OUR MISSION
Magnolia’s ESG mission
“Magnolia values technology as a key driver for a better future—stronger economies, a healthier environment, and inclusive communities. We recognize our responsibility to positively impact the world through every business decision we make.”
Our initiatives
Made for real impact
Environmental
We are carbon-neutral
We are a carbon-neutral company since 2022, and we continue to lower our carbon footprint every year.
Social
We drive equal pay and social impact
We are convinced that organizations that are diverse, family-friendly, and offer equal pay perform better.
Governance
We are committed to good governance
We constantly strive to improve our governance structure and policies to implement a robust governance model.
Environmental
Reduce footprint
Our participation in the Carbon Neutral Now initiative reflects our commitment to addressing climate change.
In 2022, we took strides by compensating for our carbon footprint for the first time. Our efforts resulted in offsetting CO2 emissions of 297 tons. Furthermore, we are dedicated to optimizing our energy consumption. In total, we consumed 98,781 kWh, with 30% of that being renewable energy.
For 2023, we have defined ambitious goals: to reduce the amount of energy per customer and to increase the proportion of renewable energy sources in our operations.
Note:
As UN FCCC will be discontinued next year (2024), we will transition towards Net-Zero Emissions Commitments.
CO2 footprint after offsetting via UN-CCC program
Renewable energy usage in 2022
kWh total energy consumption 2022
Equal Pay Ratio
Attrition rate
Nationalities
Governance
Good governance
Magnolia achieved the ISO 27001:2022 certification by QMS in 2019 to demonstrate our commitment to robust information security management. Besides our high standards in information security, we introduced several policies related to sustainable business development, for example, our Corporate Social Responsibility Policy.
We also achieved the SOC 2 Type 1 certification, which will further validate the effectiveness of our controls and processes related to security, availability, processing integrity, confidentiality, and privacy. We aim to obtain SOC 2 Type 2 in 2024.
ISO 27001:2022 certified since 2019
SOC 2 Type 1 certified since 2023
Governance policies introduced in 2022
Frequently Asked Questions (FAQs)
What is Magnolia's long-term Net zero target and what is the target year?
We offset the carbon generated by the business every year to be climate neutral. We offset only via UN-CCC program to dispel any doubts about the offsetting. And the long term, we strive to reduce the amount of CO2 generated per customer. There is no target year. We are carbon-neutral already as of 2022, and we continue to lower our carbon footprint year-to-year.
Note:
As UN FCCC will be discontinued next year (2024), we will transition towards Net-Zero Emissions Commitments.
Do you have a short-term (2025-2030) carbon emission reduction target and what is the target year?
Our target for this year (2023) is to reduce footprint by 2% per customer basis and to continue running the business carbon-neutral overall. Short-term targets are set annually, so there is a target already for this year, and next year we will develop new annual targets.
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SOcial
Drive equality, diversity and inclusion
We are proud to highlight our achievements in promoting diversity and equality within our organization, including Equal Pay 1.0 and a 23% female staff representation. Our focus on staff development has resulted in a low attrition rate of 9% (the pace at which people leave a company) and 34% employee engagement (like an ongoing conversation between employer and employee).
In 2023, we aim to expand diversity activities and improve engagement to create a more inclusive workplace.