IIFL Finance Limited, India’s largest listed financial services company, has made serious strides in responsible and sustainable business practices in the fiscal year 2023-24. The company’s BRSR outlines its efforts on the multiple axes: governance, financial inclusion, employee well-being, and environmental stewardship. With a commitment to transparency, ethical conduct, and innovation, IIFL Finance remains keen on delivering value to all stakeholders as long as sustainable growth occurs.
Starting FY 2023-24, BRSR underscores the persistent commitment of IIFL Finance to proper corporate governance and ethics. Governance frameworks have ensured that the company enhances its reputation, expands stakeholder acceptance, and attracts quality talent. IIFL views governance not just as an obligation but as an opportunity to strengthen its relationships with stakeholders for long-term business success.
On the social side, the report exposes what the company is doing to enhance financial inclusion. The access that IIFL has made possible for small businesses, women, and entrepreneurs has placed it at the forefront of pushing through expansions of financial access. It contributed not only to the growth of the company but also opened a majorly marginalized sector to more opportunities.
Employee well-being is another core area IIFL focuses on. IIFL provides a healthy environment rich in employee benefits of health insurance, accident insurance, and benefits available for dads and moms alike. IIFL structures the training of its employees details performance appraisals and encourages diversity initiatives that ensure to give worth to its employees along with equipping them with skills for a lifelong career.
The very core of IIFL Finance’s business model lies in environmental sustainability. Many mechanisms aimed at reducing its carbon footprint have been put into place, which include reduction in carbon emissions, effective waste management, and sustainable sourcing practices. IIFL has mostly digitalized its operations—noticed reduction in paper usage and, therefore, conservation of the environment.
Conclusion: The BRSR of IIFL Finance for FY 2023-24 shows that the prime focus has been on responsible business practices that are expected from its stakeholders. While adopting a culture of transparency, inclusiveness, and sustainability, the company, being a leader in the responsible finance arena, continues to be innovative and expand.
Source: BRSR
Credit: IIFL Finance Limited