VFS Global Links Leader Performance Reviews to Sustainable Development Goals
- On the way to reducing its carbon emissions
VFS Global, the world’s largest specialist in outsourcing and technology services for governments and diplomatic missions around the world, said senior management performance for 2022 will be tied to the sustainability goals set for that period. This is a key decision as part of the organization’s long-term sustainability strategy, which focuses on the environmental, social and governance (ESG) key performance indicators (KPIs) deployed. in 2021.
According to the strategy, the company has identified five pillars – Contributing to sustainable economic growth, ensuring good governance, nurturing our colleagues, protecting our environment and supporting our communities. Each of these pillars is carefully selected and aligned with the organization’s business strategy, the United Nations (UN) Sustainable Development Goals, as well as national priorities. They also emphasize diversity, equity and inclusion, employee empowerment and GHG emissions reduction, which are part of the management by objective (MBO) for the company’s senior executives. .
- Diversity, Equity and Inclusion – means our commitment to creating a culture of belonging and equal opportunity by embracing diversity in the organization at all levels, recognizing the diversity of talent and encouraging a mindset to embrace this culture. The company, which already enjoys a very healthy female to male ratio of 58:42 among its employee base, will exceed 28% female representation in leadership positions in the next few years.
- Employee contract – The organization believes that strong employee engagement and satisfaction are critical to business success. Striving to achieve an overall employee engagement score of at least 67% – compared to an industry average of 58%* – will be a key driver of its people management strategy.
- Reduction of GHG emissions – Through energy saving measures, purchasing renewable energy and offsetting initiatives, VFS Global takes reasonable steps to reduce its carbon footprint and contribute to global efforts to combat climate change. One of the key indicators identified is to achieve a reduction in CO2 emissions per employee thanks to the transition of 52% of electricity consumption to renewable energies.
“We want to ensure our ESG commitments are backed by measurable actions that are constantly reviewed and improved. By including sustainability goals in executive MBOs, we want our leaders to lead the change in mindset. This aligns with our overarching goal to be a responsible global leader contributing to the creation of sustainable value for all our stakeholders,” said Zubin KarkariaFounder and CEO of VFS Global.
(* Industry average (IT/ITES) of 2019)
About VFS Global
VFS Global is the world’s largest specialist in outsourcing and technology services for governments and diplomatic missions. VFS Global is the trusted partner of 64 client governments, operating a global network with over 3,500 application centers in 141 countries. The company has processed more than 241 million applications since its inception in 2001. The company manages the administrative and non-judgmental tasks related to visa, passport and consular service applications for its client governments, allowing them to focus entirely on the critical appraisal task. VFS Global is headquartered in Zurich/Switzerland and Dubai/UAE.
VFS Global is majority owned by funds managed by Blackstone, the world’s largest alternative asset manager. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies in which they invest and the communities in which they work. Blackstone’s $915 billion in assets under management include investment vehicles focused on private equity, real estate, debt and public equity, infrastructure, life sciences, growth equity, opportunistic and substandard credits, real assets and secondary funds, all on a global basis.
The Kuoni and Hugentobler Foundation, based in Switzerland, and EQT, a global investment organization, headquartered in Stockholm/Sweden, hold minority stakes in VFS Global.