Our sustainability strategy is key to delivering our purpose of helping to put people on a path to a better everyday life. The improvements we make, the actions we take around sustainability, the governance we put in place to make sure we are behaving fairly and lending responsibly - everything comes back to our Purpose.
Our Purpose, first and foremost, is about providing our customers, many of whom are not well served by mainstream lenders, with credit products that meet their needs. It keeps us delivering fair outcomes to customers throughout their journeys with us. We do this by:
- Providing customers with appropriate amounts of credit
- Maintaining close contact with them throughout the term of their loan
- Understanding and supporting them at all times, including if they experience difficulties
Our Purpose is also about building sustainable relationships with all our other key stakeholders, whether they are our colleagues, suppliers or people in the many communities we serve. In addition to lending sustainably in a responsible manner, we also focus on:
- Creating an inclusive, diverse and engaging workplace for our colleagues
- Delivering on our Purpose through the activities of our Social Impact Programme
- Responding to climate change
- Treating our suppliers fairly
- Engaging with the investment community on our approach to corporate responsibility (CR)
- Being a responsible taxpayer
Our commitment to the UN’s Sustainable Development Goals
The United Nations’ Sustainable Development Goals (SDGs) are a global call to action to end poverty, protect the planet and ensure all people can live in peace and prosperity. The 17 goals that make up the SDGs address the world’s most important economic, social, environmental and governance challenges. Successful delivery of the SDGs require all players from all sectors to champion this agenda. Private sector action will be key to the success of each goal – through responsible business operations, new business models, investment, innovation and technology, and collaboration. In aligning our sustainability strategy to the SDGs, we have chosen five of the Goals to focus on where we think we can have a genuine impact. These are our priority goals:
In 2020, we established long-term objectives that are aligned with each of our five priority SDGs to show how PFG is responding to global issues such as climate change, inequality, injustice and poverty.
End poverty in all its forms, everywhere
Ensure inclusive and equitable quality education and promote lifelong opportunities for all
Achieve gender equality and empower all women and girls
Decent Work and Economic Growth
Promote sustained, inclusive and sustainable economic growth with full, productive employment and decent work for all
Reduce inequality within and among countries
You can read more about the activities and actions we have delivered that contribute to each Goal here.
Engaging with our stakeholders
We are committed to acting responsibly and sustainably in all the relationships we have with our key stakeholders. These are our customers, colleagues, communities, suppliers, investors (both debt and equity), regulators and government, as well as the environment. We engage with our key stakeholders on an ongoing basis to ensure that their views and concerns are factored into our decision-making processes.
We also engage with our stakeholders to make sure we manage and report on the CR issues that matter most to them. We do this by undertaking materiality assessments at least every two years to identify and prioritise the CR issues that are relevant to us. This informs our Purpose and sustainability strategy. Our materiality assessments are carried out by the independent sustainability management consultancy Corporate Citizenship.
Issues like those below continue to be priorities for PFG:
- Responsible lending practices
- Customer satisfaction and customer care
- Financial wellbeing
- Customer vulnerability
This is why we place so much emphasis on making sure we provide our customers with responsible credit products that meet their needs. We deliver fair customer outcomes throughout their journeys with us, while supporting their financial wellbeing and inclusion. The exercise also underlines how important issues such as climate change and
, inclusion and diversity have become to a business like ours.