Sustainable private sector development requires responsible business management of environmental and social ("E&S") matters. The objectives of our approach to responsible investments in infrastructure are as follows:
- To minimise adverse impacts and enhance positive effects on the environment, communities and employees as relevant and appropriate, from the businesses in which Ashmore´s capital is invested;
- To encourage the businesses in which Ashmore's capital is invested to make efficient use of natural resources and to protect the environment wherever possible;
- To support the reduction of greenhouse gas emissions which contribute to climate change, within the businesses in which Ashmore's capital is invested;
- To encourage the businesses in which Ashmore's capital is invested to work within a defined timeframe towards full compliance with the International Labour Organization ("ILO") Core Conventions, ILO Basic Terms and Conditions of Work and with the United Nations ("UN") Universal Declaration of Human Rights and IFC Performance Standards; and,
- To operate professionally in a performance-oriented culture, be committed to continuous improvement with respect to management of the environmental, health and safety, and social matters and employ management systems which effectively address E&S risks and realise E&S opportunities as a fundamental part of a business' value.
Ashmore and the businesses in which its capital is invested will:
- Operate in compliance with applicable local and national laws. This includes all applicable statutes, laws, ordinances, rules and regulations, including, but not limited to, any licence, permit or other governmental authorisation imposing liability or setting standards of conduct concerning any E&S risks;
- Identify E&S risks and impact through an adequate evaluation and carry out gap analysis by applying the relevant IFC Performance Standards and IFC EHS Guidelines, design appropriate targets and timetable for improvements:
- for Greenfield operations and major expansions of existing facilities: evaluate these risks and impacts through an adequate E&S Impact Assessment (ESIA);
- for existing operations: evaluate these risks and impacts through an adequate E&S Audit;
- consider the potential for positive impacts and opportunities from business activities; and
- design appropriate E&S Action Plans (ESAP) to mitigate E&S risks and/or to achieve identified potential positive impacts and opportunities.
- As appropriate, work in a defined timeframe towards international E&S best practice standards;
- Treat their employees fairly in terms of recruitment, progression, terms and conditions of work and representation, irrespective of gender, race, color, disability, political opinion, sexual orientation, age, religion, social or ethnic origin, or HIV status;
- Use effective systems of internal control and risk management covering all significant issues, including E&S matters.
Ashmore's Board of Directors has adopted corporate principles found in its Conduct Code and Good Corporate Governance Code. The Company has included policies in the Codes containing:
- Values and explicit guidelines of behaviour;
- Concrete patterns determined for the conflict of interest management, specifically including, among others, those regulating operations with economic attachments, in addition to those legally applicable;
- Mechanisms to avoid the use of privileged or reserved information;
- Bodies or competent offices in order to develop follow-up on the compliance with the code; and,
- Consequences of their violation, taking into account factors such as relapses, losses for the clients or the Company limits violations, among others.