As companies accelerate their digital transformation initiatives, there is a growing emphasis on the sustainability of their IT hardware operations. That’s where companies like Procurri Corporation (SGX:BVQ), a global provider of sustainable IT solutions encompassing enterprise maintenance, hardware, and lifecycle services, stand out among its peers by offering a unique value proposition as an IT service provider.
It aims to help companies increase the sustainability of their IT hardware operations by reducing cost, lengthening uptime, and reducing their environmental footprint. This approach allows its clients to oversee the entire sustainable IT lifecycle, from “cradle to grave”.
Here are 5 things to understand about Procurri Corporation’s commitment to its Environment, Social, and Governance (ESG) efforts.
ESG relates to Environment, Social, and Governance. Which of these three pillars does the Group focus more on and why?
The Procurri Group places a primary focus on the “Environment” pillar within the Environmental, Social, and Governance (ESG) framework. This emphasis on the environment is driven by several factors that align with the group’s core values and business strategy.
First and foremost, Procurri’s core business operations revolve around reclaiming, refurbishing, and reusing IT assets. This inherently sustainable approach aligns with environmental objectives. By extending the lifecycle of IT equipment and reducing electronic waste, the group reduces its ecological footprint and supports the principles of a circular economy. Up to 80% of the Carbon footprint within IT hardware is at point of manufacture, so a portfolio designed to extend the life of IT assets is a good thing when it comes to Carbon reduction.
Furthermore, Procurri recognizes the pressing global need to address environmental challenges, such as climate change, resource depletion, and waste generation. By prioritizing the environmental aspect of ESG, the Group actively contributes to mitigating these challenges.
However, Procurri does not neglect the “Social” and “Governance” aspects of ESG. The Group actively engages in social initiatives and maintains high governance standards to ensure a holistic approach to ESG, reflecting its commitment to all three pillars of sustainability.
What are the Group’s ESG achievements that are different from those of your competitors and which shareholders should understand and care about?
Procurri’s business is about extending IT product lifecycle via a suit of service and hardware solutions. Up to 80% of the carbon footprint of an IT asset is generated at point of manufacture, thus extending the lifecycle of the hardware has to be a good thing. Not only does Procurri work with clients to provide maintenance solutions to enable clients to sweat their hardware estate longer, comfortable in the knowledge that should it malfunction, Procurri’s global team of experts is on hand to fix under agreed SLA (service level agreement), but we also provide end of life solutions for assets that are no longer required, extracting, securely erasing data, thoroughly testing and refurbishing the hardware with a focus on resale rather than recycle, providing a new life for the asset. Providing all the refurbishment and maintenance from our carbon neutral certified facilities – Procurri stands alone from the competition with its comprehensive portfolio of offerings and walking the talk by maintaining its carbon neutral status.
What has been done to retain employees and attract new talent into the Group?
▪ In 2022, Procurri took significant steps to strengthen its workforce and attract new talent. One major initiative was the investment in a third-party field engineering team, adding more than 2,500 skilled engineers to its roster. This strategic move not only enhances operational efficiency but also ensures that Procurri can meet its clients’ diverse and evolving needs with expertise and flexibility.
▪ Procurri is also deeply committed to diversity and inclusion, fostering a workplace where all employees are treated fairly, and opportunities are based on merit alone.
▪ Furthermore, Procurri recognises the importance of employee development and regularly conducts performance reviews and training sessions. It has a robust Training and Development program, which includes on-the-job training and collaborations with accredited institutions.
▪ To maintain its high standards, Procurri conducts annual appraisals and monthly sales meetings, ensuring ongoing employee motivation and engagement. The re-certification of its Europe office as an Investors in People employer in May 2022 highlights the company’s dedication to leadership development and performance evaluation.
What are some key strategies in place to prevent corruption and fraud among its employees?
▪ Procurri is committed to acting lawfully, ethically and with integrity in every aspect of its business. Our Anti-Bribery and Corruption policy was reviewed in 2021 and sets standards of behavior that all employees, including contract and temporary employees, must adhere to in their dealings on behalf of Procurri.
▪ We operate a zero-tolerance policy towards bribery and corruption in any situation or form. This is fundamental to fostering investor and stakeholder confidence and aligns with the principles of sustainability on which we operate.
▪ In addition, Procurri has also established a whistleblowing policy that encourages employees, customers, and other stakeholders to report any concerns or suspected violations of our Code of Conduct or applicable laws and regulations. Our whistleblowing policy is designed to ensure that all reports are handled in a fair, confidential, and timely manner, and that appropriate action is taken to address any wrongdoing.
What are your future plans to further enhance your ESG data and disclosure practices?
▪ Procurri has a clear vision for enhancing ESG data and disclosure practices in the future by improving its transparency and accountability in all three ESG dimensions.
▪ Environmental: Expand our data collection and reporting efforts. This includes tracking and disclosing a broader range of environmental metrics, such as water usage, waste management, and energy efficiency. We will also continue to invest in renewable energy sources and work to reduce our carbon emissions.
▪ Social: Deepen our engagement with various stakeholders, including employees, customers, and the communities in which we operate. This will involve more robust reporting on our social initiatives, such as diversity and inclusion programs, employee well-being, and community engagement efforts.
▪ Governance: Continue our corporate governance practices to transparency and high standards. This includes providing detailed disclosures on governance structure, board composition, and adherence to regulatory requirements as well as periodic assessments to identify and mitigate potential governance risks.
Editor’s Note: Some answers for this article were extracted from the SGX 5 in 5 series published on 7 November 2023 and have been republished with permission. You can read more on Procurri Corporation (SGX:BVQ) on the SGX website.
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