Midland Credit Management is a subsidiary of Encore Capital Group, and we are proud to share with you the results of Encore’s recently released inaugural Environmental, Social, and Governance (ESG) report. This report highlights the company’s commitments and progress towards sustainability and social responsibility. The report provides an overview of Encore’s ESG strategy and key metrics, detailing its efforts to manage environmental impact, promote diversity and inclusion, and maintain ethical business practices. Through its ESG initiatives, Encore aims to contribute to a more sustainable future and promote positive social and environmental outcomes.
Encore’s report outlines commitments to our consumers, communities, colleagues and the planet.
Today, we released our 2021 Environmental, Social and Governance (ESG) Report, which brings to life Encore’s global efforts to advance our environmental, social and governance initiatives and milestones.
At Encore, our commitment to ESG is critical to growing our business, advancing our broader Mission to create pathways to economic freedom for the consumers we serve, promoting the health and sustainability of the communities where we live and work, and ensuring we are strong corporate stewards in everything we do.
While this is Encore’s inaugural ESG report, these principles are not new to our organization. ESG influences many of our day-to-day practices. We are committed to working with consumers to resolve their debt challenges with compassion, respect, and fairness. Within our organization, we strive to cultivate a culture where our actions and mindset are inclusive and ensure every individual can thrive at work. We recognize our responsibility to operate our business sustainably and ensure the highest, most- trusted standard for ethical practices and decision-making.
“I’m proud of the numerous ways that Encore continues to be a positive force in society,” said Ashish Masih, Encore’s President, and CEO. “Both now and in the journey ahead, we remain committed to creating an opportunity-rich work environment for our people, ensuring responsible environmental practices, giving back to our communities and operating ethically with a focus on the overall consumer experience and outcomes.”
Informed by the priorities of our stakeholders and our industry, we defined five key pillars to guide our ESG journey. The following are key highlights from each pillar, and you can learn more in Encore’s 2021 ESG Report:
- Consumers: We took critical actions to support our consumers most impacted by the Covid-19 pandemic and announced the findings from our first Economic Freedom Study.
- Community: We continued to support the communities in which we operate and took proactive action to champion and strengthen financial literacy in our communities.
- Colleagues: We offered close to 380,000 hours of training to our global colleagues and established employee-led D&I Councils at Midland Credit Management (MCM) and Cabot Credit Management (Cabot).
- Environment: We conducted a Greenhouse Gas (GHG) inventory, in accordance with the World Resource Institute’s GHG Protocol, and partnered with local non-governmental organizations (NGOs) to restore biodiversity.
- Operating Responsibly: We developed an operating model for ESG management and reporting, tied at least 30% of our executives’ target bonus to ESG performance and published a new Vendor Code of Conduct and Global Human Rights Policy.
Looking ahead, we are eager to continue our ESG journey and deliver on our commitment to strong and transparent practices. At Encore, we recognize that the success of our Mission and Vision — to create pathways to economic freedom for our consumers and partner with them to help restore their financial health — is dependent on taking meaningful steps to drive this important work forward.
Learn more about what ESG means at Encore: