The Corporate Sustainability Review - CSR 2022

Our new logo incorporates interlocking shapes to create an abstract image of the letters C, S, and R – an abbreviation of the registered name Corporate Sustainability Review. The embrace of the two semi-circular elements, capture the harmony of business and civil society working together; and emphasizes the human element which is at the heart of SDG goals held in common. The swirling ‘S’ linking the corporate with community speaks to sustainability being a constant flow of innovation and adaptation.

The Corporate Sustainability Review features the unique social programmes and experiences of companies from a wide range of sectors including Energy, Finance, Manufacturing, Telecommunication Services, Retail and others as they strengthen communities and transform lives across the Caribbean region.

The Corporate Sustainability Review

Stefanie

Miriam

Evie

Donna Ramsammy

Jarrel De Mattas

Pat Ganase

Carol Quash

Lawrence Arjoon

Robert Clarke

Stefanie Gouveia

Wendy Singh

Saarah Khan

Zoe Bernadette

Common Metrics for ESG

In 2020, the World Economic Forum’s International Business Committee published 22 ESG metrics with a vision to standardise corporate reporting under a ‘stakeholder capitalism’ approach. The three ESG pillars provide a common framework for social engagement, and performance metrics by which countries and businesses can measure their impact on society through a more consolidated approach to standards and reporting frameworks.

The Forum has worked with auditing firms which include Deloitte, EY, KPMG and PwC to establish universal metrics and standards of disclosure. Over 150 companies globally have demonstrated support and several others have expressed interest in being part of the change. Since the Sustainable Development Impact Meetings in September 2022, over 130 companies have already included the Stakeholder Capitalism Metrics in their mainstream reporting materials, including annual reports and sustainability reports.

ESG offers a focused framework through which governments, businesses and civil society can collaborate on serious global challenges, with a shared understanding of their moral obligation and interdependence in creating economic growth while protecting and safeguarding people and planet.

ESG can mean different things to different companies. So here are a few broad guidelines we asked our corporate partners to consider as they shaped their stories for this edition.

The Environment Component:

Addresses how the business interacts with the natural environment, the impacts of its operations, and the actions the company takes to mitigate negative effects. This would include impacts, such as greenhouse gas (GHG) emissions, raw material use, land use, water consumption, pollution and waste creation, and the company’s supply chain activities.

The World Environment Fund (WEF) suggests alignment with six of the SDG goals:

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Clean water and sanitation

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Affordable and clean energy

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Responsible resource consumption and

Climate action

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Life on land

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Life below water

The Social Component:

Addresses how business activities affect people — from its own workforce to customers, local communities and those who work in its extended supply chain. This includes people impacts such as fair pay and safe working conditions, workforce health and wellbeing, diversity, equality, and inclusion, safeguarding against child labour and slavery, and anti-corruption measures. It also recognizes a business’s obligation to support society proactively through initiatives such as education programmes and upskilling employees.

These align with five SDG goals.

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Donna Ramsammy Editor-in-Chief

The Governance Component:

Addresses policies, structures, and procedures by which an organisation or country is run. It explores the decision-making process and the distribution of rights and responsibilities between elements of the organisation, including the board and senior executives or, in national terms, the government, parliament and senior ministers. This includes clear organisational purpose and values embedded in the business, monitoring board composition and skills, regulatory compliance, executive compensation, oversight and accountability, risk management, and reporting. These align with three SDG goals:

Responsible resource consumption and production

Peace, justice, and strong institutions

Partnerships to achieve the goals

Establishing common metrics and standards allows for comparative data points and a simpler approach to measuring performance and ESG reporting. According to the WEF, the metrics include non-financial disclosures centred around four pillars: people, planet, prosperity, and principles of governance and include measurements around greenhouse gas emissions, pay equality and board diversity, among others.

Among those companies that have signed on to the Stakeholder Capitalism Metrics in their Reporting Materials and are operating or present in Trinidad & Tobago are: bp, Deloitte, EY, Heineken, Kia, KMPG, McKinsey & Company, Nestlé, PwC, Royal Dutch Shell, Unilever and Yara International. In this issue you will see stories from the Ansa McAL Group, Atlantic LNG, the National Gas Company, Shell T&T Limited and Republic Financial Holdings which is now a signatory to the Principles of Responsible Banking. We have also shared some snapshots on sustainability from Seprod (Musson Group), Methanex, Scotiabank, CIBC FirstCaribbean, Demerara Distillers, Royal Bank of Canada, Demerara Bank and Nestlé.

Building a Sustainable Future

Who Cares Wins. This was the name of a report facilitated by the UN Global Compact in 2004, followed by a conference in 2005 where the term ESG (Environmental, Social, Governance) was first coined. At the time, there was consensus that ESG criteria should be integrated, not separated, within an organization. The conference concluded with moderator Peter Zollinger, now Head of Impact Research at Globalance Bank in Switzerland, telling ESG stakeholders to

Fast forward to 2022 where ANSA McAL Group of Companies maintains a strong commitment to not just ‘doing’ ESG but making it a central pillar of sustainability. Last year, ANSA McAL’s story focused on investing in human capital to ensure a sustainable future. This year, the focus is on maintaining and improving sustainability through a conscientious adherence to ESG criteria.

As the region collectively emerges from the most challenging points of the COVID-19 pandemic, ANSA McAL’s reinvigorated ESG approach will centre the business on principles of Sensitivity to the Natural Environment, Societal Wellbeing and Good Governance. Through ESGpropelled policies and initiatives, the Group weathered the uncertainty brought on by the pandemic with a stable corporate structure. While the term ESG is relatively new, ANSA McAL’s approach to environmental, social, and governance-driven issues has always been consistent across their diverse group of companies. However, as the importance of ESG grows, an explicit integration of ESG strategy becomes increasingly necessary.

Every organization needs an overarching reason to exist. In 2022, ANSA McAL declared its purpose to be “Inspiring Better Choices for a Better World” says Carla FurlongeWalker, Group External Affairs Executive. ANSA McAL’s

purpose of creating and maintaining a sustainable future for the region and by extension the world bears the hallmark of an ESG focus. It is a focus made tangible through the Group’s sustainability framework which aligns its Business Priorities to the United Nations (UN) Sustainable Development Goals (SDGs).

The Group also took the opportunity this year to review its core values to reflect the true spirit of the Group as it moves into the future. Every employee is expected to always uphold each of these refreshed values during their day-today activities. These values are:

“simply go and do it”.

Building a Sustainable Future

On the way to inspiring better choices, the Group has made ESG-guided decisions to ensure a sustainable future. These decisions include a multi-sector approach to preserving the environment, transparent and informative communication throughout the Group of Companies, clearly defined governance structure hinged on ethical practice, diversity, and inclusion, and a strong sense of responsibility for improving the lives of its employees and of vulnerable populations. The tone of the ESG integration is set by the Group’s new Vision:

Environmental Sustainability with a Purpose

In the spirit of inspiring a better world, ANSA McAL envisions a more sustainable business and shared future for stakeholders, business partners, employees, customers, and consumers. The Group therefore places great emphasis on environmental preservation, paying close attention to water preservation, waste reduction, carbon dioxide (CO2) emissions reduction, and renewable energy.

To ensure the purification, conservation, and reuse of water throughout the region, ANSA McAL Chemicals Limited, continues to expand its water treatment business. In 2021, the sole Chloro-Alkalai producer in the Caribbean and a key supplier of liquid chlorine to the Water and Sewage Authority of the Government of Trinidad and Tobago (WASA) celebrated its first full year of operation of the chlorine transfill hub in Jamaica. The chemical water treatment plant promises to offer cost-effective and sustainable solutions to the industrial and commercial sectors.

Where waste reduction is concerned, Carib Glassworks Limited (CGL), the glass manufacturing arm of the newly established ANSA Packaging business of the ANSA McAL Group, firmly places the ‘E’ in ESG by using cullet (broken

glass) in the manufacture of new food safe glass containers. This recycling business model forms the basis of CGL’s operations. By using as much as 50-60% recycled glass during production, CGL not only achieves strong operating efficiencies but also significant environmental benefits, that included less of certain raw materials, such as limestone, soda ash and sand. It also lessens the demand for energy and reduces CO2 emissions. Furnace life is extended because including cullet in the manufacturing mix makes it less corrosive and lowers the melting temperature. Glass recycling is a closed-loop system, creating no additional waste or by-products.

Given how much the mining of sand contributes to the glass making process, CGL has taken steps to reduce the impact on the environment by investing in a quarry rehabilitation project in collaboration with the Environmental Management Authority (EMA) through its Integrating Water, Land and Ecosystems Management (IWEco) Initiative. Between 2020 and 2022, the completed two-hectare rehabilitation project in the northeastern turtle-nesting village of Matura aims to restore natural vegetation, reduce sedimentation and flood risk, and restore the ecological function of exhausted or abandoned quarry pits. The rehabilitation project also provided jobs to residents through IWEco TT’s collaboration with the United Nations Development Programme – Small Grants Programme which trains unemployed persons in theoretical and practical quarry rehabilitation techniques.

With inherent Caribbean creativity and resilience, we unleash a future of infinite and sustainable possibilities for people everywhere.

Reforestation

ANSA Packaging will be working to restore an additional 10-hectares over the next 5 years.

The combined benefits to the business and the environment explain why ANSA Packaging continuously encourages consumers to return their used glass. These efforts will undoubtedly inspire the wider community to have a positive impact on the environment and achieve the collective goal of creating a sustainable future.

ANSA Polymer, the plastic manufacturing arm of ANSA Packaging also ensures an environmentally friendly manufacture of plastic, one of the most persistent pollutants on Earth. Unsuitable crates are ground up at the manufacturing plant to be used as resin to make new crates. ANSA Packaging increased the content of reground material used to manufacture new crates from 30% in 2021 to 60% in 2022.

Another area in which the Group reduces greenhouse gas emissions in its operations is through the recovery of carbon dioxide (CO2) at the Group’s breweries in Trinidad and St. Kitts. At each brewery, CO2 is captured and reused in the brewing process.

ANSA McAL is very committed to playing its part in the transition to clean energy in the region. Some examples of the Group’s efforts in this regard are ANSA Merchant Bank’s Green Financing programme in Barbados which incentivizes the purchase of new and nearly new Hybrid and EVs (electric vehicles) and, Carib Brewery’s transition of over 25% of its distribution fleet to compressed natural gas (CNG). ANSA McAL also followed up their 2018 investment in an operational wind farm in Tilarán in the Guanacaste province, Costa Rica with a 2021 co-investment of the Monte Plata Solar Park in the Dominican Republic.

Most notable in 2022 was the launch of the Caribbean Natural Capital Hub by ANSA Merchant Bank in Trinidad and Tobago and Barbados, and ANSA Bank in Trinidad and Tobago, in partnership with The Cropper Foundation and the Capitals Coalition. This pioneering initiative acts as a catalyst for the business community to come together to transform corporate decision-making to reflect and improve their impact on nature’s assets and to develop sustainable initiatives which will benefit the environment, communities, and economies. Under the Hub there will be several initiatives such as Grant Challenges for SMEs, startups and innovators in Trinidad and Tobago and Barbados, sponsorship of a citizen’s blog, and much more.

Recycled glass production

Launch of the Caribbean Natural Capital Hub

Communication is key

A key tenet of ESG is stakeholder engagement. For ANSA McAL, this begins with a workforce of approximately 6,000 people. Transparent and informative communication is a strategic priority for ANSA McAL to ensure that the Group continues to be an employee-centered organization.

Recently, the Group invested in technology which will empower employees by giving them real time access to their personal data, as well as keeping them abreast of developmental opportunities, career pathing and identifying targeted training as they grow within the organization. The new Human Resource Information System (HRIS) and Payroll System in tandem with an ongoing Competency and Career Pathing Project will assist in strengthening the Group’s succession pipeline thus ensuring business continuity in the long term.

Given its size and scale, ANSA McAL sees it as crucial to ensure that its ESG objectives are communicated in a consistent manner across each of its ten sectors. Getting everyone on board with the Group’s purpose as well as keeping everything above board is managed through key performance indicators set for all employees throughout the organization.

As the Group moves to consolidate its ESG focus, it recognizes that wider stakeholder engagement is increasingly important to communicate all sustainabilityrelated developments. It plans to achieve this through its annual reports, press releases, internal email, and social media posts etc. In 2022 each of the Group’s businesses set ESG targets which are integrated into their business plans. The Group will disclose those targets to the public in 2023 and begin reporting on their progress from 2024.

Sustainable Governance

Through its 140-plus year history, one of the pillars of ANSA McAL’s success has been good corporate governance. This is crucial to building trust between companies and shareholders, its employees, the environment, and communities.

In 2021, the Group received the award for the Best Corporate Governance Conglomerate in the Caribbean from Ethical Boardroom, a London-based magazine. ANSA McAL was then featured in the Spring 2022 issue of the magazine wherein the Group’s corporate governance structure was highlighted. One of the key elements of the Group’s governance structure is an independent board of directors. The Board has set a target of at least 50%

Launch of Purpose, Vision Values

independent directorship. For the period 2019-2021, Independent directorship has increased from 27 percent to 47 percent. Between 2021-2022, four (4) independent directors were elected and appointed to the Board.

ANSA McAL’s acknowledgment of effective independent board leadership as a key component of good corporate governance is evidenced by its Director Independence Policy. This Policy outlines the criteria used to determine the independence of a director. Through an attentiveness to independent directorship, ANSA McAL maintains compliance with global standards in corporate governance as described by the International Corporate Governance Network (ICGN).

The Group’s dedication to effective board governance is sustained through its board evaluation program. Through third-party Board evaluations every three years with annual self-evaluations in the interim, the Group upholds a high level of board performance which is an important factor in growing shareholder value over the long term. Board evaluations typically focus on each Director’s knowledge and skills, the Board’s decision-making processes, how well Directors worked together to achieve the Group’s strategic objectives and how the Board performs in relation to its role and responsibilities outlined in the Board’s Charter. The results of the evaluations are used to guide the development of the Board’s director training agenda as well as action plans geared to close any performance gaps.

To provide the Board with support in performing some of its key functions, the Board has two (2) subcommittees – the Governance, Nominating and Remuneration Committee (GNRC) and the Audit Committee. The Board’s meetings are essential to the governance framework. As a further indication of engagement within the organization, attendance at Board meetings during 2022 was 98% on average.

Building a Sustainable Future

Towards a perfect 10 for diversity, equity and inclusion

It might be considered fortuitous that the 10th year anniversary of the Corporate Sustainability Review shares the same number as the UN’s number 10 SDG goal: Reduce inequality within and among countries. However, there is nothing unexpected about ANSA McAL’s strong sense of social responsibility to its employees as well as the communities it serves.

Through the Employee Assistance Program (EAP) the Group provides counselling and guidance to its employees and their families. Additionally, the ANSA McAL Foundation, established in 1992, donated $1,207,579 TTD in grants last year to charitable causes including schools, children’s homes and community-based organisations. As the region emerges from the COVID-19 pandemic, inequalities that existed prior to the virus have deepened. ANSA McAL’s culture of social responsibility ensures a commitment to improving the lives of vulnerable communities. Organisations that benefited from the Group’s philanthropy last year included St. Dominic’s Children’s home, The Rose Foundation, Adult Literacy Tutors Association (ALTA), Marian House, National Centre for Persons with Disabilities, Kids in Need of Direction (KIND), and the University of Trinidad and Tobago.

ANSA McAL is considered to be one of the Caribbean’s most progressive business institutions promoting diversity across the Group. To ensure the Group’s core values of respect and trust are upheld within the organization, ANSA McAL’s Code of Ethics and Conduct Policy expresses commitment to the principles of equal employment opportunity and inclusion while prohibiting discrimination on the grounds of race, colour, origin, sex, sexual orientation, gender identity, religion, marital status or disability.

Within the governance structure and where gender diversity in key leadership positions is concerned, the Group is truly leading the way by increasing female appointees to the Board, despite no existing quota for women on boards in

Building a Sustainable Future

Trinidad and Tobago. In 2021 two additional female directors were appointed to the Board with a third appointment of another female director in 2022. These appointments have increased the Group’s female membership from eight percent in 2019 to thirty-one percent in 2022.

A history of commitment to ESG

Although the term ESG first featured in the corporate world in 2004, the ANSA McAL Group of Companies through its 140plus year history has always been attentive to environmental sustainability, social responsibility, and effective governance. ESG principles have been woven into the culture of the Group such that it has become a main focus and driver of the Group’s reinvigorated purpose of ‘Inspiring Better Choices for a Better World’.

Through initiatives geared toward preserving the environment, improving lives and livelihoods for employees and their families and vulnerable communities and promoting diverse and ethical corporate governance, ANSA McAL maintains its position as a robust and progressive institution in Trinidad and Tobago and the region. With ESG principles projected to grow in popularity, more will be expected of corporate organizations to go beyond the role of just maximizing profits and toward ensuring a sustainable future.

Through a concerted effort at becoming a sustainable organization, the Group is actively shaping a more sustainable region and world. By charting this course to a Sustainable Future, ANSA McAL hopes to inspire others to do the same. The next generation deserves this.

Leading the Way in Responsible Business

Atlantic's Sustainability Journey

Sustainable investing is a major business driver and a priority for corporate entities. With the relatively recent global drive to accelerate solutions for environmental, social, and governance (ESG) challenges, sustainability is an imperative in how business is done. ESG is measuring the impact of corporate action – particularly as it relates to how companies are delivering on mitigating environmental harm.

The intense focus on corporate accountability is due in large measure to the most pressing issue of this century – climate change – and the associated wide-ranging environmental, social, and economic consequences that arise as a result.

To mitigate the effects of climate change, countries and companies have pledged to do their part to ensure a sustainable future for lives, livelihoods, and the environment. The increased focus on sustainable development coincides with the gaining traction of ESG concerns not limited tobut particularly in - the oil and gas industries. An evolution of the Sustainable Development Goals and the Millennium Development Goals (MDGs), ESG addresses measurable impact in key areas of Co2 emissions, workplace environment and transparent business management. What the SDGs address is wider and more far reaching and include equity and societal wellbeing. The SDGs identify 17 goals as focus areas, and 169 targets for action. Atlantic’s social programmes are aligned to these goals.

