corporate and legal health and safety responsibilities. EFG Hermes also ensures all salaries fulfil legal minimum wage requirement in all the countries we operate in.

Compliance and Risk Management – EFG Hermes believes that having sufficient information about our clients is the best way to minimize the Firm’s risk of being used for illicit activities such as the processing of funds gained from human trafficking or modern slavery.

Supply Chain – EFG Hermes’ Supplier Code of Conduct requires its suppliers to uphold all applicable laws and regulations regarding labour and human rights, health and safety, environmental protection, and ethical practices wherever they make products or perform services for EFG Hermes.

EFG Hermes is also committed to mitigating the socio-economic factors that may trigger vulnerability to human trafficking or modern slavery via two lines of attack: its corporate social responsibility activities implemented through the EFG Hermes Foundation for Social Development and financial inclusion initiatives such as its subsidiary Tanmeyah Microenterprise Services, Egypt’s leading private-sector microfinance provider.