Environmental Policy

Our commitment to environmental protection

As the largest local Ugandan Insurance Company, we focus on managing the environmental impacts associated with our operations. Given the nonmanufacturing nature of our business, this primarily means reducing and recycling the waste that we produce, conducting responsible investment management, employing innovative technologies to reduce our resource consumption and emissions from business travel, and adopting sustainable practices in our approach to underwriting and other insurance practices.
This policy prescribes our approach and commitment to managing our environmental footprint across our business. We also encourage our suppliers, business partners, and where applicable, our customers, to respect elements and practices outlined in this policy, with a goal of furthering their own efforts at environmental stewardship.
This policy has been written with reference to the United Nations Environment Programme Finance Initiative’s Principles for Sustainable Insurance and applies across our operations. Due to the limited availability of certain resources and processes, consistently applying this policy across our operations may prove challenging, but we intend for this policy to evolve alongside the development of our market. This policy represents a key part of our continued efforts to drive the creation of efficient processes across our operations and to manage our environmental impacts.

 

Reducing the direct impact from our operations.

To reduce any adverse environmental impact arising from our day to day operations, we rely on behavioral change as well as the use of efficient technology, processes, and systems to drive and monitor reduction initiatives. Central to these efforts are the following objectives:

  • Comply with relevant environmental legislation and regulation in our market.
  • Engage and consult with our stakeholders to improve our environmental performance and to mitigate adverse environmental impact from our operations.
  • Work toward implementing an environmental management system to standardize our approaches to both managing and reducing the environmental impact arising from our operations.
  • Promote and stimulate behavioral change amongst employees through internal communication, training, and other means. Cultivate a greater internal awareness of environmental issues to drive the reduction of energy consumption.
  • Handle environmental complaints and respond to environmental inquiries in a timely manner, taking action to resolve problems and concerns as soon as possible. Adopt preventive measures to avoid the recurrence of similar incidents.

Our primary direct impacts lie in the waste we produce, the energy we consume and our greenhouse gas footprint. We address each of these areas and outline our approach to managing them with the objectives outlined below:

A. Waste

  • Streamline procedures and processes to increase efficiency and reduce the consumption of day-to-day operational inputs such as paper and electronic equipment. Examine the feasibility of paperless systems and their incorporation within operational processes.
  • Minimize our waste footprint by recycling and reusing materials where possible.
  • Extend the life expectancy of existing office equipment to minimize their premature disposal and reduce waste.
  • Increase the number of products sourced from recycled or sustainable forest sources.

B. Energy Reduction

  • Streamline procedures and processes to increase efficiency and reduce the consumption of day-to-day operational inputs such as paper and electronic equipment. Examine the feasibility of paperless systems and their incorporation within operational processes.
  • Minimize our waste footprint by recycling and reusing materials where possible.
  • Extend the life expectancy of existing office equipment to minimize their premature disposal and reduce waste.
  • Increase the number of products sourced from recycled or sustainable forest sources.

C. Emissions

  • Reduce, where feasible, the production of air pollutants, greenhouse gases and other ozone-depleting emissions within our operations.
  • Since our emissions are produced as a result of our energy consumption and business travel, our attempts to reduce our energy consumption and travel, as mentioned above, will have a direct correlation to our carbon footprint.

Monitoring and review

To ensure the effective implementation of this policy, the Managing Director, with the support of the Management Team, will coordinate these efforts and track the progress of various environmental initiatives. The Management Team will be responsible for conducting any training as required.
We endeavor to report on our environmental performance in a manner that is transparent and accountable. This policy is available to our employees via internal channels.
This Environmental Policy shall be reviewed annually or as required to ensure its relevance and effectiveness, including with respect to any charters or policies that Goldstar may choose to sign or adhere to.