Atlantic LNG Company of Trinidad and Tobago is one of the world’s major producers of liquified natural gas and contributes significantly to the continued sustainable development of the people and communities in Trinidad and Tobago, and particularly its home community of Point Fortin. Through initiatives that range from carbon

abatement, skills training and educational programs, agribusiness entrepreneurship, food security, and sea turtle conservation, Atlantic has proven to be much more than a leader in the global energy industry as an LNG producer. The principles that Atlantic has built into each of these initiatives are part of a wider strategy of shared value – i.e., contributing to economic growth through the production of liquified natural gas, and ensuring that its own profitability generates a sustainable future for all citizens. As the world grapples with issues of sustainability however, it is not enough to simply implement ESG principles. It requires collaboration and alignment with societal aspirations for the development of viable and sustainable communities.

Creating a culture of sustainability

Sustainability is integral to the values of Atlantic and is present in every aspect of its operations as the Company recognised from its inception, that societal health is very much linked to its own long-term growth objectives. Consequently, Atlantic has focused its efforts on leading the way and modelling a culture of sustainability in Trinidad and Tobago. Atlantic’s overarching culture of sustainability is the bedrock upon which its ESG priorities are designed and executed.

Carbon abatement for the future

At the core of any responsible ESG approach is a disclosure of business management outcomes. Long before the articulation and adoption of the United Nations 17 Sustainable Development Goals (SDGs) came into force in 2015, Atlantic had already demonstrated its awareness and commitment to creating a sustainable future for T&T. It has been providing information on its environmental performance via corporate social responsibility reports since 2004 and sustainability reports since 2008. Premised on values of transparency and accountability, the approach to sound environmental practice by Atlantic, involves accounting transparency via quarterly reports on its GHG inventory to the Ministerial Committee for the implementation of the National Determined Contribution of Trinidad and Tobago. Additionally, Atlantic voluntarily reports its GHG inventory to the national monitoring and verification system also known as the Knowledge Management System which is managed by the Environmental Management Authority.

Atlantic’s historically proactive approach to managing the environmental impact of its operations, has culminated in a comprehensive Carbon Abatement Plan. At the core of this Plan is an emphasis on sustainability. To support the national agenda of achieving a 15% reduction in overall GHG (Greenhouse Gas) emissions by 2030, Atlantic transparently discloses information on its environmental performance via its sustainability reports. Last year’s 2021 sustainability report reflected Atlantic’s achievement of GHG emissions savings totalling 32,503 tCO2e (tonnes of carbon dioxide), approximately 120% above the target of 27,141

tCO2e

The success of Atlantic’s carbon abatement strategy relies on collaboration. Atlantic’s collaboration with its internal stakeholders and shareholders to assess decarbonization pathways for its facilities has contributed to cumulative savings of just under 150,000 tCO2e since 2017.

Additionally, Atlantic’s ability to measure its environmental and carbon footprint consistently and accurately, is helped by its GHG Calculator. Developed in 2017, the GHG calculator is aligned with international standards of GHG accounting. Notwithstanding the challenge of accurately

measuring environmental-impact success within complex and varied frameworks, Atlantic has focused attention on measuring what can be quantified.

While corporate metrics in its management of environmental impact necessarily occupies a central role in its ESG agenda, the social and corporate governance pillars constitute equally important areas in the company’s strategic focus.

Sustainable education

In addition to Atlantic’s carbon abatement initiatives, the company’s attention to ESG principles has seen them prioritise educational and leadership programmes.

For over two decades Atlantic has been energizing future leaders through its longest-running sustainability initiative, the Point Fortin’s Finest Leadership Development Programme. Established in 2000, this programme has seen 219 students benefit through the award of scholarships to the top 10 students graduating from primary schools in Point Fortin, along with skills training and career-focused development opportunities. The programme’s success emphasizes the benefits of sustainable education models. On average just over seventeen thousand students across Trinidad & Tobago benefit from Atlantic’s sustainability strategy through its community programmes annually.

Atlantic Excel – The 2022 Point Fortin’s Finest Cohort

Atlantic’s continued emphasis on skills training as integral to a sustainable future is apparent in their commitment to producing skilled tradespersons who are globally competitive. Another programme in the company’s sustainable education model is the Atlantic National Energy Skills Centre Skills Training through the NESC Technical Institute. The Skills Training Programme aims to develop highly skilled technical persons while creating opportunities for graduates to access employment or entrepreneurial opportunities. Atlantic subsidizes the total cost of the programme which includes tuition and material fees for all participants. While 1054 persons have been certified with the direct support of Atlantic, the actual number is far higher as Atlantic is also a founding member of the NESC. Its support of the NESC from inception has undoubtedly played a key role in the production of technically skilled persons graduating from the institution since its establishment in 1997.

Sea turtle conservation

Due to rising sea levels associated with climate change, along with coastal development, it is expected that there will be less suitable nesting habitats for sea turtles in the future. The present and impending threats to sea turtle habitats particularly in Trinidad and Tobago have seen Atlantic develop initiatives to protect the endangered sea turtles. The company’s fourteen-year partnership with the Turtle Village Trust, the umbrella body for turtle conservation, has been a successful collaboration that addresses and reverses the impacts of perennial injury and disruption to turtle nesting caused by human behaviour. Through Atlantic’s social partnership, sea turtles are given critical protection at various life stages: nesting, hatching, and migratory patterns by building awareness and educating the public on good practice in caring for turtles.

With Atlantic’s support the Turtle Village Trust, has been able to record over one hundred thousand (105, 919) nesting events, with 11,007 turtles successfully tagged. The geotagging project offered high precision, real-time data on the activity of the tagged turtles. Added to this is ongoing research into the foraging habits of resident green and hawksbill turtles. A Head Start Hatchery Programme also

saw the improvement in survival rates of the hatchlings of the green and hawksbill species of sea turtles by impeding threats to the natural nesting conditions of the turtles. The National Sea Turtle Tagging and Monitoring Programme also supports the training of members of the community in various aspects of this important conservation exercise.

Food security and the future

Within the context of ESG, food security becomes even more urgent because of the environmental and social issues involved. A country’s lack of food security can potentially lead to higher food prices and more severe shortages. Changes in policy, technology, and consumer behaviour are therefore necessary for addressing food security in the longer term. Atlantic’s sustainability strategy addresses this challenge, and it has also undertaken initiatives to sensitise its staff about global food security.

To complement this, Atlantic partnered with the Sustainable Unemployment Reduction Efforts (SURE) Foundation to fund and distribute 330,000 seedlings. The intention of encouraging sustainable food production while easing the economic hardships experienced by families is part of Atlantic’s overall commitment to community development.

As outlined in the 2021 edition of the UN report, The State of Food Security and Nutrition in the World, scaling up climate resilience in food systems is one of the main ways through which countries impacted by food insecurity can improve consistent access to nutritious food systems.

In Trinidad, Atlantic recently piloted a climate resilient food system by developing a form of agriculture using a ‘SolarPonix’ model. As part of Atlantic’s overall Community Environment Programme, the local Solar-Powered Hydroponic system uses technology invented by Ancel Bhagwandeen, a Trinidadian consulting engineer from the MIC Institute of Technology. The innovative design of the ‘SolarPonix’ system incorporates a portable, compact design with the ability to log data and gauge temperature, light levels, electrical conductivity, and pH of the nutrient solution. It is intended that the simple, yet effective technology will enable experimentation to optimize plant

yields. The wide-ranging effects of a solar-powered hydroponic system promises a more efficient and earth-friendly alternative to conventional farming. Atlantic’s support of renewable technologies such as the ‘SolarPonix’ system is consistent with the company’s strategic pivot toward The Global Energy Transition and its desire to build sustainability and enhance food security within its home community of Point Fortin.

Deployment of the ‘SolarPonix’ system of agriculture is targeted towards five participating secondary schools in Atlantic’s home community. The practice of building sustainable practices into educational institutions is a core pillar of Atlantic’s strategic focus on sustainable community-based initiatives and its ethos of creating a better future for the next generation.

Sustainability in agri-business

Any successful ESG approach to sustainable agri-business must put farmers and creating entrepreneurial opportunities at the centre. Atlantic does this through several educational programmes in sustainable agricultural practices and also provides support to entrepreneurial growth in the Southwest peninsula through its micro-financing agency Loan for Enterprise and Network Development (LEND).

Established in 2014, LEND has helped diversify economic activity in Trinidad’s Southwest Peninsula outside of the traditional oil and gas sector, by focusing on agricultural innovation and stimulating entrepreneurial activity in other sectors. In keeping with Atlantic’s responsibility to create sustainable opportunities, the Agency targets microenterprises engaged in retail, manufacturing, fishing, agriculture, and other services. Through the embedding of sustainable practices in agri-entrepreneurship, Atlantic simultaneously provides opportunities for future generations of farmers and healthy, affordable home-grown produce for communities across Trinidad and Tobago. Over the period January - November 2022, eighty loans were distributed at a value of $2.78 million. Since its inception, 806 loans have been distributed at a total value of $28.4 million.

Another key aspect of Atlantic’s commitment to ensuring a sustainable future involves the promotion of “green skills” particularly in agri-business. Atlantic’s Community Environment Programme, in addition to protecting ecosystems, nurtures the next generation of farmers and Agri-entrepreneurs.

Most recently, in 2022, Atlantic partnered with The Caribbean Industrial Research Institute (CARIRI) to provide training for select Secondary schools in the company’s home community of Point Fortin. It is expected that 100 students will benefit from the virtual training which comprises modules in Climate Change and Sustainability, Energy Auditing, GHG/Carbon Footprint, Solar PV Systems, ICT applications in Sustainable Energy, and Entrepreneurship in Sustainable Energy.

Atlantic has also partnered with the University of Trinidad and Tobago (UTT) since 2010 to create the Atlantic/UTT National Agriculture Enterprise Training Programme. The three-month programme allows participants to grow their agricultural enterprises by providing them with essential skills in business and financial management.

Solarponix Harvest Coordinator Monica Lessey, displays bok choi harvested from the SolarPonix System

Atlantic’s Trudy SolomonDoodnath displays red lettuce leaves produced by the SolarPonix System

Modules in the programme include business plan development, computer technology for agricultural businesses, marketing and market planning, and the legal framework for local business. Tuition fees for this programme are undertaken by Atlantic as part of the company’s commitment to contributing to the national push toward food security and economic diversification. Over 205 agri-business beneficiaries are today contributing to the nationwide transition to a green economy. The National Agriculture Enterprising Training Programme goes beyond traditional classroom instruction by offering participants practical exposure to agri-entrepreneurship. For example, the 2018-2019 cohort of the programme toured the Nutrien Model Farm in Point Lisas to learn about best practices in agriculture. The tour exposed participants to technological approaches to agriculture including efficient pest management tools, modern methods for soil testing, and a computerized irrigation system.

The way forward

The move towards creating a sustainable future is a continuous process. Atlantic has long recognised that as the effects of climate change become more pervasive, countries and companies will be required to not just adopt ESG criteria but more importantly innovate their ESG practice to ensure competitiveness and relevance. This is why the company has effectively run its business along tenets of sustainability. These tenets have been integrally woven into the company’s corporate strategy and will play a significant role as it embraces the Global Energy Transition.

With an unquestionable culture of sustainability, its comprehensive carbon abatement policies, and its attention to sustainable agriculture practices, the protection of marine life, education, and transparent reporting, Atlantic has a credible track record and strong footprint in the Sustainable Development Goals and ESG performance. Atlantic has proven to be more than a leader in the production of liquified natural gas. By embedding sustainable practices into its operations, the company is also proving to be a leader in Sustainable Business practices and ESG principles.

Sustainability – A New Corporate Credo for NGC

Corporate sustainability is an approach to doing business that considers people, planet and profits. In essence, it is a future-minded business strategy that allows a company to generate value for itself and its shareholders in a socially responsible way, seeking to improve - or at the very least not jeopardise - the environment and welfare of stakeholders in the course of its activities. In other words, it ensures the compatibility of business with sustainable development.

In its early years, corporate sustainability was a principle espoused by a fraction of the global business community. Today, it is indispensable for success in business, given worldwide acceptance of and subscription to the United Nations Sustainable Development Goals (SDGs).

The National Gas Company of Trinidad and Tobago Limited (NGC) is one organisation that has fully embraced this principle. NGC’s journey to integrate sustainability into its operations has included several firsts for Trinidad and Tobago.

NGC’s sustainability journey The evolution of CSR

Well before the advent of corporate sustainability, NGC had been proactively seeking to support development in Trinidad and Tobago. The Company had been engaging with communities, sponsoring initiatives in sport, arts and culture, education, empowerment and environmental preservation through a diverse corporate social responsibility (CSR) programme. Today, the Company’s approach to CSR has evolved in line with the global focus on sustainability.

While NGC continues to support a variety of organisations, groups and causes across the country under its CSR portfolio, it is now prioritising investments that build capacity or support longer-term environmental and

socioeconomic sustainability. This involves a heavier focus on education, training and skills development and environmental stewardship.

For years, NGC managed its CSR projects through the Corporate Communications Division (CCD). In 2021, as the Company began to assimilate the ethos of sustainability more deeply into its business strategy and corporate philosophy, a decision was taken to rebrand the CCD as the Corporate Sustainability Division (CSD). This change not only reflects the broader organisational pivot, but the attendant evolution of the Division’s focus.

Introduction of sustainability reporting

NGC acknowledges that its traditional CSR portfolio of investments is just one aspect of corporate sustainability. That is, corporate sustainability is not just a function of how much is invested in social causes outside the regular remit of NGC’s business, but how its internal business operations are themselves aligned with the SDGs - how they are contributing to (or impeding) the achievement of those goals.

NGC has begun to reflect and report on its corporate sustainability, and the holistic impact of its business on the SDGs, within the framework of sustainability reporting.

Sustainability –A New Corporate Credo for NGC

Sustainability reporting is a mechanism of account that enables companies to share information on their economic, governance, environmental and social performance in a given year, relative to the SDGs and their associated targets. Pegged to the SDGs, guidelines for such reporting request companies to interrogate and share how their business affects their value chain, the environment and their stakeholders, both positively and negatively. The outcome document, a sustainability report, gives an honest and holistic picture of a company’s impact in its space of operation, and on the global development targets.

the standards and advises on global best practice for sustainability reporting. The GRI network comprises over 500 large and small private and public organisations from more than 70 countries, working to advance sustainability reporting across all regions of the world. NGC became the first company from Trinidad and Tobago to be registered as a member.

Elaboration of a Green Agenda

Among the most important steps taken by NGC on its journey to become a more sustainable company was its elaboration of a Green Agenda. This refers to a collection of initiatives, strategies and investments all aimed at reducing carbon emissions and supporting climate action – one of the most pressing sustainability goals.

NGC’s Green Agenda includes internal initiatives – targeting a reduction in the carbon footprint of the entire NGC Group of Companies – as well as industry-wide and national projects, which seek to make an impact on a wider scale.

Key on NGC’s Green Agenda are the following:

In 2018, NGC became the first state enterprise to produce a sustainability report. The Company has been working since then to expand the ambit of its reporting with each successive publication, to align more closely with international benchmarks for such reports. Across the organisation, sustainability metrics have been introduced as key performance indicators, and business units are paying closer attention to the impact of their work on communities and the environment. NGC also created and filled a new position - Assistant Manager of Sustainability –to help embed sustainability into the Company’s corporate culture and partnerships, spearhead certain Green Agenda initiatives and guide expansion of NGC’s impact reporting, inter alia.

To further strengthen its accountability, NGC joined the Global Reporting Initiative (GRI) in 2021. This entity sets

Sustained focus on building the natural gas industry of Trinidad and Tobago, to support use of natural gas as a bridge fuel in the global energy transition;

A methane monitoring and mitigation programme to identify and address leaks along NGC’s pipeline corridor, using satellite data and infrared visualisation;

Collaborative exploration of opportunities to introduce solar power, green hydrogen and biofuels into the national energy mix, through partnerships with NGC Group subsidiaries and industry stakeholders;

Support of academic research into clean energy through partnerships with local universities;

Proactive work with vendors to strengthen supply chains and help vendors integrate ESG considerations into their own businesses;

Sustainability

Active lobbies across the energy sector to reduce carbon footprint of industries, including a Super ESCO project to help improve energy efficiency among light industrial consumers;

An expansion of the Company’s 315-hectare reforestation programme to include agroforestry and eco-tourism components;

A focus on supporting sustainable agriculture to build food and nutrition security;

Energy education through a free consumer-oriented app Energy SmarTT and a Caribbean clean energy research portal;

Decarbonisation of the transportation sector through CNG and alternative fuels;

Support of sustainable energy business development through a Sustainable Investing Initiative.

NGC Energy SmarTT

Sustainability –

A New Corporate Credo for NGC

NGC and its subsidiaries have also articulated the following targets in support of Trinidad and Tobago’s Paris Agreement commitments:

By 2030, to attain 30% of Trinidad and Tobago’s market share for renewable energy and energy efficiency business

By 2030, to achieve a 75% reduction in venting of methane, and 50% reduction of fugitive methane emissions

By 2030, to achieve 12% of Trinidad and Tobago’s Nationally Determined Contributions (NDCs) target for greenhouse gas (GHG) emissions reduction.

NGC’s Green Agenda is a transformative feature of the Company’s growth strategy, which is shaping the future of the business and the entire energy sector of Trinidad and Tobago.

The road ahead

Sustainability is now a corporate credo at NGC. On the approach to 2030, every business unit within the organisation is framing work done in terms of impact on sustainability and the SDGs. No decision or strategy is executed without thought to potential externalities, and long-term and broadscale impact. Transforming the corporate mentality in this way is ensuring that the Company’s business and growth remain responsible, thoughtful and above all, sustainable for years to come.

By 2040, to achieve 30% of Trinidad and Tobago’s NDCs target for GHG reduction

By 2050, to achieve carbon neutrality across The

NGC Group

NGC Reforestation

The Power to Change the World

“

In just a few decades, sustainable development evolved from a mere concept to what has now become the biggest global influencer, permeating all aspects of Governance, Finance, Business and Society. The financial services sector is not only at the epicenter of the change but is positioned to be the biggest enabler, because for change to occur and be sustained, it must be financed.”

