Sustainability – long-term goals for a better society
Sustainability is a high priority at Intrum – from social sustainability issues to environmental concerns, we are working hard to ensure the agenda runs through the whole business.
Intrum’s sustainability strategy runs from 2020-2023 and is matched to the United Nations (UN) Sustainable Development Goals around decent work and economic growth; climate action; and gender equality. As the UN Day takes place, it is a good time to take stock and review progress towards these aims.
In 2016, Intrum became a signatory to the UN Global Compact, a global, voluntary commitment by companies to adopt sustainable business practices. These areas are all incorporated under the company’s sustainability agenda.
Intrum’s purpose is to lead the way to a sound economy and we do that by operating ethical collections on behalf of our clients, helping people struggling with problem debt so they can find their way back to sound personal finances.Vanessa Söderberg, Global Sustainability Director at Intrum
Social sustainability is key
There are environmental, social and governance pillars within sustainability. At Intrum, the social pillar is most relevant and the ethical treatment of customers is of the highest priority.
“Our mission is to help companies prosper by caring for their customers,” explains Vanessa, “we see both of those groups, clients and consumers, as equally important.”
It’s important that our clients trust us to with their customers ethically and sensitively at a time when they may be vulnerable. We work hard to treat people empathically, with respect for each situation when it comes to resolving their financial difficulties.Vanessa Söderberg
Climate action is an important part of sustainability, and Intrum is committed to continuously decrease the Green House Gas emissions derived from the business.
“We have a range of sustainability targets that cover the key areas for our improvement,” says Vanessa. “As the largest actor in our business sector, we feel it is important to set the example of working to more sustainable values and business practices. Its what our clients, their customers, our employees, our shareholders and society expect, and it’s also the right thing to do.”
Sustainability targets – positive steps
Progress against the sustainability strategy has already been strong and reporting from 2021 shows how the business is already performing against five sustainability targets:
1) Ethical collection by treating customers fairly
- Target: maintain the high level of our culture index above 80 out of 100
- UN goal 8.10: Universal access to banking, insurance and financial services
- Progress: Our culture index increased from 82 in 2020 to 85 in 2021
2) Sound economy for clients
- Target: increase the average client satisfaction score to more than 75 out of 100
- UN goal: 8.3 Promote policies to support job creation and growing enterprises
- Progress: The client satisfaction score increased from 75 in 2020 to 77 in 2021, its highest level so far.
3) Reduced environmental impact
- Target: By 2030, achieve climate neutrality and reduce our total emissions by at least 20% compared to 2019.
- UN goal 13.2: integrate climate change measures into policies, strategies and planning
- Progress: In 2021, our total reported emissions decreased from 6,866 tonnes to 5,510 tonnes, a fall of around 20% due to decreased number of offices and less business travel.
4) Attract and retain talent; ensure employee well-being
- Target: Increase employee engagement index above 80 out of 100.
- UN goal 8.8: protect labour rights and promote safe working environments
- Progress: The employee engagement index increased from 79 in 2020 to 81 out of 100 in 2021.
5) Diversity and inclusion
- Target: Reach a balanced gender representation (60/40) in all leadership positions and across the organisation
- UN goal 5.5: Ensure full participation in leadership and decision making
- Board of directors* – women 38%, men 62%
- Group management team* – women 31%, men 69%
- Organisation – women 61%, men 39%
* As per October 2022
We are proud of the progress against these targets and are continuing to find ways to improve further. We are led in our day-to-day business by our company values - Empathy, Ethics, Dedication and Solutions - as they guide us in everything we do. There’s a strong connection between our values and sustainability targets and we will continue to innovate and measure our successVanessa