BIK Ratings awarded an A.esg ESG rating to Eurotime Leasing Company LLC, a subsidiary of Insight Investment Group LLC in Belarus. The outlook is stable.
According to BIK Ratings' report, Eurotime demonstrates a high commitment to sustainable development principles in its key management decisions across environmental, social, and corporate governance areas. The company sells green products and maintains adherence to sustainability and ESG principles in its day-to-day operations.
Previously, the company was not ESG-rated. The current rating has been given a stable outlook, with BIK Ratings expecting it to maintain this status in the near future.
Environmental risk profile:
Eurotime does not utilize renewable energy sources.
The company focuses particularly on promoting electric vehicles in the Belarusian market, with electric vehicles making up 8.3% of new business by the end of 2023 and projected to reach 10.7% in the second quarter of 2024.
Eurotime has pledged to reduce its carbon footprint by 40 tons of CO2 equivalent annually. The company is committed to ensuring that old tires from its operations are fully recycled.
Social risk profile:
Eurotime has internal guidelines that govern its corporate social responsibility practices. Locally adopted legal statutes ensure that employee discrimination is prevented within the team.
The company offers its full-time employees basic free health insurance and opportunities for training. Some full-time employees have the option to work remotely. Employee turnover is considered low. The workforce is established on a basis of gender equality.
The company adheres to information security standards, with no incidents of confidential data breaches reported during the period under review.
Management risk profile:
BIK Ratings' analysis of the corporate governance system shows it to be highly effective.
Eurotime holds internal regulations for risk management. The company is noted for its information transparency, publishing regular and timely financial and non-financial reports.
There are no known issues negatively impacting the company's business reputation.
Eurotime conducts external evaluations of its ESG activities and sustainability initiatives.