These were the words of Nigel Baptiste, Group President and Chief Executive Officer, Republic Financial Holdings Limited (RFHL) in his opening remarks at the Caribbean ESG and Climate Financing Summit (November 2022.)

Environmental, Social and Governance (ESG) integration and mainstreaming as an overarching global finance strategy has emerged as the most effective tool in business sustainability to date. Through the data-driven and sciencebased foundations of ESG, organizations can optimally achieve key business priorities such as risk management, opportunity maximization, reputational value and the creation of a strong moral compass.

ESG as a value creator is now entrenched in the entire global financial system. The European Union is leading the way in this with the following ESG specific legislation/regulation:

1 2

Climate Benchmarks Regulation (EU 2019/2089 – to enhance the transparency and comparability of benchmark methodologies relating to ESG metrics aimed at providing investors with clarity on the sustainability focused aspects of their investments.

Sustainable Finance Disclosure Regulation (EU 2019/2088) – to reorient capital flows towards sustainable investments by increasing transparency by financial market participants and advisers on sustainability risks, whilst ensuring a more uniform protection of end investors.

The Power to Change the World

Taxonomy Regulation (EU 2020/852) –to establish a harmonized taxonomy to classify financial products as sustainable at EU Level, further promoting investments in sustainable activities while addressing “greenwashing” concerns.

Perhaps the most critical for Caribbean exporters is the EU Carbon Tax, which will be phased over the next four years and will require importers to report emissions embedded in imported goods and those emissions would be taxed by 2026. Additionally, countries around the world are following suit, with the USA and Canada expected to put forward tougher ESG legislation in 2023 and most stock exchanges already asking for varying degrees of ESG disclosure for listed and newly listed companies.

The way human activity is affecting the planet is real. More responsible accounting for resources and impacts is therefore, necessary. The recent devastating flooding in Trinidad and Tobago left many communities isolated with many losses. Tisha Marajh, recently hired Group Sustainability Officer at Republic Bank, said “Trinidad and Tobago saw these losses during an abnormally intense wet season, however, the disasters which follow will be unfortunately common, unless there is access to capital to build climate resilience in the country. Banks have a unique role to play in not only providing capital but also as influencers and lobbyists for change.”

RFHL understands that every company and industry will be impacted and stands to be transformed by ESG and the race to Net Zero. The Group has set its sights on leading in the sustainability space to serve the 14

Others on the way: Corporate Sustainability Reporting Directive (CSRD), EU Green Bonds Regulation (EUGBR), Corporate Sustainability Due Diligence Directive (CSDDD).

unique countries within its sphere of influence. ESG and sustainability are fundamental to financial security for our bank, region, and planet. Although these countries are not significant contributors to greenhouse gas emissions, they are among the most susceptible to climate change, and therefore financing for climate adaptation strategies is of utmost importance.

Principles for Responsible Banking

At the same time, the company is cognizant, flexible and progressive regarding Diversity, Equity and Inclusion among staff and stakeholders and continues to strive to attain the highest standards of governance, accountability and transparency at Board and Executive Levels.

In 2020, RFHL became the region’s first and only (to date) indigenous bank to sign the United Nations Environment Programme Finance Initiative’s Principles for Responsible Banking along with 300 other global banks, comprising more than half of the global banking system. The Principles for Responsible Banking (PRB) are a framework for ensuring that signatory banks' strategy and practice align with the vision society has set out for its future as expressed in the Sustainable Development Goals (SDGs) and the Paris Climate Agreement. To this end, UNEPFI approved RFHL’s first compulsory selfassessment - which can be found on our website.

The Power to Change the World

Defining the PRBs

Only a few months later, another bold step led to RFHL becoming one of the founding signatories to UNEPFI’s NetZero Banking Alliance (NZBA). The NZBA brings together a global group of banks - currently representing about 40% of global banking assets - committed to aligning lending and investment portfolios with netzero emissions by 2050. Combining near-term action with accountability, this ambitious commitment sees signatory banks setting intermediate targets for 2030 or sooner using robust, science-based guidelines.

RFHL has set its very first NZBA science-based target for the Commercial Real Estate Sector. The intention is to work with clients to achieve a reduction of 26.4% of the current estimated emissions by 2030. Targets are being set for other critical sectors.

Sustainable Development Goals

To become and remain world leaders on the sustainability stage, sustainable financing options must be created internally. Ambitious financing targets support and encourage projects aimed at Sustainable Development Goal alignment. RFHL has allocated USD 200 million to the Climate Financing Target focused on SDG 13 – Climate Action. USD 100 million have also been committed towards strengthening the region’s food security and sustainable agriculture prospects. This targets SDG 2 – Zero Hunger.

RFHL recently formalized a unit to focus on capacity building among current and future Small and Medium Enterprises. The Group has set a financing target of TTD $100 million for SMEs in alignment with SDG 9 –

Industry, Innovation and Infrastructure. Operations in the different countries within the Republic Group have selected specific SDGs to prioritize. However, in order to mainstream sustainability, not only within the Group, but as a region, through stakeholder coordination and collaboration, RFHL has adopted SDG 17 – Partnerships for the Goals as the Group’s overarching target.

Each territory within the Group is working on specific contributions. Republic Bank Grenada is seeking Green Climate Fund accreditation. Republic Bank East Caribbean (specifically St. Lucia) is actively forming partnerships with regional and international development organizations. Barbados is actively lending in renewables to meet our Climate Financing Goal and Ghana is working towards integrating national ESG regulations into the Bank’s operations.

On the corporate social responsibility side, the Power to Make a Difference Programme is aligning a significant proportion of social investment initiatives to the Sustainable Development Goals. For example, Republic Bank in Trinidad and Tobago entered a new partnership with Blue Waters Products Limited, Coca-Cola Caribbean Bottlers (Trinidad and Tobago), and Container Recycling Services Limited to increase plastic recycling rates nationally.

Internally, Republic Wealth Management is developing a methodology using International Best Practice for assessment of ESG compliance. A Sustainability Unit tasked with mainstreaming ESG is a strategic imperative working throughout the entire Group to achieve everything mentioned above. The intent is to begin

public ESG disclosures in 2024 in accordance with the International Sustainability Standards Board which was a mandate of COP 26 and further refined at the recently held COP 27.

Going Forward

Next steps should include financing additional projects which focus on Renewables, Energy Efficiency, Water Infrastructure, Food Security, Climate Resiliency, Socioeconomic advancement, Regenerative Businesses and others which speak to the commitment of Responsible Bankers. RFHL intends to work with Sovereign Governments, utility providers, other financial institutions, business sector clients and SMEs to contribute to the financial stability and sustainable development of the Caribbean region. Possibilities in the Blue, Green and Outcome based bond markets will be explored. We expect to be a part of the Green Climate Fund financing; as well as open to opportunities for Blended Financing and in support of Carbon Markets.

It is an exciting time for the world. While there seems to be so much chaos and uncertainty, there is also tremendous opportunity. A Bloomberg analysis shows that ESG assets are on track to reach $53 trillion by 2025. They jumped to $30.6 trillion in 2018 from $22.8 trillion in 2016.

The challenge is creating the enabling environment for the Caribbean region to be part of those opportunities. According to Nigel Baptiste, “The vision I have is for Republic to become a leader, strategist and facilitator in the sustainable journey of our member countries and the region as a whole.”

The Power to Change the World

21 st Century Education

As the global economy continues to transition as a result of foreseen and unforeseen occurrences, Shell Trinidad and Tobago Limited (Shell) is continuing to invest in the education of the nation’s youth in preparation for the changes that are beginning to sweep through the energy sector.

The company has been running its flagship Science Technology Engineering and Mathematics (STEM) programme in collaboration with the Ministry of Education since 2013 – a programme that has added value to the industry by motivating participants to become better critical thinkers and more creative problem solvers. In 2021, the programme transitioned to “STREAM” to incorporate Research and the Arts.

While it has evolved over the years, the programme has maintained the following core components , academic support for secondary and tertiary students; technical industry-focussed training that engages students interested in STEM careers; teacher development that equips teachers with the skills to bring the STEM experience to their classrooms; infrastructural upgrades, that saw lab upgrades and refurbishment of facilities at a number of schools; and public awareness through a variety of exciting STEM events and initiatives such as the Science Bus and sponsorship of Sci-TechKnoFest.

The programme is enhanced through the active involvement of Shell staff members, referred to as Shell STEM ambassadors, who willingly share their time and expertise with students and teachers in a bid to attract students to the many exciting and rewarding career possibilities that exist within the industry.

STKF Couva

Shell’s STREAM Programmes are transforming education delivery and creating opportunities for sustainable work.

21 st Century Education

Reigniting interest in STEM subjects

The company’s prioritisation of STREAM followed an assessment of industry needs, its manpower projections at that time, and published educational data highlighting the declining interest in STEM subjects among local and regional students. According to Shell, the STEM mandate was to address “declining participation in the sciences at the secondary level; underrepresentation in the sciences among secondary school students; and limited exposure to critical thinking, problem solving and innovative skills.”

Goal 4 in the United Nation’s Sustainable Development Goals (SDG) programme is “to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all,” and Target 4.4 aims “to substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship.” Shell has deliberately aligned its STREAM programme to these SDG goals as well as with Goal 7 of the government’s National Development Strategy of Trinidad and Tobago 2016-2030 (Vision 2030):

monitoring and an independent evaluation conducted by the University of West Indies (2021). Altogether, the results confirm the positive effect and lasting benefits the programme has had on individuals and the school system.”

An ecosystem of learning

The evaluation confirmed that “through academic support, technical training, large scale events, teacher training and the deployment of a science bus which visits schools across the country, there have been several direct and indirect beneficiaries of this programme.” Listed among the benefits are informal lessons for students on the Trinidad and Tobago ecosystem; hands-on learning experiences that led to high emotional engagement; a positive brand image to Shells’ partners; and the fostering of strong relationships among stakeholders. Additionally, preliminary assessments suggest a noted increase in the interest in STEM subjects and careers by the participants, and that STEM participants showed a higher aptitude for problem solving than their non-STEM counterparts.

Several students have expressed their satisfaction with the programme with one student describing it as an inspiration.

Shell has been continuously evaluating the programme and believes it has seen great returns on its investment.

Candice Clarke-Salloum, Corporate Relations Manager at Shell, shared the process with the Review. “Shell has measured the short to long term impact of this programme in multiple ways including through ongoing performance

“I think the programme itself helped me to understand that I did not really know (much) about mechanical engineering. It was the experience from the instructors, hearing what they do, learning about their lives - that was also a push for me; and I wanted to be just like them, or I wanted to be better than them because some of them are engineers…”

Shell has also introduced its global STEM programmeNXPlorers to Trinidad and Tobago. NXplorers is a global STEM educational programme that focuses on teenagers

“Trinidad and Tobago will have a modern, relevant education and training system… Revise the school curriculum to emphasize core values, nationalism and workforce readiness skills.”

14-19, equipping them with the necessary tools, skills and know-how to take on real world problems. Students from 74 secondary schools and 15 tertiary education institutions have used the programme to bring STEM education to life.

Tasked to focus on the Food-Water-Energy nexus, as the basis for critical thinking, the students solve community and national problems by applying systems thinking, scenario planning and theory of change.

90K in Innovative Technology

This year, Shell also partnered with the National Institute of Higher Education, Research, Science and Technology (NIHERST) to launch its Bird Strike Challenge, which was open to graduates of the Shell NXPlorers programme. The challenge focused on a pervasive problem in the global aviation industry – Bird Strike.

According to the International Civil Aviation Organisation (ICAO) a Bird Strike is “a collision between a bird and an aircraft which is in flight or on a take-off or landing roll. The term is often expanded to cover other wildlife strikes – with bats or ground animals.” Bird Strikes pose significant threats to aircraft safety and have resulted in a number of fatal accidents.

Shell awarded over TT$100,000 to students for creating solutions to this problem. Forty-five university students took up the challenge. Placed into nine groups, the students underwent several weeks of training using Shell proprietary NXthinking tools with the support of industry experts. The sessions were jointly facilitated by NIHERST and Shell’s subject matter experts.

One of the participants, Manda Baboolal said: “I think it’s a very great initiative because it allows students to be able to be exposed to real-life situations and problems in the world of work and the issues that happen. It also gives them time to develop their critical thinking and problem-solving skills.”

Shell Tertiary NXplorers 2022

21 st Century Education

Collaboration and Recognition

In order to better develop innovation in STREAM education, Shell understands that placing a strong emphasis on collaboration would help to boost the efficacy of the programme. The Ministry of Education has been one of its partners from inception in the implementation of this programme since the programme aims to advance Goal 3 of the Ministry’s Education Policy Paper (2017-2022), which seeks to continue implementation of Science, Technology, Reading, Engineering, Arts and Mathematics (STREAM) Education.

In fact, the Ministry of Education has, on several occasions, publicly cited the Shell-funded National STEM consultation report as one of the driving forces behind the development of the new STREAM Strategic Plan. As a result, the Ministry has, many times, thrown its logistical support behind the STREAM programme. Last year the Energy Chamber presented Shell with an award for Best Social Investment Project for its work on STREAM.

Renewable Energy Efficiency

On November 23, 2022, Senior Vice President and Country Chairman of Shell T&T Eugene Okpere, launched yet another innovative Shell-sponsored programme. The Re-Energize TnT programme was introduced at the Hyatt Regency, Port of Spain. The programme is a renewable energy efficiency project that was developed by the NGO, Renew TT. Its intent is to educate the young people of the Caribbean with knowledge of renewable energy and equip them with the skills to implement that knowledge to benefit the region.

As the energy giant continues to roll out projects aimed at keeping the young people of TT ahead of the game in a changing world, it anticipates that continued dialogue with stakeholders will see a transformation of the education system that will prepare students to effectively deal with whatever the world of work throws at them in the short and long term – an investment that will benefit the country economically and socially in the 21st Century and beyond.

Bird Strike Roundtable

Bird Strike Awards

On Location at the Digitalization Academy

Launch of the Digitalization Academy

Re-Energize TT

Bringing Humanitarian Relief to Guyana’s Rural Communities

The United States is the largest single provider of humanitarian assistance worldwide. Total U.S. humanitarian assistance worldwide was more than US$10.5 billion in fiscal year 2020. The primary goal of U.S. humanitarian assistance is to save lives and alleviate suffering by ensuring that vulnerable and crisisaffected individuals receive assistance and protection. U.S. funding provides urgent, life-saving support, including food, shelter, safe drinking water, improved sanitation and hygiene, emergency healthcare services, child protection programs, and education, among other activities to tens of millions of displaced and crisisaffected people, including refugees, worldwide.

In Guyana, the U.S. Embassy Civil Affairs Team provides assistance to Guyanese communities, particularly in underserved regions in the areas of social, economic, and medical development. The Civil Affairs Team works with multiple local and international civic and governmental organizations to provide humanitarian assistance. Guyana has benefitted from approximately US$7.1M in humanitarian aid through the U.S. Defense Security Cooperation Agency Overseas Humanitarian Assistance since 2004.

The Civil Affairs Team works throughout Guyana to address a variety of humanitarian needs through shortterm, medium-term, and long-term projects. Short-term projects attempt to alleviate immediate concerns such as the recent flooding across the country. Medium-

term projects ease temporary burdens like supporting the Guyana medical system through medical outreach. Long-term projects address enduring needs that have a lasting impact on a community such as providing a clean water source to communities that lack this basic need.

Through the generosity of the American people and the leadership of the U.S. government, the United States continues to provide public health and humanitarian assistance to address the impacts of the COVID-19 pandemic. The Civil Affairs Team has supported the Embassy’s efforts to get essential medical supplies to hospitals and residents in remote areas across the country. In an effort to augment the capacity of the medical institutions in these areas, the Civil Affairs Team has provided valuable medical training in first aid, basic trauma care, preventative medicine, women’s health, and sex education. The team has joined with medical professionals from the United States and locally to conduct medical outreach programs across the country with residents benefitting from a variety of medical services including general medicine, dental, pediatrics, optometry, physical therapy, women’s health, dermatology, veterinary, and pharmacy.

In collaboration with the Ministry of Health, Guyana Medical Relief, Central Islamic Organization of Guyana, International Organization for Migration (IOM), United Nations Refugee Agency (UNHCR) and the Office of the

The US Civil Affairs Team Partners with NGO’s and the Protective Services

Bringing Humanitarian Relief to Guyana’s Rural Communities

First Lady, the U.S. Embassy hosted a medical outreach in Port Kaituma and Mabaruma, Region 1 from August 2-6, 2021. This outreach provided medical services and training in several areas of concern including women’s health, basic trauma care, preventative medicine, sex education, suicide prevention, and veterinary assessments.

The effects of recent flooding across various regions of Guyana were widespread and devastating. U.S. Ambassador Sarah-Ann Lynch joined the Civil Affairs Team in partnership with NGO’s Central Islamic Organization of Guyana, Guyana Medical Relief and Food for the Poor, to provide disaster relief to the town of Kwakwani, Region 10 in wake of the recent flooding. Ambassador Lynch lauded the commitment of Guyanese organizations to help their fellow citizens in time of need, as well as the U.S. resolve to provide assistance to Guyana, particularly in this unprecedented time.

For our common goal of a secure and prosperous Guyana, the U.S. Embassy Civil Affairs Team extends training in casualty care and first aid by Subject Matter Experts to members of the Guyana Defence Force (GDF) and Guyana Coast Guard to enhance the GDF and Coast Guard’s ability to save lives during the course of their jobs and daily lives.

Supporting Guyana’s vulnerable youth is also a key element of the Embassy’s humanitarian efforts. Through partnerships with the Guyana Police Force, U.S. and local NGOs, youth from across the country have benefitted from school kits and sporting items to help them develop academically and athletically.

The U.S. Embassy looks forward to continuing to grow our partnership and friendship, building on the fifty-five years of bilateral relations we share with Guyana and her people and remains committed to prosperity for all Guyanese.

