WPP Scangroup PLC has joined the club of Kenyan listed companies to release an environmental, social and governance (“ESG”) report as per the Nairobi Securities Exchange (NSE) reporting guidelines.
In November 2021, the NSE in partnership with the Global Reporting Initiative (GRI), released guidelines for listed companies to follow when disclosing how they are managing ESG issues in the organisation. Beyond financial numbers, an ESG report provides investors, owners of capital and the public with a more comprehensive view of the company’s activities and performance.
“Maintaining the highest standards of governance and ethics is fundamental to our sustainability strategy. We are committed to transparency, accountability, and integrity in all aspects of our business operations. Our board of directors oversees our sustainability efforts and ensures that they align with our long-term goals and values,” says Richard Omwela, WPP Scangroup PLC Board Chairman.
In the last two years, WPP Scangroup has increased gender and racial diversity in the Company by growing the overall proportion of women from 44% in 2020 to 52% as at end of 2022.
“As of 31st December 2022, millennials were the largest generation in our workforce making up almost half of our workforce followed by Gen Zs. We formed the diversity, equity and inclusion committee that developed a framework of operations for the Company. The committee is comprised of different cadres of employees from various nationalities, races, and ages. In 2023, the committee is exploring of other areas of diversity and inclusion,” says Patricia Ithau, WPP Scangroup PLC CEO.
Code of Business Conduct
WPP Scangroup maintains strong compliance in areas such as ethics, human rights, privacy and data security. Every year, all staff, (including freelancers working for more than four weeks) go through a mandatory Code of Business Conduct online ethics training. Additionally, the company recently launched a Green Claims guide that provides principles and practical tips for account managers, strategists, creatives, and media planners to use from brief to behaviour change.
To ensure compliance, the WPP Scangroup board of directors meets at least four times a year to ensure compliance with governance procedures set out in the board charter.
“As a multinational, WPP Scangroup Plc faces complex regulatory and tax requirements. We maintain a regulatory register and track our tax compliance across markets. During the year, in recognition of the importance of tax compliance across multiple jurisdictions, we enhanced our tax function by increasing resourcing and hiring a full-time tax manager,” says Ithau.
WPP Scangroup’s ESG report was prepared with the following frameworks including the Nairobi Securities Exchange ESG Disclosures Guidance Manual, The International Integrated Reporting Council (IIRC) Framework, Global Reporting Initiative’s (GRI) Standards, Advertising Marketing Sustainability Accounting Standards, WPP Sustainability Reporting Criteria 2022 and FTSE4Good Index Series.