IFC’s appraisal considered the environmental and social management planning process and documentation for the Project and gaps, if any, between these and IFC’s requirements. Where necessary, corrective measures, intended to close these gaps within a reasonable period of time, are summarized in the paragraphs that follow and (if applicable) in an agreed Environmental and Social Action Plan (ESAP). Through implementation of these measures, the Project is expected to be designed and operated in accordance with Performance Standards objectives.
PS 1: Assessment and Management of Environmental and Social Risks and Impacts
Environmental and Social Risk Assessment and Management System: The company has an Environmental, Social and Governance (ESG) policy that sets out Zepz’s approach to managing its E&S commitments. Additionally, Zepz has an Enterprise Risk Management policy which serves as the primary framework that Zepz employs to identify, manage, and monitor risks, ensuring compliance with applicable national standards including E&S regulatory permits and requirements. The company also has a global health & safety (GHS) Policy, which outlines the minimum requirements for managing occupational health and safety risks across all Zepz operations. These policies are supported by specific country level procedures as needed.
Organizational Capacity and Competency: The Zepz Group Board holds ultimate accountability for E&S within the Group. Specific responsibilities for E&S risk management are delegated to the Risk Management Committee, which is responsible for operationalizing the policies and procedures. In terms of day-to-day management, office managers and global workplace, facilities and travel specialists are responsible for implementation of these policies including the GHS Policy. The HR function is managed by a chief people officer and supported by office managers in the country offices.
Emergency Preparedness and Response: Emergency preparedness and response planning is mainly done by the building owners or operators from whom Zepz is renting its offices. The company has limited oversight on the emergency preparedness and response plan (EPRP) of these buildings. Going forward, Zepz will include in its GHS, the need for each office to ensure EPRP is developed and implemented covering possible emergency scenarios including fire and security issues in the workplace and relevant responses in line with IFC PSs requirements (ESAP #1).
Monitoring and Review: Internal monitoring and performance review are part of the scope of work of the risk committees. Quarterly reporting is done by risk champions to the risk committees, while the reporting to the Group’s Board is done annually. Zepz has identified key E&S indicators, which are monitored on bi-annual basis.
PS 2: Labor and Working Conditions
At the time of the appraisal, the company had about 1000 staff members, with employees located in the Philippines, the UK, and the United States of America (USA). Other major employing entities are located in South Africa, Poland, Kenya, Canada, Germany, France, and Belgium.
Human Resources Policies, Procedures and Terms of Employment: The company has several HR policies and procedures in place at global level which are then structured in each country to meet country specific labor laws. The policies cover working terms and conditions from recruitment to termination including onboarding, probation period, goal setting, performance review, internal communications (non-confidential), disciplinary process, anti-harassment and bullying procedures. Communication on employees’ rights per local law is provided during induction and documentation outlined within the employee’s contracts. Each employee is provided with written contracts and employees are hired mainly on fixed term or permanent basis.
Although the company allows freedom of association, none of the company's workers are unionized. The company will update its human resource (HR) policy to include commitments on freedom of association, child labor and forced labor and communicate these commitments to its employees (ESAP #2). Zepz will also provide resources as needed to facilitate implementation, monitoring and evaluation of these policy commitments.
Grievance Mechanism: The company has a written grievance procedure with a clear articulation of how complaints can be filed and received, timelines for responses, routes for escalation, and commitments to non-retribution. The grievance procedure is communicated to employees and supported by a grievance recording mechanism. As for anonymous grievances, they are collected via the whistleblowing mechanism which caters for both internal and external stakeholders, including current and former employees. Employees can submit grievances via a third-party website – Safecall Portal. Safecall provides dedicated and independent whistleblowing services to corporations. In relation to GBV risk in the workplace, the anti-harassment & bullying policy provides a dedicated reporting mechanism, including provision to have support from a third party as needed.
Retrenchment: The company has documented retrenchment policies for the countries where it operates, aligning with the employment laws of each country. The retrenchment process would typically include consideration of alternatives, employee consultation, compensation and career management training and support as required by the country legislation. The company has undergone retrenchment cycles over the past few years to integrate operations between Sendwave and WorldRemit and become more efficient through technology advancements. Areas of improvements are constantly identified in previous retrenchment cycles on consultation with the employees. Zepz will review its retrenchment policies across its operations against IFC PS2 requirements and align the respective policies where gaps are identified (ESAP#3).
Occupational Health and Safety (OHS): Zepz sets out its OHS requirement at corporate level via its GHS policy, and specific procedures are developed for country level implementation. The company provides OHS training and monitors key OSH indicators such as accidents, absenteeism, acute and chronic health conditions reported by employees. No major accident or incident has been reported in the past 5 years.