US Ambassador Lynch hands over Oxygen Generators to Minister of Health, Dr Frank Anthony

HAP conducts medical training in NA

HAP distributes food supplies

Ambassador Lynch distributes relief supplies at Kwakwani

HAP Donation to Joshua House

Authentic Leadership

Joannah Nelson

Inspiring Innovation and Continuous Improvements

"Authenticity in leadership is important. Authenticity is needed to responsibly lead high-performing businesses. DeNovo has challenged me to go beyond what I thought possible, to perform in all areas of the business, and to be a better leader. For us, “We make a difference” is a motto we take very seriously, and that helps us inspire innovation and continuous performance.

Joannah

Business Services Manager.

Nelson,

Even as the smallest player in Trinidad and Tobago’s offshore Upstream Sector, DeNovo continues to lead on innovative approaches to stranded natural gas field developments in a mature hydrocarbon basin. For Joannah Nelson, this is rooted in the organisation’s purpose - to make a difference that benefits the people of Trinidad and Tobago – and that starts with people.

“ For any employee to add value to a business, they must care about the work being done and understand how their job, roles and responsibilities, and decisions make a difference to business outcomes. For me, it’s about making a difference in my life, the lives of the people in our team, and in our country by challenging myself and others to grow. It’s important to identify gaps and areas for improvement and strive for something more as individuals, leaders, and organisations because that’s the only way we get better. That’s how we make a difference.”

DeNovo is Trinidad and Tobago’s first and only local upstream natural gas producer. The company owns and operates the Iguana and Zandolie natural gas fields, connected pipelines, and an onshore Gas Processing Unit (GPU) on the Point Lisas Industrial Estate.

As DeNovo’s Business Services Manager, Joannah is responsible for integrating business operations and systems and increasing efficiency across the organisation. Her journey with the organisation started as a consultant to develop the Contracts and Procurement Department when DeNovo was established in 2016. She then transitioned into the role of Procurement and Supply Chain Manager to support the Iguana field

development and new upstream operations. In 2019, she became the Project Services Manager, supporting the Project Manager for the Zandolie Field Development and was responsible for contracts and procurement, logistics, materials, risk, and project controls for the award-winning project.

Consecutive “FIRSTS”

In July 2022, DeNovo announced first gas from its Zandolie field through the region’s first offshore platform powered entirely by renewable energy. The Zandolie platform uses a combination of wind and solar power generation with a 72-hour battery backup. Since first gas, the Zandolie platform has achieved 100% uptime, and there have been no unplanned outages.

DeNovo’s green power generation philosophy is a testament to the organisation’s commitment to “maximising the use of local content and innovative technology to unlock opportunities and to find new and better ways to contribute to the sustainable development of hydrocarbon resources for the benefit of Trinidad and Tobago.”

This approach resulted in DeNovo being awarded the “Best Decarbonisation Project 2022” by the Energy Chamber of Trinidad and Tobago and receiving the “Green Agenda Award 2022” from the Trinidad and Tobago Chamber of Industry and Commerce at the 2022 Champions of Business Awards.

In 2018, DeNovo announced first gas from the Iguana field, Trinidad and Tobago’s first offshore west coast natural gas field development that also used the first conductor supported platform to be installed in the region. The Iguana field development leveraged local leadership with global collaboration to deliver an unmanned minimum facilities platform, three (3) production wells with a

combined production of 80 MMSCFD, a 45 km offshore and onshore 14-inch pipeline, and a Gas Processing Unit (GPU) on the Point Lisas Industrial Estate. The Iguana platform uses solar panels and natural gas from the wells to power the thermoelectric generation system rather than the traditional diesel power generation system, reducing greenhouse gas emissions for a smaller carbon footprint.

For Zandolie, the COVID-19 pandemic challenged DeNovo to improve its ability to collaborate globally, virtually coordinating, managing, and delivering the design, engineering, construction, and installation of the single well, conductor-supported platform and 17” offshore pipeline. The project commenced in January 2020 and spanned 31 months employing approximately 371 people at the peak of construction with Zero (0) Loss Time Incidents (LTIs) from 476,613 manhours. In

addition to the Zandolie Platform being entirely powered by wind and solar energy, there is also no methane slip in the transportation of the gas during extraction or transportation to the gas processing facility. Without the need for fuel storage and power generation, less steel was required on the platform, resulting in a more compact design with a small environmental footprint.

“ We believe in our people. We believe in the capabilities of our people, and our people have proven that they can do the impossible to world-class standards. We were able to execute even through the pandemic. People are willing to challenge themselves and get excited when there is a project. A drilling programme is very exciting but is also the riskiest aspect of an offshore development project. As an upstream

Joannah Nelson while speaking on a panel discussing the role of Natural Gas in the Energy Transition at the T&T Energy Conference in June 2022

operator and as Trinbagonians, it’s thrilling to see a local rig safely drilling wells.

We delivered Iguana while simultaneously setting up for operations. Our model is not to build these assets in new, innovative ways and then hand them over to someone else to operate. As we are the operator, it was important for us to ensure we design and build the assets and set up operating systems that could support and maintain our vision. We also heavily leveraged technology from the beginning, adjusting, and enhancing as we started operating. From our start-up of Iguana in 2018 to date, we’ve had pretty seamless operations with an average uptime of 99.7%.

For Zandolie, we challenged ourselves to do better, leveraging our learnings from Iguana and the competencies of our team. We are excited by the energy transition, and as an aggressively learning organisation we get to prove that renewables can be incorporated into designs and operations towards net zero. It’s

responsible leadership and business when we look at innovative ways to continue operations safely, keep production up, and do what’s best for the environment as much as possible. We have done our lessons learnt from Zandolie and we are ready to incorporate these learnings into future projects to keep improving.

Our success also comes back to our vision and purpose. It comes back to how we designed the assets and the business to enable remote work and collaboration. Our vision from the beginning was a business that balances delivery with a safe, flexible, and healthy working environment that allows people to perform and grow despite challenges. Ensuring everyone had mobile devices for work was fundamental when we started in 2016, and that decision continues to yield results and benefits today. It allows us to continue making a difference.”

We make a difference in our values and how we care about people. We try to ensure that our people have the resources they need to do

their job well, despite changing environmental circumstances. We value their safety and competencies, and it’s important as leaders to nurture that. That’s how we make a difference.

DeNovo’s innovative approach towards a greener Zandolie development amidst a global pandemic demonstrates its ability to lead local development with a low carbon footprint, aligned to the national development agenda of Trinidad and Tobago and the United Nations’ Sustainable Development Goals, to which Trinidad and Tobago is a signatory. For Joannah, DeNovo has proven its ability to deliver the impossible and that success is directly linked to inspiring people to dream big and to believe in themselves.

Inspiring People to Achieve the Impossible

DeNovo’s continued performance is also supported by employee engagement and ownership of the organisation’s vision and goals at all levels. According to Joannah, choosing the right people is essential, but so too is supporting them to understand how they contribute to the success of the business and empowering them all as leaders themselves.

“ I came into a company with a vision set by the leadership of accomplishing the impossible. Then we were able to execute the impossible, despite the many voices that did not believe in us. We believe in our people, and listen to their ideas and challenges, and that culture inspires us to push ourselves beyond what we previously thought possible for ourselves.

The beauty of supply chain management and procurement is that you need to understand all aspects of the business to do your job well. DeNovo has allowed me to really move around and learn about the business and challenge myself to be better along the way. I have also been able to support and challenge the people I work with to grow and be better as well.

Our “We make a Difference” tagline personally means a lot to everyone. For me, it means that as much as possible in everything I do, every decision I make, every action I take, and every conversation I have is centred around how we can make a difference and do things better. As a founding member of the non-profit NourishTT, I have been able to find another way to make a difference. NourishTT’s main objective is to end hunger and reduce food waste in Trinidad and Tobago and with the financial support of DeNovo, both NourishTT and DeNovo have been able to make a difference in the lives of many families throughout the country by ensuring they have food, medical support and even school supplies.”

Towards Net Zero

As DeNovo looks to expand operations and increase natural gas production, they continue to actively pursue renewable and sustainable energy projects. The team also often shares their learnings to support other organisations in increasing renewable integration across the country.

As part of the Proman Group, DeNovo’s upstream innovations also impact the efforts to reduce carbon emissions along the petrochemical value chain. Proman is leading global efforts to utilise methanol as a marine fuel, with significantly lower carbon emissions than traditional diesel fuel and LNG. Proman’s facilities in Trinidad and Tobago also include the world-scale M5000 methanol plant, which produces industry-leading lowcarbon methanol by recycling CO2 produced from nearby ammonia plants.

“Our contribution doesn’t end with DeNovo, and it makes a difference across the value chain. Proman now gets natural gas for methanol production from a platform powered by renewable energy. We are getting it cleaner, and they are getting it cleaner through their efforts. Our goal is to continue making a difference in Trinidad and Tobago with our operations, people, and partners. We are making a difference.”

10 Years of the

Corporate Sustainability Review

Pat Ganase interviews Donna Ramsammy Producer and Editor-in-Chief of the Corporate Sustainability Review

Donna Ramsammy is dedicated to demonstrating how business and communities should co-create better societies. Growing up in Guyana, her spiritual and faithbased grounding, crowned by a long and distinguished career in corporate communications, in the Caribbean and internationally, have distilled a practice that allows her to create, describe and share a philosophy of mutuality for companies and individuals in business. She articulates this as an ingrained conviction that human purpose must be to the highest benefit of the social order, in communities, nations and the planet.

A company is like an individual, the result of all its life experiences, the character built through adversity, the success earned from perseverance. This is the story of the Corporate Sustainability Review (CSR), the signature publication of Virtual Business Services, and the entity being built by Donna over the last ten years - an ongoing seminar in the progress of conscious business –and still growing to reflect the best business practices for the times.

A Caribbean Foundation

I was born and grew up in Guyana in the sixties, at a time of heightened race tensions. Then President, Linden Forbes Sampson Burnham (LFS) came into conflict with the media, often interpreting the freedom of expression as an open challenge to his regime. My father Rickey

Singh was a rather outspoken political journalist whose writings were perceived as anti-government with grave implications for the Guyana Graphic, then owned by the Lord Thompson Fleet of London. Although there was an odd and somewhat irrational respect between my father and LFS, my father would not be silenced and LFS would not be daunted. But there were more complex social and political issues at play which presented a persistent security risk to the family. So much so, that my mixed-race family – Hindu-raised father and Afrocreole Anglican mother – fled Guyana in 1974 and came to Trinidad under the auspices of the Caribbean Council of Churches. Lord Thompson tried to post him to London as a protective measure, but Rickey refused to raise his children outside of the Caribbean. I was enrolled in secondary school at Holy Name Convent and came under the care of two stalwarts of education, Mother Bernadette DeLabastide and Sr. Helen Gomes.

My father’s parents died when he was still a child. In his brother’s charge, it was a hard life, walking three miles to and from school – without shoes and often with little to eat. But he was hungry for knowledge and determined to be educated. He read the Encyclopaedia Britannica collection from one end to the other in an unquenchable curiosity. In our life in Guyana, he normalized that thirst for education, and for giving and sharing, passing on traditions from an East Indian family as well as from the

core concepts of Christianity; he was very close to the Jesuits with whom he had long and passionate debates about religion, social justice and God over many a meal. It's a tradition my husband and I continue to replicate at our own family table, bringing external perspectives to our own ruminations.

It was always normal to us – especially Wendy and me as the older of six children – that people were always in our house, student activists from Grenada, Walter Rodney, Angela Davis, Martin Carter, George Lamming among others. In my parents’ small simple home, we met people from top to bottom exchanging big ideas. We were allowed to sit and listen. Later, Wendy pursued a career in human rights and human development. My field was my father’s – communications.

Contributions at the highest level

At the height of my career as Head of Group Communications (E&P) in London, under the leadership of Lord Browne, bp became a truly global entity championing diversity and working towards achieving the UN Sustainable Development Goals (SDGs) wherever we operated. The idea of CSR – Corporate Social Responsibility – was enlarged; not to deliver bigger handouts, but to be transformative of communities and also the company.

Today, this idea of a company’s responsibility to society has expanded to ESG – Environmental, Social and Governance – in alignment with the UN proposed principles of responsible business which are intended to support and encourage measurable delivery under the UN SDGs. Importantly, it is a set of standards by which conscious investors are screening companies.

Environment is currently focused on the • reduction of carbon emissions in the race to mitigate climate impact.

Social relates to equity, wellbeing, • and diversity within the workforce as representative of the community, as well as its policies and relationship with employees, suppliers, customers and communities.

Governance defines not simply disclosure and • transparency, but an obligation to show and share continuous improvements in auditing and reporting, executive pay, leadership and shareholder rights.

Performance on ESG aspirations is increasingly being defined and monitored by various professional bodies, and an indicator of measurable progress towards sustainability goals.

There are companies in Trinidad and Tobago today that have fully embraced ESG. They understand that it’s a work in progress. They understand that new and visionary ideas must be led from the top, the CEO, the Board, and point persons who will help to change behaviours and embed enlightened philosophy and corporate policy.

What it is not is public relations, which has extended into social media with exciting technology and reach. PR has a place, but it is not a driver; it ought not to lead.

It is not reputation management. Companies that get ESG right will find that their self-image and reputations are enhanced as a by-product. CSR is an indicator, a step in the right direction, taking business for profit towards fulfilling its obligation to benefit the society as its true and visionary goal.

It is also true that if the society is not healthy, it is hard for business to thrive. But business can be an influencer and can support the growth towards a healthy society.

The Review

I was encouraged to do the magazine by journalist and fellow PR practitioner, Linda Hutchinson-Jafar. Her rationale was that the stories of companies progress were not being told. What’s the point of being a progressive corporate citizen if no one knows. The examples of companies pursuing the highest altruistic goals must provide lessons for all. This is one of the principles of mutuality: to influence positively.

It was the starting point, to become and to identify influencers. We started tentatively; I was not sure how we would sell it. Especially when some of the bigger firms were clearly committed to commercial success above all else: what’s in this for us, they asked. Will it increase profits?

The Review is both the example and the showcase for exercises in mutuality.

In our featured Sustainability Snapshots of companies that “get it”, indicate that they have understood their value to society; they commit to a shared accountability, and participate in collaboration, and in fair and transparent reporting.

CSR, ESG, mutuality are not “nice to do,” or something to be seen on social media; nor is it transactional. It is about relevance to the greater good; about cocreating a society that is sustainable. It acknowledges the journey, that time is needed to build, to progress. It acknowledges diversity, different abilities, traditions and perspective. It is inclusive and generous; and ensures profit as the by-product.

We are pleased to mark the ten years of the Review and acknowledge the companies making the effort and doing the work on the path to planetary sustainability.

10 Years of the

Corporate Sustainability Review

The CSR Honour Roll of Companies

Adam's Bagelry

Angostura Limited

Ansa McAL Group

Atlantic Trinidad & Tobago Limited

BGTT

Bp Trinidad & Tobago

Columbus Communications

DeNovo Energy

Ege Haina Puerto Rico

Emtec Guyana

Energy Chamber of T&T

ExxonMobil Guyana

First Citizens Group

Flow

Grace Kennedy Jamaica

Guyana Distillers Limited

Guyana Pharmaceutical Company

Hyatt Regency TT

Kansmacker Recycling

Massy Group

FEATURES

These companies have either participated or journeyed with us over the last 10 years.

Methanex Trinidad

Metro Guyana

Nestle Trinidad

Nexus Hub Inc

Petrotrin

Phoenix Park Gas Processors Ltd

Power Generation Company of T&T

RBC Financial

Republic Bank Financial Holdings

Sagicor Group

Sandals Resorts

SCG Caribbean

Scotiabank Trinidad

Shell T&T Ltd

Technip FMC

The National Gas Company of Trinidad & Tobago

The T&T Chamber of Industry & Commerce

The Women’s Chamber of Commerce & Industry (Guyana)

Tommy's Brewery

TSTT/B-Mobile Foundation

We are particularly grateful for the persistent partnership of Atlantic, bpTT, the NGC and Nestle who have been with us for most if not all of 10 years. These companies have been committed to delivering social programmes that are consistent with the principles and objectives of the Sustainable Development Goals.

Atlantic

In our very first edition in 2012, Atlantic stated its sustainability strategy as the bedrock of its operations and a cornerstone of its governance structure:

“Sustainability refers to our intention to create long-term value for our company and shareholders, employees, communities, and the wider nation. Our sustainability commitment is to lead sustainability in our communities and our country by: responsible environmental stewardship; building capacity through education; enabling our employees to be agents of change through volunteerism; developing the local supply chain; and building strong partnerships. Key focus areas for the company have been sport, education, local economic development and the environment.”

Point Fortin as host community has been central to the company’s CSR programme.

In 2014 Atlantic introduced the Loan for Enterprise and Network Development (LEND) Agency. The Agency’s primary objective was “to promote economic welfare in the communities of Trinidad’s southwestern peninsula, by facilitating new or expanded business activity in key non-energy sectors. The Agency offers financing to MSMEs, sole traders and new entrepreneurs who might be ineligible for mainstream bank loans. Atlantic saw this as a way to grow the MSME sector which is estimated to constitute the majority of private enterprise in the Caribbean and contributes more than 50% of GDP. With sustainability at the core of its business, the company sets itself targets and regularly assesses and reports on its performance. For the last 18 years, the Company has published annual sustainability reports. This practice of full disclosure on social investments is unmatched within the industry.

Donna Ramsammy, Producer and Editor-in-Chief of the Corporate Sustainability Review.

bpTT

bpTT has published details of its social investments in every edition of the Review since 2012. The social strategy has been about building national capacity for the sector and its future; and playing an active role in national development. Key areas for social spend have been in Arts & Culture, Education, Environment and Enterprise & Manpower Development.

