Funlab
Sustainability
A Positive Impact on Mother Earth.
Doing well (financially) and Doing Good (for our people and the planet) is an expectation of our CEO, our Motherfunners and our board. Similarly, our guests expect that in creating fun, memorable experiences we aren't damaging the environment or the communities we serve on the way. We have aligned our sustainability Strategy to the UN's Sustainable Development goals.
What is ESG?
ESG is a framework used to assess an organisation's business practices and performance across a broad range of sustainability and Ethical Factors. The framework is used to help us understand the following:
Environmental: How much does the organisation care for the environment around them? This includes efforts to reduce their carbon footprint, use of clean energy, limiting waste etc.
Social: How well does the organisation support their workforce and the wider community? Do they create a positive workplace culture that values diversity,equity and inclusion? Are there initiatives that support the wider community?
Governance: Does the organisation meet the highest standards of transparency, accountability and ethical behaviour? Do they comply with all local laws & legislation? Do they embed ESG into their mission & Business?
Why ESG is Important
For our people
We know a strong ESG strategy is an important attraction tool in the market. It is an equally powerful retention & productivity tool.
87%* of Motherfunners believe Funlab's commitment to social responsibility is genuine.
When you have engaged employees, who know what the business is trying to achieve and feel part of that mission, you will keep them for longer and they will be more productive and make better decisions while they work for you.
*Funlab Culture Amp survey Nov 2022
For Our Guests
The environment is the number one concern on the minds of our target market. Gen Z and Millenials are more likely to purchase goods from brands that do good for the planet and 45% say they are unwilling to buy from non-sustainable brands.
Having a strong ESG policy is good business and what are core target market expects.
For Our Stakeholders
Boardrooms globally are having conversations about ESG. 90% of the S&P companies produce annual ESG reports.
Future investors will see the benefits of a strong ESG Strategy and our stakeholders can be proud to be involved in a business that not only has great awareness over their environmental impact but is making inroads to influence and impact people and the planet in positive ways.
#1 Sustainable Cities & Partnership goals
We aim to be a brand recognised externally for the work we do around mental health, through our partnership with headspace and creating inclusive venues and workplaces.
#2: Responsible Consumption Goals
#3 Climate Action Goals
Introduce Scope 1 & 2 Targets
All venues will receive their carbon emissions, by per sqm. FY24 will be about awareness of the carbon emissions each venue emits, to make an overall reduction in year one. To assist we will install timers on air conditions and refrigeration units where possible to reduce emissions.
Monitor Scope 1 & 2 Targets
Once we can see what reduction is achievable through procedural and behavioural changes we will establish a group % reduction target in FY25 and internal initiatives to offset our emissions. Through the supplier questionnaires being distributed in FY24, we will get an understanding of our scope 3 emissions and can begin to formally measure these in the coming years.
Increase Green Energy Usage
Right now, we control the purchase of energy for 46% of our venues. Up until December 2023, 25% of energy for those venues comes from green energy sources (wind and solar). We are currently tendering for our electricity provider in 2024 and beyond.
Climate Action Scope Targets
Scope One
These are direct emissions. Stuff we burn (like gas in our kitchens). Also includes company cars.
Scope Two
These are indirect emissions - someone else burns them (like every time we use electricity)
Scope Three
These are upstream/downstream sources of emissions. Basically stuff our suppliers burn to make things we buy and fuel planes we travel in.
A Sustainable Procurement Policy
Funlab has developed a Procurement Policy that sets out principles and standards for the procurement of external goods and services. The purpose of this policy is to establish a common approach to Funlab's Procurement activity and to deliver sustainable, maintainable and efficient solutions and results in our procurement cycle.
The Policy states that Funlab will procure in an honest, competitive, fair and transparent manner with consideration of quality, service, environmental considerations, modern slavery compliance controls, social impact & value for money.
