Corporate Sustainability
Our commitment to sustainability
We recognise the importance of managing Environmental, Social and Governance (ESG) based risks and opportunities across our business – not just in our investment services, but also through our strategy, governance, and operations.
Each year, we report on our progress with regards to implementation of our sustainability focused initiatives. This provides transparency to our clients, employees and shareholders. We are proud to make available our FY24 Sustainability Overview which details performance against material ESG issues and offers a snapshot of our future ambitions.
FY24 Highlights
40:40:20
diversity targets introduced across senior leadership and female representation
$280 million+
in committed client FUA across our sustainable investment product suite
Carbon neutral
operational (Scope 1 and 2)* GHG emissions, via renewable energy procurement
Innovate RAP
launch of inaugural Innovate Reconciliation Action Plan (RAP)
$340,000+
raised for community organisations through E&P and staff**
Sustainable office design
90% of construction waste recycled and 24% of furniture sourced from Indigenous businesses^ in new fit-out
Past Reports
WGEA Gender Pay Gap Supporting Statement
E&P is committed to fostering a culture that embraces and promotes diversity, inclusion and equity in our workplace. We know that this focus will result in an engaged and productive workforce who feel recognised and respected. Our approach fosters greater innovation, creativity, and diversity of thought, better decision making, better business outcomes and improved organisational performance.
Our goal is to have a workforce that reflects the community in which we work and enable our employees to bring their full selves to work. This commitment is integral to our value of Respect & Inclusion and is demonstrated through harnessing the diverse perspectives of our people.
E&P’s workforce is made up of 35% female employees with too few females in senior leadership roles. This impacts the median gender pay gap of 36% (base pay) as reported to WGEA. We recognise the need to focus on female representation at all levels, including leadership, and are committed to improving representation to reduce the WGEA gap.
WGEA calculates a gender pay gap based on the difference between the arithmetic average of men’s total compensation and the average of women’s total compensation, including superannuation, overtime, bonuses, and other additional payments. The WGEA calculation is undertaken without consideration given to roles that are like for like between genders.
E&P Financial Group does however conduct annual like for like gender pay analysis of fixed reward (excluding performance based bonuses). The analysis is conducted against same or similar roles, by level, to contextualise the data and to ensure men and women doing the same work, at the same level, receive the same base pay inclusive of superannuation. When calculating our like for like gender pay gap in our revenue generating businesses, our gender pay gap is 3.7% in favour of males. This gap is driven by differences in experience and nuanced expertise, even when working in similar roles.
We believe conducting a like for like gender pay analysis ensures that men and women doing the same work receive the same base pay. E&P analysis excludes bonuses, which are performance based, irrespective of gender. We ensure transparency by sharing our like for like analysis with our staff internally.
E&P is committed to gender equality and improving our female representation in our business and across the industry. We have set specific measurable targets that will drive change including representation in our revenue generating businesses, women in leadership, intern and graduate recruitment, and like for like gender pay. These targets are supported by practical initiatives overseen by our Diversity Working Group and owned by our senior leadership team.
Note: All data unaudited, as at 30 June 2024
*Scope 1 and 2 emissions only, using market-based carbon accounting methodology.
**Excludes industry sponsorships.
^Supply Nation registered organisations.