Specific to ESG goals, bpTT is on track. At the Group and national levels, the Company’s Net-Zero ambition is at the heart of its Environmental strategy.

bpTT’s Social agenda focuses on employment generation and skills development. This is why the company invests heavily in education; and why in 2004, the Company converted its staff recreation facility in Mayaro to a learning centre through partnerships with the UWI Open Campus, the UWI School of Continuing Studies, the Adult Literacy Tutors Association, and the SERVOL for skills training. But the hallmark of the Company’s social programme has been the Mayaro Initiative for Private Enterprise Development. Launched in 2002 and seeded with a modest TT$7.2m, the fund aimed to stimulate micro-enterprise development and economic diversity through self-sustaining employment. By 2012, the fund had already disbursed more than TT$37m to 2000 entrepreneurs and created 2000 permanent and 4000 part time jobs. Today the fund generates repayment rates of 85%, way above the norm.

bpTT’s commitment to good Governance is described as its primary responsibility. This is evidenced in its commitment to safety, building a safety culture within the sector, and entrenching diversity, equity, and inclusivity as core facets of its workplace culture.

NGC

When NGC outlined its CSR strategy in 2012, it was described to the Review as an “Innovative Community Economic Development programme which seeks to utilize the physical, human, social and cultural assets of the community to promote economic growth and selfreliance.”

The strategy was built upon four distinctive pillars. Community Economic Development is Pillar One by which NGC delivers skills training needed for the energy industry. Pillar Two addresses Community Engagement which deals primarily with awareness and emergency preparedness around NGC’s pipeline facilities. Youth Development is Pillar Three and this is delivered through investments in sports. Pillar Four, Contributions and Sponsorships, is more broad-based and addresses programmes and initiatives in Education, Arts & Culture and Human and Social Development.

By 2019 NGC was evolving as a global business and reconfiguring for sustainability. In support of the government’s commitment to the Paris Climate Change Agreement, NGC has been actively pursuing agendas related to Energy Efficiency. The Company shifted focus from just aggregating and selling natural gas to becoming more focused and collaborative with stakeholders along the entire value chain.

Nestlé

Nestlé prides itself as the world’s leading Nutrition, Health and Wellness Company, a distinction that is reflected in its CSV programmes. At Nestlé social responsibility is about Creating Shared Value (CSV). That means proactively identifying opportunities to link its core business activities to action on related social issues. For Nestlé “there is no higher priority than enhancing the

quality of life for our consumers by providing tastier and healthier food and beverage choices.”

Wellness is a serious concern for Nestlé in its product offering. Confronted by the alarming rates of lifestyle related diseases in Trinidad and Tobago, in 2012 the Company decided to tackle the issue of obesity. The National Risk Factor Survey of 2011 showed that 55% of the population was overweight. The Company launched its Wellness Caravan - a mobile unit that undertakes BMI testing and counselling to encourage healthy eating and healthy lifestyles.

In 2013, Nestlé introduced its first Annual Health Fair to raise awareness on childhood obesity (which stood at 23% for the Caribbean), and a family approach to health and wellness.

In terms of meeting ESG principles, Nestlé remains in the top quartile regionally and globally of the World’s Most Attractive Employers. The Company doesn’t just pay lip service to the notion of employees as their best assets, it invests in helping employees grow, develop and feel valued. In 2020 at the height of the C-19 pandemic, the Company was focused on ensuring that each employee was safe, healthy and secure.

Nestlé is committed to an inclusive workplace, to ethical advertising, ethical sourcing, accurate labelling, transparency in reporting in addition to continuous improvement of its products to meet stringent guidelines of the World Health Organization.

The following companies are outstanding for leadership roles in social responsibility in their respective sectors.

ANSA McAL has taken the bold step to entrench the SDGs and to employ ESG standards of measurement

and reporting into its business strategy and delivery. Following its acquisition of BG, Shell Trinidad and Tobago Limited has embarked on a definitive investment programme in transformative education.

Republic Financial Holdings Limited is leading ESG delivery in the financial sector.

Ansa McAl

Emerging from a family-owned company, the ANSA McAL Group has grown into a highly successful conglomerate reaching across the Caribbean and trading across borders. The Group’s Motto is “Together we are family” taking its home-grown values into the corporate sector. With a diverse workforce, a multisectoral business and a deep commitment to a responsible culture, the Group fosters a work environment that is built on meritocracy and a people-value approach.

Covid-19 affirmed the Group’s CSR philosophy of Collaborating for the Greater Good. Always with its people first, the Group has been at the forefront of national disasters and humanitarian relief. However, the pandemic showed just how much ANSA McAL values local communities.

The ANSA McAL Group is repositioning to place ESG principles at the centre of its operations. Over the last year, the Group has made a bold move to grow its business in step with Sustainable Development Goals and on the principles of Sensitivity to the Natural Environment, Societal Wellbeing and Good Governance. A key contribution will be creating a pathway for other Caribbean business to expand intra and extra regional trade to provide generational, regional wealth.

This year, ANSA McAL embarked on a systemic review of its social agenda, corralling its leadership into rethinking and re-strategizing about what it means to

be a responsible company using the lens of the SDGs and employing ESG principles to interrogate, measure and manage what and how it invests CSR spend. It has made social performance a dimension on how it appraises and rewards business delivery. Priorities for the Group are Water Preservation, Modern Energy, People & Communities, Climate Impact and Corporate Governance.

Shell T&T

Shell’s CSR programmes have evolved with the growth of the company, from its roots in heritage BG Trinidad & Tobago. In our 2012 edition, the heritage organisation designed its social investment programmes towards strengthening capacity through education and training, increased local content through employment and contractor development and in fostering empowered communities. Much of that work continues today; but Shell has opted to invest heavily in equipping the workforce of the future in preparation for the energy transition to renewables. Shell is using a STEM approach to transform the learning environment by introducing critical thinking into the secondary school curriculum.

STEM is based on the idea of educating students in four specific disciplines — science, technology, engineering, and mathematics — in an interdisciplinary and applied approach. Rather than teach the four disciplines as separate and discrete subjects, STEM integrates them into a cohesive learning paradigm. Shell has recently added Reading and the Arts, making it a STREAM methodology.

Shell’s flagship programme focuses on several areas of intervention: Teacher development -scholarships to the STEM Centre in the United Kingdom; a STREAM Centre and STREAM Technology Centre and Science Bus; Student support and development and access

to technical skills training; Science and Career Fairs; Employee Volunteerism; and establishing STREAM Centres over a three-year period.

Republic

Republic Financial Holdings Ltd strives always to improve the quality of life for those communities in which they operate through strategic partnerships, disaster relief, and economic strengthening. The iconic Power to Make a Difference Programme (PMAD), is built on four social pillars –Power to Help, Power to Care, Power to Learn, and the Power to Succeed - through investments in sports and environmental initiatives. These programmes are generally delivered through strategic partnerships with organisations that Republic monitors and audits to ensure that criteria for delivery are adequately met and that there is responsible management of resources and transparent reporting.

Republic focuses on a different theme over a four-year cycle and puts around 60% of its social spend in that key area. For instance, in 2004-2008 there were significant investments in poverty alleviation programmes and in 2009-2012 the focus was on the differently abled. In this way, the company has been able to make a bigger impact in driving measurable change in the lives of persons who are benefiting from its programmes. In 2013 the focus was on the Power to Learn through collaboration with the Ministry of Education and the T&T National Commission for UNESCO. The programme aimed at increasing literacy in infants by redesigning how reading skills are taught and includes training for teachers and infants.

More recently, along with 300 banks worldwide, Republic has signed on to the UN Principles for Responsible Banking (PRB) and has appointed an Office of Sustainability to integrate sustainability into its strategic

and operational processes. The PRB represents the world’s foremost sustainable banking framework and aims to accelerate a positive global transition for people and the planet by taking action to align their core strategy, decisionmaking, lending and investment with the UN Sustainable Development Goals, and international agreements such as the Paris Climate Agreement.

The Bu S ine SS of Kindne SS Making ‘Giving Back’ Sustainable

Evie Gurchuran

Guyana’s Woman In Business 2022

“I learned you can marry the two worlds – being in business but being conscious of how you do business. For me, it is about infusing kindness in all I do. It is about finding opportunity to give back, to mentor, to provide meaningful support to people who work with us, to help someone find their way even as we focus on doing business successfully.”

Evie Gurchuran has been incorporating kindness into her business life for decades. It began when she was still Evie Kanhai, one of five children of a strong, self-made family man who ran a large business in Georgetown, Guyana.

Everyone knew Kanhai’s Electrical & Variety Store, and moreso, Pastor Kanhai. As a Christian who believed in charity and often took his children into the socio-economically depressed parts of the interior to distribute food and clothing on holidays and to make a reality connect. It resonated with young Evie who was in her church’s Youth Arm, and already committed to giving back to community. This was not just about Christian teachings; it was a belief system the Kanhai family shared.

She also knew how to hustle. From the age of 12, she worked in the business, writing bills and later making trips as a suitcase trader, ferrying breakers, and other electrical components to Guyana in her luggage. “It was a buy and sell business - a hustle really,” says Evie, who was creative and strong-willed and destined to butt heads with Dad when she started seeing the possibilities that technology could bring. “Initially, he didn’t see value in my ideas, and that was hard because I was very creative, and innovative.”

Evie, of course, turned to Mom, telling her she wanted to work outside of the business so that she could put her creative energies to work. And so, she did, moving on to Laparkan Trading at 17, where she impressed the boss by designing flyers that she distributed in-store, encouraging customers to visit the Hire Purchase department, which at the time was located on the top floor of the Fogarty’s building. Inspired by the success, she soon started her own “side business”, designing logos, business cards and brochures for small companies.

She was attending the University of Guyana at the time but found it hard to keep up with the demands of work and study, and eventually dropped out and focussed on running the family business as her father’s health started to fail. Soon after she reconnected with a long-time friend – likeminded about business and philanthropy, and in 2008 she married Miguel Gurchuran, himself a Hindu but who shared her belief in charity. Dutifully supported by Miguel, Evie continued along the entrepreneurial path, guided by the principles of shared value – being socially responsible.

To look at Gurchuran Investments today, you’d think the Gurchurans succeeded at everything they put their hands to. Under its umbrella, there’s Emtec, a marketing and design business; Sites, which develops apps and websites; Java Coffee Bar, which supports local coffee growers and has three outlets in Georgetown, MovieTowne and Giftland Mall; and Co-Grow, a business incubator. But Evie has admitted: “There were so many days we wanted to give up, and for a long time, we were so overwhelmed.” Fortunately, they received mentoring and sound, friendly advice that “was worth more than any sales figure.”

In 2018, she won a Young Leaders of America Initiative opportunity in the United States, which exposed her to the importance of data in growing initiatives.

In 2019, her life took a turn that thrust her into the limelight and defined her with women and technology. It was a search for making a meaningful social impact. She designed a a proposal for a study entitled “Girls and Technology

The Bu S ine SS of Kindne SS Making ‘Giving Back’ Su STaina B le

Wedding Bliss

Java at Movietowne opening

Coffee training

Evie and Family

can change Guyana”. Funded through the IDB and with the US Embassy backing, she would survey over 200 women to understand how they used the internet, with the intention of creating programs that appealed to women. Soon, that exposure led to the global non-profit, Girls in Tech, approaching her to start a Guyana chapter. Again, it was back to the numbers. Girls in Tech surveys showed that young women entering the digital space needed mentorship and confidence-building.

The goals were simple: free and low-cost programming courses, and experienced mentors who the young women could call on as sounding boards. “That ability to approach the learning curve and to have someone hold your hand through it, is where I think we’ve done the best, and had the most impact,” says Evie. It was a window into career opportunities that the women could choose to open.

In her own businesses, Evie and Miguel support their employees by encouraging and funding education, as well as hiring single mothers who other employers might shy away from. The couple who have four young children, understand the demands of parenting and support their employees by encouraging inclusivity in decision making and processes to make the work environment a community for thriving.

Evie is also big on knowledge sharing, whether through a Facebook stream encouraging business owners to use their social media platforms as much as possible or conducting a Georgetown Chamber of Commerce and Industry (GCCI) seminar where she preaches the need to get out of the “buy and sell mentality” by finding ways to add value and focus on customer relationships. This year her efforts were recognised when she was awarded the GCCI’s Woman in Business for 2022.

Evie recently passed on the mantle and off-boarded as Managing Director of Girls in Tech but has kept up her

Launch of Girls in Tech - Guyana

Girls Tech Gala

Girls Tech Tough Talk Event

Evie receiveing the GCCI Award

The Bu S ine SS of Kindne SS Making ‘Giving Back’ Su STaina B le

advocacy for women in the digital space through Girls + Tech, a non-profit founded with her husband. Visible and constantly engaged, she has a network of funders and supporters committed to the idea of providing a technological catapult for the advancement of women. “It’s a really a community effort, and young people are keen for support” says Evie.

Today, Evie educates herself with specialized courses, on social responsibility and women in management. She’s focused on strengthening her proposal-writing skills to increase funding, and on managing her own non-profit. “From that, I can also help companies map their own CSR and match it to existing non-profit work.”

From her father, she learned a grave and important life lesson. Despite running a multi-million-dollar business, his illness quickly depleted his funds, and he had little money to take care of himself when he fell seriously ill - in part because he had given much of it away; but also, because as a simple businessman who pulled himself up from the bootstraps, he didn’t fully understand the world of finance, posterity, and sustainable planning. Evie and her husband want their four girls to understand their social responsibility while acknowledging the importance of their own welfare. “They have a responsibility to be kind and help where they can,” she says. “But we also teach them to understand how money works – beginning in basic ways like saving for things they want, and rewarding themselves when they achieve goals, they set out for themselves. We also impart that the best person to take care of your future, is you. Today I honour my father’s memory by doing what I can but not more than I can.”

Through her role on the board of the GCCI, Evie Gurchuran has successfully planned and executed a National Small Business Week, along with other initiatives which have supported small and micro businesses by raising awareness at the National level.

The 20% government contract awarded to Micro and Small Businesses is linked to Evie’s position as CEO of EMTEC. The company developed and implemented software to manage micro and small businesses, track spending and report on related government spending.

G lo B al S ha P e RS TT driving dialogue and inspiring Change

An interview with Stefanie Gouveia

Tell us about the organization Global Shapers Community, and what do they do?

Brooke Hadeed, Jade Murray, and Sofia Rajkumarsingh from the Global Shapers Community, Port of Spain (POS) hub, sat down with the CSR to talk about their recent project on Food Security and Regenerative Agriculture. The project hosted a diverse group of 27 participants and held a series of workshops that focused on improving production by teaching farmers business management and sound agricultural practices.

BH- The Global Shapers Community was born out of the World Economic Forum, created 11 years ago and our local hub in Trinidad & Tobago was formed 9 years ago. It’s a network of young people, between the ages of 18-30, working in their communities that self-organize to create projects that have an impact on a local, regional, and global level.

When we say global, to really get the breath of it, the community has 15,000 members from 150 countries around the world so global is emphatic. There are 6 other hubs in the Caribbean as well, so we try to assert our presence as a region.

Being a part of the Global Shapers has been such an experience. In September, Jade and I were invited to Geneva, Switzerland to the wealth headquarters to meet other leaders from other hubs. Jade can jump in as well to this point (Brooke laughingly signals to her colleague)

Members of the Global Shaper Port of Spain hub at Wa Samaki Ecosystems in Freeport, Trinidad

JM- Brooke pretty much summarized it. We’re groups of young persons that self-organize to drive dialogue, action, and change on pressing issues facing our communities and are guided by impact areas given by the Global Shapers headquarters.

Our POS hub recently did a survey and selected three impact areas for this curatorship year: reskilling for the future, building inclusive communities and health & wellbeing, which we are really excited about.

As Brooke mentioned, we were invited to the 2022 Annual Curators Meeting in Geneva, the home of Global Shapers. There were close to 500 persons representing different countries and for me, it was refreshing being there as you really got a sense of the globality and that we belong to such an impactful community. It was also very inspiring to see other young persons come together to create much needed projects for their communities and realizing that we are all facing variations of very similar problems.

BH- Food Security in basic terms is the availability of food to a given population and the ability of that population to access food. We are fortunate here in Trinidad & Tobago to have food in our groceries and markets, but the reality is that 80-90% of what we consume is imported. When you go through a cataclysmic event like Covid-19, which wasn’t just a health event but a massive economic shift, exposing the vulnerability of supply chains, you realize the food we eat may not be available forever and is becoming increasingly harder for certain groups of society to access.

We wanted to explore a way of bringing down the consumption of foreign foods and replacing it with local foods that are nutritious, well adapted for growth, a beneficial source of income for farmers and affordable for communities to access.

We didn’t just want to find a way to increase production but to help farmers produce more by producing better, which is where Regenerative Agriculture comes in.

Regenerative Agriculture is like a rehabilitation approach to food systems where farmers aren’t just using land to grow but putting back into the land, making it stronger and more resilient. The majority of agriculture practised in Trinidad is monocrop but regenerative agriculture involves diversifying crops, covercropping, composting, integrating animals, and agroforestry. This process brings farming back to nature and shows that it’s a perfect system giving us everything we need to grow food, protect against natural disasters, sequester carbon dioxide from the atmosphere, help mitigate against climate change and allow us to grow healthier and better food for our local population.

As a Global Shaper, you seek to address pertinent issues facing your community. Your team recently held workshops on Food Security & Regenerative Agriculture. Can you tell us what that is?

How does the issue of food security affect or impact our society?

JM- As Brooke mentioned those startling figures on food importation, food production worldwide also accounts for nearly a quarter of global greenhouse gas emissions. So as a sector, finding different ways to reduce our emissions is really important. Imagine becoming more self-reliant in food production, becoming sustainable and regenerative and also having low carbon emissions, that’s a win-win for all of us. To reach a place where we consume more nutritious and sustainable food will have to come from a culture switch, where consumers start wanting to eat more locally produced foods rather than the foreign food to which our palates are accustomed.

BH- Yes, it’s a topic that really touches on every note. There are the obvious environmental impacts, there are the economic impacts-we want to be able to grow this other sector of our economy and we also don’t want to be spending as much scarce foreign exchange on imported food. But, it’s social as well, because for people who are struggling more and more to access their basic needs, imported food is getting more expensive and it’s not as great nutrition wise compared to fresh produce that we can source locally. So, it hits at several levels.

