ESG and corporate responsibility
At TMF Group we are committed to acting responsibly in all things we do. We continually review and enhance our environmental, social and governance (ESG) credentials – for our own business and for the services we provide to clients.
As key compliance partners to our clients, an important part of our work is assisting them with following the rules. They trust us to help them meet their ESG obligations and aspirations.
We care about ESG requirements and goals because it is at the core of what we do and represent. We do everything within our power to act correctly, every step of the way, with robust governance procedures in place to enable us to conform and continue improving.
As a signatory of the UN Global Compact, and with a particularly high rating for ethics as part of our EcoVadis silver medal award (top 2%), we are working hard to remain a trusted partner and model in this fast-moving area of our industry.
Find out how we support clients with ESG administration services.
Sustainability and the environment
TMF Group works to minimise its carbon footprint and be environmentally friendly at all of its locations around the world, including its 125 offices in 86 jurisdictions.
As a signatory of the UN Global Compact, we have pledged to abide by its environmental principles, which state that businesses should:
- support a precautionary approach to environmental challenges
- undertake initiatives to promote greater environmental responsibility
- encourage the development and diffusion of environmentally friendly technologies.
EcoVadis awarded us a Silver Medal for the third year running in 2023, with our scores improving across the categories each year. To achieve the award TMF Group had to satisfy stringent environmental criteria, in addition to those around the social and governance pillars of ESG.
Social responsibility and actions
Diversity, equity and inclusion
With offices in 86 jurisdictions, we are a naturally diverse company, with over 115 nationalities, aged from 17 to 70, and 67% women globally. This helps us to reflect the diversity we see among our clients – and in the wider world – and to bring a range of skillsets, experiences and insights to our daily work.
We are committed to an inclusive work environment, so that everyone can feel welcome at TMF Group. As an inclusive company, we reject all forms of discrimination and we strive to empower all our employees to reach their full potential – to put themselves on the map – no matter their age, ethnicity, religion or belief, family or marital status, neurodiversity and/or physical disability, gender or sexual orientation.
We actively seek out people with the talent and potential to flourish at TMF Group, whatever their background, and offer job opportunities to the broadest spectrum of people. Once on board we nurture and promote talented individuals, making sure that senior positions are open to all.
Beyond Boundaries - our global CSR programme
Our corporate social responsibility (CSR) programme Beyond Boundaries is run in conjunction with Bridge for Billions. Through it, we use our experience and skills to help social entrepreneurs develop their organisations and deliver benefits to society through their work.
The programme pairs TMF Group employees with underrepresented entrepreneurs in North America, Latin America, Europe and Asia Pacific to provide high-quality entrepreneurship training and mentorship.
Our employees work with entrepreneurs during the programme, developing their skills as mentors while sharing experience and knowledge with the entrepreneurs.
This CSR programme is a meaningful way for us to bring our purpose and values to life.
Other CSR and charitable activities
Tree per client
TMF Group is working on a global CSR project that is raising funds in our locations around the world. For each new client contract we secure, we are donating money to plant trees that will replenish the rainforests in Indonesia and Brazil, and support better health for local people.
Partnering with Health in Harmony on their unique programme, the funds we generate through the initiative results in the planting of thousands of trees annually.
TMF Island Walk
Each year TMF Group sponsors the Island Walk around Jersey in the Channel Islands. In 2023 the walk raised more than £112,000 for an array of local charities, up from £100,000 in 2022. Hundreds of walkers, and some runners, travel all or part of the 48-mile route around the island.
Run to Kick
In 2023, six of our EMEA countries took part in a charity running challenge to raise money for the children’s cancer charity Fight Kids Cancer. Participants from the TMF Group offices in France, Belgium, the Netherlands, Luxembourg, Ireland and the UK raised more than €20,000.
Ashoka
TMF Group worked with our previous global CSR programme partner from 2021 to 2023, supporting social entrepreneurs around the world and working on initiatives with colleagues.
- Launch of a global CSR committee with 23 regional ambassadors who were trained and tasked with exploring local CSR opportunities in their jurisdictions.
- A fundraising initiative between TMF Netherlands and Health in Harmony to plant a tree for each new client onboarded (see below for more information).
- A global yoga programme, combining personal wellbeing with fundraising. TMF Group employees from 53 countries and 71 different offices took part.
- A collaboration between TMF Hong Kong and Fair Employment to promote the challenges faced by domestic workers in Hong Kong alongside the rollout of ethical solutions.
- A volunteer programme where employees from TMF China assist Stepping Stones in providing disenfranchised young people with life skills, along with psychological and social support.
- Mentors from TMF Group worked with Hola America to support social innovation projects with a focus on migration in Chile and Argentina.
CleanHub
As a business, we are committed to the protection of the environments in which we work and live. With this in mind, TMF Group partnered with CleanHub in 2023 to support the organisation’s mission of preventing 50% of new ocean plastic by 2030.
TMF Group’s donation supports the cause by:
- enabling their local teams to collect waste from the ocean
- helping them to develop smarter solutions for dealing with recovered waste
- educating people and companies to reduce the amount of plastics and waste we generate.
Our governance procedures
An ethical approach is important to us and our clients. Our efforts in this space are reflected in our EcoVadis rating. Our Silver Medal award involved being assessed against multiple criteria. We have featured in the top 2% in our sector (financial and legal) for ethics since we were first rated in 2021.
We also want to work with clients who make a positive contribution to the economy. We are also careful to ensure they don’t pose a threat to our reputation or integrity. That means we have a strong anti-money laundering/counter financing of terrorism (AML/CFT) framework and a ‘three lines of defence’ structure. We also take into account the nature of the business each of our clients undertakes.
Ensuring our clients are compliant starts with our own organisation maintaining compliance across all areas of our global operation. In addition to the AML/CFT framework, we have a compliance monitoring plan, a risk framework that continually evaluates our services, and a robust corporate governance framework.
United Nations Global Compact
In September 2023, TMF Group joined more than 23,000 participants worldwide as a signatory of the UN Global Compact. This saw our CEO pledge that the company would abide by the ten principles of the world’s largest corporate sustainability initiative.
TMF Group is proud to be a participant in the UN initiative. By aligning ourselves with this global movement, we reaffirm our dedication to the principles, which cover human rights, labour rights, the environment and anti-corruption.
EcoVadis Silver Medal
TMF Group has retained its EcoVadis Silver Medal rating for 2023.
Being awarded the medal for a third year running is a reflection of our positive ESG journey. The award is a recognised and trusted global assessment, with more than 90,000 companies taking part across multiple industries. A silver rating confirms our status as a responsible company – to clients, colleagues and our industry. It affirms our commitment to social and environmentally responsible business practices.
We make a complex world simple
TMF Group is a leading provider of critical administrative services, helping clients invest and operate safely around the world. with over 11,000 colleagues in more than 125 offices across 87 jurisdictions provide local expertise. Our locations cover 92% of world GDP and 95% of FDI inflow.
We are a key part of our clients’ governance, providing the accounting, tax, payroll, fund administration and legal entity management services essential to their success. We make sure rules are followed, reputations protected and operational compliance maintained. We work with the majority of the Fortune Global 500, FTSE 100 and top 300 private equity firms. Learn more about us Learn more about usExpand your business efficiently across borders
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