Our journey towards sustainability

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Our communities 53 Our commitment to a financially inclusive society An inclusive society is one which benefits all By helping to support a society that refrains from restricting certain groups of people from being involved in the workplace or from living on a fair and equitable level as the rest of society, EY can help communities maximize their potential. The services that FS institutions provide can often be hard to access for marginalized or lower socioeconomic parts of society. This means that the poorest people are missing out on services that can help them escape poverty, start businesses and support families. Bringing financial services to local communities is a key driver of economic growth and development, and as such EY supports the financial inclusion of all members of society. We do this through our financial literacy programs, client services and other work with microfinance institutions and investors. Financial literacy programs “Governments around the world are recognizing the benefits to individuals and national economies of having a financially literate population that has access to appropriate financial products with relevant consumer protection in place,” according to the OECD Report on Financial Literacy and Inclusion. Insufficient financial literacy can result in poor management by individuals and organizations of their financial resources and inappropriate use of products and services. For financial institutions, enhancing financial literacy represents an opportunity to improve the sophistication of their customer base, its ability to use products and services and to address issues of over-indebtedness, social exclusion and other financial risks. Financial literacy is a key component of providing access to finance and the wider economy for all society groups. Using our people’s time and skills in finance and accounting, we can give something back to the communities we work in by teaching children and young people, as well as other groups about basic financial topics and skills. We have seen the rolling back of the role of the state in a lot of countries, but particularly in the UK, in relation to financial safety and savings. By doing that, the responsibility to be financially ready for the future lies with the individual. However, the state has fallen short of preparing individuals for this task, and many people do not understand the products on offer for pensions, life insurance and savings. There’s a huge need to educate people at all ages and from all backgrounds around basic financial literacy, including budgeting and saving for the future to ensure that the right products reach the right people. Andy Baldwin Regional Managing Partner, EMEIA FS Appendices Our communities Our people Our clients Introduction
Our communities 54 Our commitment to a financially inclusive society Inclusive finance Inclusive finance is the overarching concept that addresses the issue of serving traditionally underserved populations by giving them access to micro-financial services, such as micro credit, micro insurance and micro saving funds. It offers people who have limited or no access to finance a means to participate in the economy and society, helping them prosper and build a sustainable living. EY has been working with microfinance institutions (MFI) for a number of years in a variety of projects and ways, such as client service, research, thought leadership and pro bono work. The impact we have on communities by working with microfinance institutions and investors is huge, which is why it is such an important part of our commitment to building a better working world. Our reports The promise of microfinance and women’s empowerment: What does the evidence say? and Empowering women: uncovering financial inclusion barriers (2015) further assess the impact financial inclusion has and how microfinance services provide a platform for an inclusive society. Furthermore, in a joint EY-NpM Platform for Inclusive Finance report (2015), Client Protection in Microfinance: The current state of law and regulation, we assessed the current state of implementation and enforcement of law and regulation regarding protection in 12 emerging markets. In addition to the research publication, we aim at stimulating live debate around key topics in the sector. For instance, in conjunction with the Financial Inclusion Forum UK and Women Advancing Microfinance UK and International, we hosted an event titled Microfinance and Women Empowerment in June 2015. The panel, including CEOs of renowned organizations such as Women’s World Banking and the Cherie Blair Foundation for Women, alongside EY, shared their experiences on how women’s empowerment can be enhanced through financial inclusion. As women are a major component of the unbanked population, female empowerment has often been seen as one of the key promises of the microfinance industry. However, cultural, regulatory and operational challenges still need to be specifically addressed to foster impact in many regions. This is why women’s empowerment is on top of our agenda in our financial inclusion-related initiatives as well as engagement with our microfinance clients. A large part of the work we do is using our core skills and competencies to provide multidisciplinary services to impact investors, microfinance institutions and other players in the financial inclusion space. Working with such clients is a rewarding experience because their impact on communities is profound. Justina Alders-Sheya Senior Manager, EY Netherlands 20m microfinance customers served by our microfinance institution clients More than US$4b assets under management by our clients’ impact funds See here for more research in this area. • The promise of microfinance • Challenges in microfinance • Empowering women: uncovering financial inclusion barriers Appendices Our communities Our people Our clients Introduction
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Our journey towards sustainability
Page 3 and 4: Introduction Leadership welcome 2 A
Page 5 and 6: Introduction EY at a glance 4 A bus
Page 7 and 8: Introduction Performance summary 6
Page 9 and 10: Introduction Understanding material
Page 11 and 12: Our clients Focusing on Financial S
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Page 15 and 16: Our clients Key drivers: materialit
Page 29 and 30: Our clients Embedding sustainabilit
Page 31 and 32: Our people 30 Our people propositio
Page 33 and 34: Our people Our people proposition 3
Page 35 and 36: Our people 34 Attracting and mobili
Page 37 and 38: Our people 36 Valuing diversity and
Page 39 and 40: Our people 38 Empowering through le
Page 41 and 42: Our people 40 Talent of the future
Page 43 and 44: Our people 42 Talent of the future
Page 45 and 46: Our communities 44 Our communities
Page 47 and 48: Our communities 46 Investing in our
Page 49 and 50: Our communities 48 Entrepreneurship
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Page 53: Our communities 52 Developing the l
Page 57 and 58: Our communities 56 Minimizing our e
Page 59 and 60: Appendices 58 Appendices Appendices
Page 61 and 62: Appendices GRI Contacts 60 b) Repor
Page 63: 62 EY | Assurance | Tax | Transacti
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Our journey towards sustainability

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