As indicated, this is a relevant topic so tell us about the genesis of the project-how was the idea formed?

BH - It’s been a long road to get here, nearly 2 years. What we do at Shapers is, once a year, we discuss strategies and ideas for the year ahead. This was one of the ideas I put forward at a strategy session - to address the issue of food security and it happened to get the most votes.

It’s been a long process of design, development, and research as we wanted to learn more about food security & regenerative agriculture before jumping into a project. No one on the team had a strong background in agriculture. There were some environmentalists and members who had taken courses in permaculture or regenerative agriculture but no one that was really an expert. It’s important to do the research and delve into the problem of why it exists and what are the best solutions we can provide.

Also, through the Global Shapers community we were able to take part in a project incubator series through the Climate Reality Project, a US based environmental organization. We went through a 5-series workshop where they allowed us to develop our project idea, brainstorm with each other, bounce around ideas with people from other hubs and their projects around the world. We came out of that with a solid project proposal, allowing us to apply for a grant, which at the time we didn’t win. However, with persistence, we were given a larger grant 6 months later. Finally, we had the resources to carry out this project.

Can you share what were some of the objectives for the workshop? What was the Global Shapers hoping to achieve?

BH- In partnering with Wa Samaki Ecosystems, we wanted to teach not only the principles and practices of regenerative agriculture but give participants the tools to scale up their production because if they are choosing farming as their occupation, they have to make a living and create a sustainable livelihood for themselves and their families. So, in addition to practical agricultural teaching, we wanted to teach them about business.

We had a series of six workshops: Permaculture design, Water Management, Composting, creating Syntropy Beds and later in the program we did Marketing & Distribution and Access to Finance.

A unique component of the project was that a part of our budget was allocated to microgrants. The participants were able to take what they learnt, create their own project proposal, submit for review, and potentially win funds to run their own project. This focused on the scalable and sustainable aspect of the project.

JM- This has been an exciting process for me as we are currently in the process of reviewing microgrant applications. One person proposed a community composting bank, addressing the need for more home/community gardening and the lack of nutritious soil. The second idea was to create community gardening plots around Trinidad. To see these ideas is amazing…coming out of the pandemic…it should prompt us to reflect on how we can make our own local communities self-sufficient and self-sustainable. I am so glad that this project helped inspire people to start thinking about how they can start implementing these ideas.

BH-We also had down as one of our objectives ‘to create a supportive network’ but what it became in actuality…we didn’t expect. The participants have become a community and supportive network for each other. We created a WhatsApp group, and they are always sharing information and looking to help each other. It really created this bonding experience.

For me, the standout of the project was to see how they all came together and formed this great relationship and continue to share different courses and resources with each other. It’s really been amazing.

What is the importance of engaging with local farmers on Food Security?

SR- I joined Shapers while the project was ongoing but what I noticed was that it helped the farmers learn new skills, touching on the impact area of reskilling for the future. Yes, they have farming skills but it also taught them the regenerative aspects of it, showing them how to market their products and set up their businesses. We also had speakers from Market Movers and Unqueue to assist with marketing and distribution practices.

BH - This is not a new topic; food security has been in the newspapers and was very topical during the Agri Expo a couple months ago. It is important because farmers are the ones on the ground, in the soil, creating food for us. Trinidad is a blessed environment with year-round fertility and diversity for our produce and we should be tapping into that.

We need to be giving our farmers the tools and education they need but it can’t just stop there… It's down to those who support them; we need consumers who will support local produce, we need banks and financial institutions that will support farmers and the long-term process of creating a regenerative farm. They are not growing cash crops, where you will see a financial return within a year, two years, three years, there needs to be long-term thinking for this to be successful.

It is a whole system effort, but it starts with giving support to farmers and also encouraging young people to pursue this as a viable career. That’s one of the reasons why food import constitutes 90% of our consumption - because agriculture has really dwindled as an industry.

It’s great to see young people using aquaponics, hydroponics and being involved in regenerative agriculture. They are trying to do a lot of new stuff and we just need to support them as much as we can.

To find out more on the Global Shapers Community Port of Spain hub, head to https://www.globalshapers.org/

Participants in the Global Shapers 'Food for You Program' at the Wa Samaki classroom

Participants of the Global Shapers Food for You Program preparing a syntropic bed during on of our workshops on Syntropic farming

Seprod Foundation is the proud title sponsor of the Seprod Foundation Budding Farmers Grow Club in Jamaica that was officially launched in May of this year. This initiative, which was triggered by supply challenges during the pandemic, is aimed at promoting agriculture among Jamaicans and encouraging them to appreciate the importance of food security to the development of communities.

Seprod Limited (“Seprod”) is a food manufacturing, distribution and agribusiness group. Seprod was founded in 1940 and is a blue-chip company listed on the Jamaica Stock Exchange. Seprod represents leading global and regional principals and also has a significant manufacturing base spanning oils and margarine, wheat and corn milling, integrated dairy and biscuits and snacks.

Linking food production to food consumption is central to Seprod’s strategy to grow its food manufacturing and distribution business regionally as the Caribbean Community grapples with the notion of food insecurity.

At the 42nd Caribbean Heads of Government Meeting (CHOGM) in July, The Council for Trade and Economic Development (COTED) deliberated on advancing the Caribbean Community (CARICOM) food systems agenda. The Council was mandated to look at initiatives and programmes that will remove non-tariff barriers to intra-regional trade by rationalising several attendant issues including the approval of the Draft CARICOM Trade Policy for Animals and Animal Products. Also on COTED’s radar is accelerating the CARICOM agri-food systems agenda to address the current food security challenges and rising food prices; and to determine a pathway for CARICOM to achieve its 25 by 2025

Vision which is the reduction of its food import bill by 25 percent by the year 2025.

Seprod and other food manufacturers will continue to play an important role in ready access to food as CARICOM Ministers of Agriculture address the issue of intra-regional market access, market access from extra-regional sources, the role of private sector investment in agriculture, and issues pertaining to the Common External Tariff (CET).

Seprod’s Budding Farmers Grow Club programme aims to instill a love of agriculture in primary school students and to attract an increasing number of persons into farming and food production. This augurs well for regional food security.

A Budding Farmer is anyone who does not have any formal training in farming or agriculture but is willing to learn and to continue to grow. Budding Farmers participating in the Grow Club will learn about composting, planting from seeds and kitchen scraps, good insects vs. bad insects, organic pesticides, understanding how plants grow, understanding the importance of eating healthy and so much more.

The Seprod Foundation has been providing scholarships for over 30 years and more recently began to play a role in bringing innovative experiences to children in Jamaica. Major projects include the World Robot Olympiad, the Hour of Code, Jamaican Girls Coding, Scratch Day and professional development opportunities for teachers in technology. We have supported social interventions such as the National Youth Orchestra and Freedom Skatepark, providing opportunities for young people to engage with sport and music.

ali G nin G fa RM in G and food di STR i B u T ion Seprod - Food Distribution

In its 2021 Sustainability Report which was released in April this year, Methanex Corporation, the world’s largest producer and supplier of methanol, shared a year of focused action on identified material environmental, social and governance (ESG) areas. “As a global leader in the methanol industry, we recognize that we have an opportunity and are wellpositioned to actively participate in the transition to a low carbon economy,” said John Floren, President and CEO of Methanex. “In this year’s report you will read how we have deepened our understanding of the opportunities and the risks for methanol and our business as part of the energy transition.”

Highlights from Methanex’s 2021 Sustainability Report:

Committed to reducing Scope 1 and Scope 2 GHG emission intensity from manufacturing by 10% by 2030 from 2019 levels.

Demonstrated the best safety performance to date with a 60% reduction in recordable injuries from 2020.

Committed resources to pursue emissions reduction initiatives, including a feasibility study for carbon capture, utilization, and storage in North America, and technology research studies of a new conventional methanol plant design that could significantly reduce CO₂ emissions.

Pursuing green methanol offtakes and have the ability to produce green methanol at the Geismar site using renewable natural gas to supply the market as it develops.

Restarted construction on the 1.8 million tonne G3 project, an industry leading plant which will have one of the lowest CO₂ emissions intensity profiles in the industry.

Waterfront Shipping subsidiary completed the first-ever barge-to-ship methanol bunkering operation at the Port of Rotterdam, demonstrating Methanex’s continued leadership in advancing methanol as a cleaner-burning marine fuel.

Established a Global Diversity & Inclusion (D&I) Council and a new senior role of Director, D&I to lead the development of Methanex’s D&I Strategy and the implementation of a 3-year D&I roadmap.

The company stated that “this year’s report represents another important step forward to enhance Methanex’s ESG disclosure as we align with elements of the Task Force on Climate-Related Financial Disclosures (“TCFD”), including board and management oversight of climate-related risks and management of these risks. The disclosures in the Report also continue to be aligned with the Sustainability Accounting Standards Board (“SASB”) reporting standards for the chemical and marine transportation sectors and some requirements of the Global Reporting Initiative (“GRI”).

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Scotiabank is a signatory to the Net-Zero Banking Alliance and part of the global United Nations-led initiative to accelerate and support efforts to address climate change. Here in Trinidad and Tobago, the bank has focused its social agenda on agriculture and food security.

Here in T&T, Scotiabank sees agriculture as playing a key role in achieving the global goal of net-zero carbon emissions by 2050. The institution has teamed up with the The Sustainable Unemployment Reduction Efforts (SURE) Foundation to contribute to food sustainability via the distribution of seedlings amongst farmers and households in rural areas.

“The (SURE) Foundation was founded in 2010 and in the last year, 10,000 households in Southern Trinidad and numerous children’s and special needs homes across the country, established kitchen gardens and grow boxes as a direct result of a seedling distribution initiative, supported by the Scotia Foundation.”

The aim is to promote healthy choices, and importantly, to help reduce the food bill of households as a step change towards domestic

self-sufficiency. Covid-19 and the war in Ukraine have underscored the issue of food security and the importance of domestic supply – especially during periods of disruption or economic volatility.

In 2022, the Scotia Foundation is funding the distribution of 200,000 seedlings across additional households and Children’s Care Homes. Fruit trees will be added to the initiative at the children’s homes and SURE Foundation will also work with a targeted group of households this year to enhance their gardens in order to provide income for their families.

In a public statement, Scotiabank states that it “has been providing financial services to Canadian farms and agri-businesses for more than 185 years. From small family farms to large-scale producers and processors” in its commitment to serve those who feed the nation. Women in Agriculture also benefit from a $10 Billion commitment that Scotia has made to advance women owned businesses in Canada.

The organisation aims to be “a leading supplier of financial services to agriculture in Canada and increasingly to the global agricultural market.”

S

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Scotia SURE Foundation

A minimum of USD $ 1 Million is allocated to communities across the Caribbean each year by the FirstCaribbean International ComTrust Foundation. The Foundation is the governing body for the Bank’s Corporate Social Responsibility initiatives to contribute meaningfully to the social health and wealth of the Caribbean.

In more recent years, natural disasters have topped the list as island states battle with the issue of climate impact. In 2017 two Category 5 hurricanes wreaked havoc across the region resulting in death and destruction. The Foundation donated USD $550,000 to communities in Antigua and Barbuda, Anguilla, the BVI, Bahamas, St, Maarten, Dominica and the Turks and Caicos Islands.

The Bank has also been at the forefront of energy transition and renewables financing. When the Caribbean Renewable Energy Forum (CREF) gathered for its 14th session in May, CIBC FirstCaribbean was named the recipient of the award for Best Renewable Energy Financing in the 2022 CREF Industry Awards. CIBC FirstCaribbean was recognised for its innovation and leadership in corporate financing of key initiatives in the renewable energy sector.

Between 2020 and 2021, the bank spearheaded the refinancing of project portfolios of two major renewable energy players in the Caribbean: BMR Energy, a developer of wind and solar photo-voltaic (PV) assets in multiple territories of the region and

Central America and WRB Energy, an investor in the largest utility-scale solar PV plant in Jamaica.

Former CEO Colette Delaney affirmed the Bank’s leading position in renewables. “Our bank will continue to focus on the types of investments that can be a catalyst to our region’s recovery, such as renewable energy investments. Infrastructure investment, in general, is important to stimulate the economy, put people back to work, create new jobs and encourage increased cash flow circulation to resuscitate our economies and ensure our future success.”

Primary focus areas for social investment have been Health and Wellness, Staff Volunteerism, Youth and Education, sport, and Community/Environment.

1. Health and Wellness - CIBC FirstCaribbean supports all efforts to raise the public's awareness of all types of cancer, including early detection, treatment, and the urgent need for a permanent cure. Our Walk for the Cure event runs parallel with the Group’s Run for the Cure. The programme also works in partnership with Toronto’s Hospital for Sick Children (SickKids) Caribbean Initiative focuses on the diagnosis and treatment of childhood cancer. As Nursing Training Partner, we ensure Caribbean nurses have the required training in Oncology to care for our youngest citizens.

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2. Staff Volunteerism - For CIBC FirstCaribbean staff volunteerism is an imperative. Many projects undertaken are identified by our community leaders and our staff and are completed with love and dedication by those who have given of their personal time and labour to ensure success. Our enduring Adopt-ACause programme is testament to the ability of our employees to keep their fingers on the pulse of the community they serve.

3. Youth and Education - Empowerment of the youth continues to be a priority for CIBC FirstCaribbean. The bank provides support to the Caribbean Group of Youth Business programmes - "CYBP" and REAP. Start-up funding for micro-businesses and funding for business-related projects in Caribbean schools are key features of these programmes. The bank also maintains a longstanding Memorandum of Understanding with the University of the West Indies and cooperates in areas such as scholarships, curriculum development, research, development of business cases for students in the entrepreneurship programmes, preparation for the world of work, and the development of facilities.

4. Community/Environment – Our social programmes have made a difference in turning around the lives and day-to-day running of institutions that we have supported, whether financial or through the volunteerism of staff.

Corporate Sustainability Review 2023

In recognition of the Commonwealth Secretariat's Year of Youth 2023, we invite stories on investments and initiatives in youth development, empowerment and issues confronting the youth population in the Caribbean.

Demerara Distillers Sustainability_bio_plant

Demerara Distillers Limited is a 300-year-old company. It was previously owned by the British companies Booker-McConnell Bookers and Sandbach-Parker’s Company, producers of bulk rum. In 1976, after Guyana gained its independence, the remaining distilling companies became public companies as shares were sold to Guyanese institutions and the general public. In 1976 they merged to become Demerara Distillers Limited.

The company takes ESG seriously and has stated commitments and actions that support this.

Environment

Demerara Distillers aims to manage its supply chain from raw materials through the production process to the point of delivery to the market in a manner that minimises the impact of its operations on the environment. This is its stated environmental commitment.

Its bio-waste project attests to this. In 2010, DDL built its bio-methane plant to convert liquid waste from the distilling process to energy to power its distillery. An ambition to convert 50% of distillation bio-waste to energy was the goal. Almost 10 years on, the aim is to increase this to 100%.

In addition, its use of Liquefied Natural Gas (LNG) as a supplementary power, means DDL’s facilities emit 20% less carbon as compared to conventional diesel combustion. Its Diamond Distillery also has a Carbon Dioxide (CO2) Plant which reduces the release of CO2 into the air. The CO2 that is

C o MM i TT ed To e SG PR in C i P le S

produced during fermentation is trapped, purified, liquefied and stored at the plant then later used for carbonation of soft drink, production of dry ice and other industrial uses. The introduction of new stills allows for recovery and reuse of energy.

Social

In 2010, the DDL Foundation was established as a charity that supports the advancement of education by providing five-year scholarships to students in secondary school.

The goal of the Foundation is the advancement of education among secondary school students by providing scholarships to assist with the main costs associated with attending school. This includes books, uniforms, transportation and, in some cases, meals. Students who have excelled at the National Grade Six Examination and who have demonstrated their need for assistance as a result of their financial or social constraints are eligible to apply.

Governance

The company also operates by a robust set of Corporate Governance Policies.

Insider Trading

Anti-Money Laundering

Conflict Of Interest

Anti-Discrimination And Anti-Harassment Policy

Anti-Bribery And Anti-Corruption Policy

Corporate Donation Policy

e SG P R io R i T ie S

RBC is a global financial institution and is selfdescribed as having “a purpose-driven, principlesled approach to delivering leading performance.” Its success, it states, comes from its global workforce of 87,000-plus employees, who live the organisation’s values and vision.

The bank is one of the largest in the world and commensurate with its commercial success, is committed to creating a positive social impact in how it does business. The bank believes that corporate citizenship is about integrity, business ethics and responsible governance, and holds itself to the highest standards – in ways that demonstrate responsibility and build trust.

In its 2021 ESG Performance Report, the organisation highlights its current progress on implementing ESG principles. Of significance was its establishment of a Climate Strategy Steering Committee, a female population of 46 & and ethnic minority population of 23%. It also ranked at 82 average percentile on its ESG priorities.

RBC’s CEO Name says. “Our aim is to tackle some of society’s greatest challenges in the communities where we live and work. To do so, we integrate ESG into our strategies and operations, which enables us to align our actions with the broader aspirations of our stakeholders.”

The Company’s value strategy is to deliver value for employees, shareholders, communities, and the planet.

For Employees RBC aims to provide meaningful work and growth opportunities for its people by

attracting and retaining talent, creating experiences that enable our people, and by strengthening a diverse and inclusive culture.

For Clients RBC aims to create value and an exceptional experience by nurturing deep, multifaceted relationships with clients, through innovating digitally enabled experiences and insights, by providing security and privacy through strong technology and data foundations, and by providing products and services with positive social and environmental impact.

Shareholders value is attained by maximizing total shareholder returns through the achievement of top-half performance compared to our global peer group over the medium term, through premium growth and ROE driven by diversified, marketleading franchises, by a strong balance sheet and prudent risk management, by returning capital to shareholders, including dividend growth, and by disciplined expense management while investing for the future.

For Communities, RBC is building a better future by generating and distributing economic value, by preparing young people for the future of work, by supporting an inclusive and responsible supply chain, and by advancing financial literacy and inclusion.

Value for the Planet is achieved by supporting clean economic growth and the transition to a netzero economy, by helping clients as they transition to net-zero, by holding itself accountable, by informing and Inspiring a sustainable future, and by advancing net-zero leadership in our own operations.

RBC Performance Report

The Demerara Bank Limited Bank is aligned to the UN Sustainable Goals in how it operates. Of particular importance, Demerara Bank offers a special loan scheme geared towards Guyana's Go Green Initiative. Greening initiatives generally refers to increasing efforts to support energy efficiencies of mechanical and lighting equipment, improve air quality, increase water conservation, higher concentration of waste avoidance, increasing recycling streams, and engaging catering in environmentally friendly practices.

In Guyana, the Government is dedicated to ensuring a sustainable low carbon environment for Guyanese through the development of the Guyana Green State Development Strategy (GSDS). This is a collaborative effort to guide the country’s economic and sociocultural development by diversifying the economy, reducing dependence on traditional sectors, and creating new sustainable income and investment opportunities.

The Bank is proud to be the first commercial institution to operate its Corporate Office solely on solar energy and has converted most of its locations to solar energy to reduce its carbon footprint. The Bank is also the leading source of solar financing in Guyana.

Following extensive flooding last year, the Bank introduced a new farmers’ credit line programme in support of food security and to address the financial loss to the farming community. The new loan programme was launched after consultations with the local farming community and provides access to much-needed financing. The loans programme requires no collateral and provides between $1 million to $1.5 million, at an interest rate of just 7.5 per cent. Processing and commitment fees have also been waived.

G oin G GR een , G oin G fo RWa R d

Demerara Bank Limited was incorporated on January 20, 1992 as a private limited liability company under the provisions of the Companies Act, Chapter 89:01 and was licensed to carry on the business of Banking on October 31,1994. The Bank obtained its Certificate of Continuance on April 2, 1997 in accordance with the Companies Act 1991. The Bank offers a complete range of banking and financial services and operates under the Provisions of the Financial Institution Act (Act 1 of 1995).

The Demerara Bank Limited (DBL) was founded by Guyana born philanthropist and businessman, Dr. Yesu Persaud on principles of inclusivity and to foster entrepreneurism in Guyana. His personal mantra was to “help those who cannot help themselves for as long as I can, wherever and however possible.” Journeying from a childhood on the Diamond sugar cane plantation, to becoming a pioneer of micro and small enterprise during a period of extreme national hardship and economic suppression, he was seen as an innovator and visionary.

The process of liberalization had just begun, with the shift from rigidly controlled to a more open economy emerging. Dr. Yesu Persaud’s entrepreneurial instincts, coupled with his solid understanding of the economy, led him to the view that there was a need for a truly Guyanese bank—a bank that would capture the latest technology and provide export trade finance, all while offering high-quality, personalized, and competitive products and services. Indeed, Dr. Persaud envisioned a bank that would serve as a catalyst for growth.

Demerara Bank Flood Relief

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M ea S u R e M en TS fo R 2022

Independent Measurement On Nine ESG Indicators

GHG Emission Reduction

Performance Measure: Sum of all the projects of GHG reduction and removals vs. 2018 baseline, in million tonnes of GHG.

In its statement on how it reports ESG performance, Nestlé states, “Transparent, public reporting on our activities, commitments and performance is embedded in how we do business at Nestlé. The Company engaged EY to provide independent assurance of nine (9) selected Environmental, Social and Governance (ESG) key performance indicators (KPIs) of high strategic importance to our business. Each KPI has its own internal guideline including processes, tools, roles and responsibilities, and draws data from several independent sources. Data not available in the systems was “construed in good faith according to best practice and industry standards.” Below are highlights of Performance Measures and Definitions.

Selected Environmental ESG KPI List

Definition: The latest report by the Intergovernmental Panel on Climate Change (IPCC) has reconfirmed that in order to limit global warming to 1.5°C above pre-industrial levels and avoid the most catastrophic impacts of climate change, the world must halve GHG emissions by around 2030 and reach net-zero GHG emissions by mid-century. Nestlé, committed to reach net-zero emissions as part of the Business Ambition for 1.5°C campaign. The campaign is led by the Science Based Targets Initiative (SBTi) and backed by a global coalition of UN leaders, business organizations and NGOs.

Water Reduction

•

• Water use reduction in factories

Greenhouse gas (GHG) emissions reduction

• sustainably

Percentage of key ingredients produced

• supply chain

Percentage of deforestation-free for primary

• for recycling

•

Percentage of plastic packaging designed

Percentage of virgin plastic reduction

Selected Social ESG KPI List

• with micronutrient fortification (MNF)

Number of servings of affordable nutrition

• with access to economic opportunities

Number of young people around the world

• positions

Women in the top 200+ senior executive

Performance Measure: Water use reduction in factories Performance Measure m3 of water use reduced in our factories.

Definition: Annualised savings from Nestlé factories obtained from qualifying improvement projects delivering benefits in 2021 and measured in m3 of water saved during 2021. Scope All entities that are or were Nestlé factories during 2021.

Percentage of key ingredients produced sustainably

Performance Measure: Percentage defined by the total volume of key ingredients in scope that are considered as produced sustainably divided by the total volume of key ingredients in scope (measured in metric ton) during the given year.

•

Environmental KPI

Definition: Produced sustainably is defined as where both the material origin and social and environmental performance of the key ingredient is known. The main criteria to define if a key ingredient is produced sustainably are, but not limited to, the following: the material is traceable back to the point of origin (farm or group of farms), human rights and environmental due diligence systems are in place to assess, address, and report on the potential or actual impacts in the supply chain as defined in the Nestlé Responsible Sourcing Standard, and the tier 1 supplier is measurably progressing in addressing identified human rights and environmental impacts identified in its supply chain, as well as animal welfare where applicable For each key ingredient in scope, specific criteria have been defined to ensure and assess specificities of the key ingredient (key ingredient guidelines).

Percentage of deforestation-free for primary supply chain

Performance Measure: Percentage defined by the total volume of commodities in scope assessed deforestation-free divided by the total volume of commodities in scope (measured in metric ton) during the given year.

Definition: This KPI aims at ensuring that the commodities in scope that we buy do not originate from:

Areas converted from High Carbon Stock (as • defined by the High Carbon Stocks Approach) forests and habitat such as peatland, wetlands, savannas

• on the Ramsar List

UNESCO World Heritage Sites and wetlands

The commodities in scope include the direct supplies of palm oil, pulp & paper, soya, meat, and sugar for Nestlé.

Percentage of plastic packaging designed for recycling

Performance measure: Percentage defined by the total volume of plastic packaging designed for recycling divided by the total volume of plastic packaging.

Definition: Nestlé has developed its publicly available “Rules of Sustainable Packaging”, composed of the Golden Rules and the Negative List, that are driving the sustainable packaging transformation of the Group. Primary, secondary and tertiary packaging are taken into account in the calculation. Packaging Designed for Recycling (D4R) refers to packaging materials and formats which are compliant with the Negative List and aligned with the Golden Rules. It does not systematically correspond to packaging “recyclable in practice and at scale”, as per Ellen MacArthur Foundation’s definition , nor to packaging being “effectively recycled”.

Percentage of virgin plastic reduction

Areas converted from natural ecosystems–

• Peatlands of any depth, except where farming practices protect peat– International Union for Conservation of Nature (IUCN) protected areas categories I-IV

Performance Measure: Percentage defined by reduction of usage of virgin plastic between 2021 and 2018, divided by total virgin plastic volume of 2018. Virgin plastic volume is obtained by deducting the recycled plastic volume from the total plastic packaging volume of the period. Primary, secondary and tertiary packaging are taken into account in the calculation.

Definition: Virgin plastic is defined as plastic that has not been previously used or subjected to processing other than for its original production. It includes fossil

and bio-based plastics. Recycled plastic is defined as pre-consumer and/or post-consumer plastic packaging as per the ISO 14021:2016 standard. The KPI reflects the recycled content of the packaging portfolio at the end of the reporting period. The KPI is calculated using the last available material specifications applied to the packaging quantities of the full reporting period.

Number of servings of affordable nutrition with micronutrient fortification (MNF)

Performance Measure: The KPI is the number of fortified servings of affordable nutrition sold in emerging markets The sales that meet the following two criteria are counted as part of the KPI:

Products which meet the definition as Popularly Positioned Products (PPP) Affordable Nutrition and Products have been fortified with at least one of the Big 4 micronutrients (Iron, Iodine, Vitamin A, Zinc) in accordance with the Micronutrient Fortification policy. To determine the number of servings, a serving size is defined for each stock keeping unit (SKU) and maintained in the SAP material master data. The serving size is a critical piece of information that, when used in conjunction with the recipe data, allows the amount of nutrient (or ingredient) contained in the serving to be calculated in order to reach 15% NRV (Nutrient Reference Value) with at least one of the Big 4 micronutrients.

Definition: PPP is Nestlé’s business strategy to provide accessible products and affordable nutrition to lower-income consumers in emerging countries through a competitive value chain. Affordable Nutrition products are quality products with enhanced nutrition credentials (for example, nutrient-fortified products), that meet the price point suitable for the target market.

Three categories drive Affordable Nutrition: Dairy, Nutrition and Ambient Food. Affordable nutrition with micronutrient fortification is defined as a serving of eligible PPP affordable nutrition SKUs fortified with at least one of the Big 4 micronutrients (Iron, Iodine, Vitamin A, Zinc).

Number of young people around the world with access to economic opportunities

Performance Measure: The KPI is the number of opportunities offered to young people, defined as individuals below 30 years old, which include jobs or the essential skills to prepare them for economic opportunities.

Definition: The KPI is measured based across three pillars of activities: Employment & Employability, Agripreneurship and Entrepreneurship, with the following sub-groups:

– Employment & Employability, Agripreneurship and Entrepreneurship

Women in the top 200+ senior executive positions

Performance Measure: KPI is the ratio of women currently holding senior executive positions versus the total population of professionals currently holding senior executive positions on December 31, 2021.

Definition: With its Gender Balance Acceleration Plan, Nestlé puts further emphasis on increasing the proportion of women in the group’s top 200+ senior executive positions from around 20% to 30% by 2022. This is another step in Nestlé’s journey towards gender parity.

Note to Reader: In addition to reducing the details provided, for brevity, the Scope under each performance indicator was omitted. For the full document see: https://www.nestle.com/sites/default/files/2022-03/reporting-scope-methodology-esg-kpis-2021-en.pdf This has been excerpted from Web Source: Reporting Scope and Methodology for ESG Key Performance Indicators @ www.nestle.com

T he C on T e XT fo R G ood G oV e R nan C e

By Wendy Singh

The Role of the State

Good governance should therefore focus on the process necessary for ensuring optimum outcomes for all.

Good public governance is best manifested by the degree to which fundamental human rights are delivered to its citizenry. The Office of the UN High Commissioner for Human Rights (OHCHR) identified five key attributes of good governance, which entail minimizing corruption, taking the views of minorities into account, and ensuring the participation of the most vulnerable in decisionmaking. The Council lists human rights standards and principles that would provide a set of values to guide the work of State and non-state actors, as well as ensure accountability of these actors. These principles and standards are: transparency; responsibility; accountability; and participation.

According to the OHCHR, decision-making and the manner in which decisions are enforced, should always be transparent ensuring that all those who will be impacted are provided with adequate information through comprehensible formats. Responsible governance includes servicing stakeholders within reasonable timeframes and applying a consensus-oriented process that allows decisions to be reached in an equitable and inclusive manner, as well as in the best interest of all communities.

Inclusive participation

Accountability to stakeholders is essential for good governance and is required by governmental institutions,

the private sector and civil society organizations. Participation by all in representative democracy, including the most marginalized and vulnerable in society, is a cornerstone of good governance that requires full protection of human rights that is guaranteed by a fair, affordable, and accessible justice system, which is enforced by an independent judiciary.

One might say that good governance is an elusive idea. However, governments made a commitment to working towards the fundamental human rights that will ensure sustainable development for future generations when they adopted the 17 Sustainable Development Goals (SDGs) of the 2030 Agenda for Sustainable Development in September 2015. These rights are also embodied in international and regional treaties and conventions that governments have ratified.

SDGs and Public Governance

The SDGs are meant to

save our planet

for generations that will follow, end extreme poverty and hunger, and to create a healthier, safer, more inclusive world. According to the Organization for Economic Cooperation and Development (OECD), the goals that are most relevant to public governance are: Goal 2 - end hunger, achieve food security and improved nutrition; Goal 5 - achieve gender equality and empower all women and girls; Goal 6 - ensure sustainable water management and sanitation;

Goal 9 - build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation; Goal 11 - make cities inclusive, safe, resilient, and sustainable; and Goal 16 - provide access to justice for all and build effective, accountable and inclusive institutions at all levels. These goals are broad and complex for small developing States but the OECD has assisted governments with implementing cross-cutting initiatives that require improvement of governance processes and with helping them to understand the institutional arrangements and alignment of policies that are necessary for their delivery.

Goal 2 – Managing the Regional Food Bill

In relation to Goal 2 to end hunger, achieve food security and improved nutrition, a survey published by the Caribbean Community (CARICOM) the World Food Programme (WFP) in September 2022, revealed that over a six-month period the number of people facing moderate to severe levels of food insecurity rose by 46 percent in the English-speaking Caribbean. The survey found that people are using negative coping strategies such as selling off their assets and using their savings to meet their basic needs –measures which could only exacerbate the situation. Further, nearly 6 percent of people involved in the survey reported going an entire day without eating in the week leading up to the survey, which represented an increase of 1 percent since the last survey in February 2022 and which is due to external factors such as high energy prices and corresponding import costs and transportation costs. For instance, the survey revealed that “ninety-seven percent of people surveyed reported seeing higher prices for food items compared to 59 percent in April 2020”, and that “for the first time in over two years, people’s inability to meet food and essential needs were top concerns, followed by unemployment”.

Recognizing the need to set up systems to facilitate access to nutritious and affordable food for all, Heads of Government committed to reduce the regional food bill by 25 percent by 2025 through the implementation of the CARICOM Agri-Food Systems Strategy in Member States. The system will prioritize products that top the importation list. In this regard, it is worth mentioning the progress that Guyana has made over recent years. According to the Inter-American Development Bank (IDB), Guyana quickly moved from being a net importer of agricultural products and mineral fuels, to being a net exporter of the same commodities”. The report stated that the recent offshore oil production has resulted in increased fuel exports. In addition, the local food production plan, which is linked to the wider food security agenda within CARICOM, has reduced agricultural imports and increased exports, which is projected to increase by an annual average of 50 percent over 2022 to 2026. Concomitantly, the IDB warns that generally, Caribbean countries should prepare for the negative impacts of external economic shocks during 2023 –this includes high food, fuel, and international interest rates.

Goal 5 – Ending Violence Against Women

With respect to Goal 5 to achieve gender equality and empower all women and girls, Goal 5.1 calls for an end to all forms of discrimination against women and girls. For instance, a Representative of the UN Women MultiCountry Office (MCO) Caribbean noted in December 2022, that although 70 – 80 percent of graduates from The University of the West Indies are women, this does not guarantee employment for them. In addition, she highlighted the disparity in pay in the tourism industry where women workers in Barbados earned 68 percent of men’s wages. Young women and girls are therefore encouraged to empower themselves by getting involved in enterprises that would allow them to become

economically self-sufficient. Goal 5.2 focuses on the need to eliminate all forms of violence against women and girls in the public and private spheres, including trafficking and sexual and other types of exploitation. In this regard, during December 2022, the UN Spotlight Initiative collaborated with Civil Society Organizations (CSOs) to establish a formal umbrella network of women’s rights groups with the aim of supporting a coordinated approach to Equality and Women’s Empowerment and ending Violence Against Women and Girls (VAWG).

According to the Secretary General of CARICOM, “unsettling” data from prevalence surveys “violence against women and girls remains the most widespread and pervasive human rights violation affecting more than an estimated one (1) in three (3) women globally over the last decade. This problem was exacerbated with the COVID-19 pandemic, which exposed existing systematic inequalities supported by gender norms that threaten to reverse decades of progress in women’s equality. Goal 5.2 of the SDGs urges the elimination of violence against women in the public and private spheres. CARICOM is working with the EU and UN to ensure the provision of health, police, justice, and social services to mitigate the impact of gender-based violence.

Goal 5.5 requires Governments to ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic, and public life. This human rights approach to women’s leadership is enshrined in the Universal Declaration of Human Rights (UDHR), the UN Convention on the Elimination of All Forms of Discrimination against Women (CEDAW), and the Inter-American Convention on the Prevention, Punishment, and Eradication of Violence against Women (Convention of Belém do Pará). These instruments emphasize the need for women’s leadership role in decision-making and public life as

being fundamental. Such an approach will also ensure that the issue of gender is fully integrated in all public policies. According to recent data compiled by the InterParliamentary Union, women make up less than 33 percent of parliamentary representatives in CARICOM countries. Guyana is the only country in the region that has legislation that provides for gender quota in general elections, requiring all parties to have one third of its candidates as women as recommended in the Beijing Platform for Action (BPfA).

Goal 6 – Better Health Standards

Goal 6 points to the need for a human rights focus in the management of water and sanitation to ensure sustainable consumption and production. The results of a study in 2020 carried out by the Panamerican Health Organisation (PAHO) on drinking Water, Sanitation and Hygiene (WASH) shows that 65 percent of the population in the Caribbean and Latin America still do not have adequate access to water and sanitation services, while the percentage worldwide is 71%. The report affirmed the results of a previous 2016 report which highlighted inequalities in access to water and sewage services between urban and rural areas. The methodology applied to the study was based on the UN Human Rights to Safe Drinking Water and Sanitation (HRWS) analytical framework, which allowed the authors to show a correlation between unequal access and characteristics such as gender, age, income, and education. Given that Caribbean economies are heavily reliant on tourism, and health is key for a vibrant tourism industry as proven by the devastating effects of COVID-19, governments are working in partnership with the Caribbean Public Health Agency (CARPHA) to adopt higher health, safety and environmental sanitation standards in the sub-region.

Goal 9 – Resilient Infrastructure

In February 2022, the Inter-American Development Bank (IDB) urged Governments in the Caribbean to invest in more resilient forms of construction since these islands are extremely vulnerable to climate-related disasters. The IDB further stated in March, that Caribbean islands lose about 2% on average of their capital stock in infrastructure due to these disasters and noted that the recurrent expenditure for infrastructure diverts funding away from other matters such as social programmes. For instance, the Bank highlighted that hurricane Maria in 2017 caused Dominica almost US$1.0 billion in losses while in 2017 hurricane Dorian caused in the Bahamas approximately US$2.5 billion in losses.

Goal 9 calls for building resilient infrastructure, promotion of inclusive and sustainable industrialization and for fostering innovation. However, building resilient infrastructure will require an initial investment cost. In this regard, the IDB affirmed its commitment to finding solutions for a more resilient infrastructure in the region.

Goal 11 – Sustainable Communities

Goal 11 urges Governments to make cities and human settlements inclusive, safe, resilient, and sustainable. While a safe environment is important for tourismbased economies, Governments seem to be engaged in a constant struggle to control the illegal drugs, arms, the spiralling homicide, and imprisonment rates in Caribbean states. According to InsightCrime, much of the bloodshed in St. Lucia and Jamaica is attributable to gangs who are in possession of illegal firearms. Nevertheless, governments are making efforts to manage citizen security and implement strategies for preventing and controlling crime and violence. This approach is in keeping with Goal 16 which calls for access to justice for all and for building effective, accountable, and inclusive institutions at all levels.

Inequality, discrimination, and marginalization prevent many persons from accessing the justice system since they are unaware of their legal rights and are unable to afford legal representation. A Needs Assessment Report which was carried out by UNDP in July 2020, highlighted some of the challenges that Caribbean Governments face with the administration of justice. These were identified as: a lack of available data for the design of regional and national assessments and result oriented solutions; a backlog of court cases; the slow pace of investigations by police, delays with depositions, a lack of human and technological resources, and an over-use of pre-trial detention linked to a paucity of alternative pre-trial options. It should be noted however that at the national level, governments increased the use of technology for case management, carried out legislative reform, engaged in capacity building, strengthened justice institutions, and established specialized family, juvenile, drug, sexual offences courts.

Conclusion

Good governance should therefore focus on the process necessary for ensuring optimum outcomes for all. Governments in the region made a commitment to realizing the rights listed in the SDGs, which are also enshrined in the American Declaration on the Rights and Duties of Man, the Universal Declaration of Human Rights and other treaties –viz: civil, political, economic, social, cultural, and environmental rights. The process required is a human-rights based approach since it focuses on analyzing inequalities, discriminatory practices and unjust power relations, has a special focus on groups that have been historically discriminated against, places emphasis on participation, and relies on the accountability of the State and its institutions to guarantee the human rights of all.

lin K in G S u STaina B ili T y To T&T’S lo C al C on T en T P oli C y

By Saarah Khan

Local content programmes can provide a foundation for ESG and sustainability initiatives within the private sector as they already touch on the social, economic, and environmental aspects of conducting business within the country.

The oil and gas industry has been the main economic driver in Trinidad and Tobago for quite some time, the country having been involved in the petroleum sector for more than one hundred years and being the largest oil and natural gas producer in the Caribbean.

Hydrocarbons contribute more than 40% to overall public sector revenue and energy exports make up over 80% of total exports according to the Oxford Business Group 2020 Country Report. Given the sector’s importance to the economic stability of the country, the introduction of the Local Content and Local Participation Policy Framework for the Republic of Trinidad and Tobago Energy Sector in 2004 was a necessity. And aims to maximise the local value retention, participation of nationals, and foster capability development within the local economy.

Generally, local content policies offer significant benefits to the countries that implement them, ensuring the development of a skilled local workforce as well as the enhancement of manufacturing capabilities and building capacity in country. They also ensure that the

resources often being harvested are used to serve the local communities and develop nationally associated upstream, midstream, and downstream industries, rather than this value being leaked overseas.

While it is obvious how two of the tenets of sustainability – social and economic - are met, it is less so how the environmental aspects of sustainability are met within the local content policy framework. However, there are several benefits of a local content policy on managing environmental impact, especially given the targets set by the 2030 Sustainable Development Agenda and their importance within the energy sector context.

When considering the impact on carbon footprint, for example, through developing local industry, expanding local markets and training national communities, there is less of a need for importation of goods, services and foreign knowledge base. Trinidad and Tobago made the decision to support fabrication of offshore platforms locally, rather than sourcing from the USA or Mexico, as had been done in the past, and from 20032017 fabricated eight of these platforms in country.

According to industry estimates, bpTT, in a joint venture with Trinidad Offshore Fabricators Unlimited (TOFCO), facilitated local fabrication instead of sourcing from the USA and realised over $11 million USD in savings. Energy publication Offshore stated that “Similar cost savings can also be found in the production of chemicals within the industry, which account for up to 80% of chemical formulations.”

By sourcing these products locally, not only does the local economy benefit, by the development of industry, creation of jobs, support of local facilities, etc., but the carbon footprint of the final product is significantly decreased, resulting in greater Environmental, Social, and Governance (ESG) ratings for the company adhering to the policy.

In fact, the world-class facility at Point Lisas Industrial Estate has developed to serve Trinidad and Tobago’s petrochemical sector and, through its network impact, contributed to the establishment of the nearby e TecK’s Phoenix Park Industrial Estate. The flagship project has been projected by the government to meaningfully diversify T&T’s economy into manufacturing, logistics, distribution, ICT, biotechnology, and new material technologies in years to come. The port of Point Lisas, also allows exporters the ease of access to regional and international markets.

Recognising the importance of local content within the industry, the Local Content Charter was signed in 2017 by 23 locally operating companies, securing a voluntary industry-led commitment between signatories to work together, and with other stakeholders, such as The Energy Chamber of Trinidad and Tobago. The objective is to increase local content in the companies’ operations, by developing the local supply chain. An essential part of ensuring that the local content policy is effective in

meeting its objectives is the measurement of impact and value retention, as well as monitoring adherence to compliance from the international companies.

With the importance of oil to the Guyana economy, and their own legislative decision regarding local content, the spotlight has been placed on local content and its effectiveness in recent years. While we cannot overlook the successes of the local content policy, like the achievements in fabrication from TOFCO, and the petrochemical industry, the actions of which International Petroleum Industry Environmental Conservation Association (IPIECA) indicated “encouraged the development of nearby SMEs, increased local employment in a previously deprived area of Trinidad, and paved the way for wider export opportunities in oil and gas fabrication”. Trinidad Local Chamber expert Anthony Paul also stressed the importance of ensuring accountability and transparency within decision-making processes.

In recognition of these concerns, the Local Content Management System (LCMS) was launched by the Energy Chamber of Trinidad and Tobago on September 9th 2020, the first of its kind in the region, aiming to measure, monitor, and report local content participation, value retention in the local economy, and to ensure that the local energy sector remains competitive internationally. At the launch, Dwight Mahabir, outgoing Chairman of the Energy Chamber of Trinidad and Tobago, addressed the relationship between local content and sustainability indicating that the optimisation of both was important for the longevity of industry growth and the diversification of exports.

The relationship between local content and sustainability is also becoming more recognised globally as investors increasingly make decisions based on ESG ratings.

Local content programs can provide a foundation for ESG and sustainability initiatives within the private sector as they already touch on the social, economic, and environmental aspects of conducting business within the county. Therefore, aligning local content strategies with sustainability targets deliver on greater gains, economically through development of local industry and SMEs and international competitiveness, socially, through development of a skilled labour force, educational and training programs, and environmentally, through protected use of country resources, with clear ‘value-add’ and value retention within the country.

At its core, the objective behind T&T’s Local Content Policy is strongly entrenched in the sustainability of the energy resources sector, as evidenced in former Prime Minister Patrick Manning’s foreword of the policy framework, stating that “sustainability has to be at the heart of policymaking for the petroleum sector - a nonlabour-intensive industry, dependent on finite resources. The expansion of recoverable reserves, the efficient and careful management of production and the minimization of environmental impacts are principal considerations from the Government's perspective for the sustainable development of the country”. This policy has developed over the years to drive a world-renowned energy sector, with locally trained specialists being sought after globally, or serving on advisory panels in several developing markets.

Corporate Sustainability Review 2023

An opportunity to further exemplify the connection between local content and sustainability is in the NewGen Energy Project, which according to its Chairman Philip Julien, will upon completion, be the largest carbon-free “clean hydrogen-producing facility of its kind, using a combination of solar and energy efficiency-sourced power” to meet 20% of the hydrogen requirement for the Point Lisas ammonia plant.

Trinidad and Tobago has the building blocks and framework to ensure sustainable development through the local content policy. With the recent attention being redirected on local content and local participation, one can hope that the original intent of the framework will continue to deliver results 20 years on.

In recognition of the Commonwealth Secretariat's Year of Youth 2023, we invite stories on investments and initiatives in youth development, empowerment and issues confronting the youth population in the Caribbean.

u nde RSTandin G e SG and T i PS fo R aVoidin G GR een Wa S hin G

By Jarrel De Matas

Issues related to environmental, social, and governance (ESG) practices have rapidly grown in prominence since it was first introduced in 2005. As part of an overall drive toward corporate sustainability, ESG encapsulated three critical components of business operations. Almost two decades later, companies have increasingly woven ESG into their business strategy in response to investors prioritizing organizations and products that promote and support sustainability as well as comply with emerging regulations involving, but not limited to, climate change.

According to the PRI (Principles for Responsible Investment) – an investor initiative in partnership with UNEP (UN Environment Programme) Finance initiative and the UN Global Compact, when the term ESG entered the mainstream, there were 63 investment companies with US$6.5 trillion in assets under management (AUM). In 2021 the number of investment companies grew to 3,826 with a combined AUM of approximately US$125 trillion. The sharp rise in ESG investing reveals how integral sustainability is to the success of corporations.

Recently, the COVID-19 pandemic encouraged the latest trend of ESG investing. The various forms of market disruption and uncertainty that affected the

manufacturing, construction, and trade sectors amongst others, led investors to turn to ESG funds which carried the potential of being resilient against the pandemic’s impact at both the country and company level. As a result of this increasing turn toward ESG investment, organizations have experienced increasing pressure to be more transparent about how they promote, support, and manage environmental, social, and governance criteria. The pressure to disclose ESG-related initiatives is mostly driven by the understanding that investors, governments, regulators, and the wider society are demanding access to ESG information in order to invest.

The rise of sustainability reporting, however, is itself an issue due to the lack of standardization. Companies use different types of reports such as sales reports, sustainability reports, and annual reports to disclose their information. The inconsistency in reporting increases the likelihood of misleading and/or inadequate information. A 2022 survey by GaiaLens, a UK-based Financial Technology group providing data-driven and transparent ESG analytics, revealed that only 23 percent of asset owners were satisfied with the quality of the ESG information they received.

The dissatisfaction with ESG disclosure stems from the potential of reports to either exaggerate or misrepresent the ‘green’ initiative of companies; a practice commonly referred to as ‘greenwashing’. Alongside the increasing profitability of ESG investment is the increasing rise in greenwashing. Last year, The Economist found that on average, each of the world’s 20 biggest ESG funds holds investments in 17 fossil-fuel producers. Six of them have invested in the biggest oil firm in the United States of America. This practice of greenwashing negatively impacts future investments as well as, more importantly, the future of the environment. Greenwashing of ESG disclosure negates the founding principle of ESG which is to create and maintain corporate social responsibility when dealing with environmental matters. Beyond the recommendations for companies to avoid ESG greenwashing by either providing more details of how their ESG initiatives are protecting and/or restoring the natural environment, vaguely stating the necessity of ESG programmes without implementation, and setting a scope for what ESG criteria will be the focus on the corporate strategy, two specific measures that can be taken are –creating a standardized form of ESG disclosure, and integrating ESG criteria as part of a long-term strategy.

Creating a standard for disclosure

The various, non-standardized ways of ESG reporting create the potential for greenwashing. Therefore, there needs to be a standard model for ESG reporting along with a generally and globally accepted framework to measure the quality and consistency of ESG reporting criteria.

Before reaching a globally accepted framework, local standards for ESG reporting need to exist beginning with the internal priorities set by organizations. If the 2022 PwC Corporate Governance Survey is anything to go by, ESG issues, despite being recognized as important, still rank among the lowest of priorities by board members. According to the survey, 60% of board directors indicated that their board does not have a defined process for ESG oversight. Even more striking is that 45% revealed that their company does not provide ESG reporting.

To arrive at a national standard for ESG reporting, organizations can focus on a common denominator in corporate social responsibility to avoid becoming stretched thin or superficially resorting to box-ticking a random set of ESG criteria. One common denominator applicable to all organizations regardless of size, location, purpose, or structure is ISO 37000, the international benchmark for good governance. ISO 37000 provides guidance to assist all stakeholders involved in an organization with clarifying purpose and values, defining roles and responsibilities, and outlining accountability and reporting systems. At present, various organizations adhere to ISO standards specific to their operations.

The 2021 ESG report by Digicel Group, the international mobile phone network and home entertainment provider operating in the Caribbean and Central America,

states that 22 of its business continuity plans were reviewed using ISO 22301: the international standard for implementing and maintaining effective business continuity plans, systems, and processes. Additionally, the company received ISO 27001 accreditation in 2021, the gold standard for information security management systems.

Methanex, the world’s largest producer and supplier of methanol to international markets including Trinidad and Tobago, has committed to international standards in quality management (ISO 9001) and environmental management (ISO 14001). The guidance set out in each ISO standard ensures that specific forms of ESG-related greenwashing do not occur.

For a generalized benchmark of ESG disclosure, companies must look to ISO 37000 which, given its emphasis on building an environment of trust, accountability, and transparency, lays the foundation for the long-term success of organizations and ensures their contribution to the protection of social and environmental systems.

Integrating ESG for the long-haul

To avoid greenwashing, an organization must integrate its ESG initiatives into all of its operations, not a select few, and as part of a long-term strategy, not a temporary quick fix. The common practice in medium and large organizations to have a person or team responsible for ESG sustainability creates the potential for a disconnect between the company’s core operations and its corporate social responsibility. This occurs due to the person or team either being isolated from the rest of the organization or having a limited budget. As a result, the ESG initiatives might lack the ability to provide benefits to the organization.

Instead of a designated person or team placed in charge of ensuring the organization adheres to ESG values, there should be involvement by senior executives and the CEO in the creation of strategic ESG decisions as well as by individuals further down in the organizational hierarchy who have a clear direction of the ESG culture embedded within the organization. The combination of a top-down approach whereby senior management transmits the ESG values and initiatives and a bottomup understanding of the organization’s ESG, goals will ensure that issues of sustainability will be shared at different seniority and organizational levels. The full embedding of ESG values within the entire governance structure of the organization can reduce the potential for greenwashing since the whole company, not just an individual or select group, will be involved in the ESG strategy.

Additionally, to maintain value creation and simultaneously avoid greenwashing, organizations must develop ESG initiatives that are part of a longterm strategy that is aligned with the company’s vision, mission, and corporate responsibility. For example, Angostura Limited, the only rum distillery in Trinidad and Tobago, has incorporated its commitment to corporate social responsibility into the company’s vision to ‘proudly grow for the betterment of the environment and the people of Trinidad and Tobago’. This vision has materialized in the company’s 2022 cocoa bitters ‘Sustainable Future’ programme which is designed to ensure a sustainable future for small-scale organic cocoa farmers in Trinidad and Tobago. The programme focuses on farmer education to support the survival of the Trinitario cocoa variety as well as promotes the quality of Trinitario cocoa internationally.

Conclusion

ESG investment is surging. As matters involving the environment, social responsibility, and good governance increasingly become part of the business strategy for organisations of any size or type with their own specific purpose and structure, there will be increasing scrutiny of how well these organisations not only adhere to but also promote ESG principles. Because of the investment opportunities associated with contributing to a sustainable future, the pressure on organisations to report on ESG programmes could inadvertently lead to companies exaggerating or misrepresenting their sustainable footprint. This practice of greenwashing ultimately causes more harm to corporate social responsibility.

To avoid instances of greenwashing, organisations can first agree upon and then commit to a standard form of ESG disclosure. ISO 37000, the international benchmark for good governance principles is a good place to start because whatever the industry, governance is integral to corporate sustainability. Another way in which organisations can avoid greenwashing is to integrate ESG into their long-term strategy. Although the term ESG might now be considered a buzzword, the intention of creating a sustainable future will only increase in significance as the climate crisis worsens. Therefore, a company that makes ESG initiatives part of its mission, vision, and purpose will ensure that ESG is not just another box to tick.

While a standardized, long-term ESG strategy may seem daunting, it is imperative to the competitiveness, reputation, and longevity of a company that concerted efforts to avoid greenwashing are exercised. Added to this is the positive impact that a strong CSR approach can have on protecting the natural environment. Everyone and everything stand to benefit when organisations steer clear of greenwashing.

Wi T he R ed

By Zoe Bernadette

When I was small, My parents would recall: “Back in my day we used to climb trees, Now young people only look at screens.

Mummy and daddy dearest, The playground of your youth, Alive, fresh, and green, Sail leafy boats down rain guttered streams, Pick sweet sticky mangoes off towering trees, Has become something of which I can only dream.

We climb trees of cold steel, Busted knees on concrete and tempered nerves of steel Trees today are just an aesthetic appeal, Paired with coffee and quotes on an instagram reel.

How long will they continue to steal, The very breath from our lungs?

This song has been sung

By voices old and young

In all kinds of tongues. It burns me, this forced complacency And they tell me: “You have a problem with anxiety.”

But what if it’s because there’s less air for us to breathe?

What if it’s because we keep on destroying trees?

What if it’s because I’ve had to throw away my dreams?

Because it’s not paranoia if it’s real.

What will it take for us to wake up from this ordeal?!

My heart yearns to climb trees, To run barefoot— wild and free.

But not enough of us realise that there is no planet B, And we’re running out of time to show accountability.

Note: Zoe is a young published writer who lives in the United Kingdom. She was born in Trinidad & Tobago and maintains strong links to the Caribbean.

Photo credit: Joann Carrington

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