ESG POLICY

ESG Policy

 

ESG stands for Environmental, Social, and Governance, which are three key components when measuring an investment’s sustainability and ethical impact in a business. These are the non-financial performance indicators used in capital markets and by investors to determine corporate behaviour before deciding if it is viable.

 

3F Waste Recovery believes innovation and sustainability improve lives. We believe that success is fostered by responsible ownership and commitment to building a long-term sustainable business. 3F will provide economic growth and employment opportunities in an environmentally, socially, and responsible investment by incorporating ESG practices will have higher financial development and optimization.

 

Environmental

3F is named after the three markets whose waste we recover to make new and valuable products: fishery, forestry, and farming. Due to this, our core business model is sustainable. We are proud to be part of a circular economy; what would otherwise be disposed of back into the natural environment or a landfill is repurposed to reduce the price of our input material and eliminate the damage caused through disposal. We have developed novel technology and chemical processes that use the entirety of the by-product from these markets.

 

Social

3F is committed to maintaining a respectful relationship with our employees, suppliers, and customers. In no uncertain terms, we are an equal opportunity employer that does not tolerate discrimination on the basis of faith, age, sexuality, physical ability, gender, ethnicity, or membership of a community. We believe that the collective sum of the individual differences in our company gives us a competitive advantage over those that do not adhere to these beliefs. Additionally, we are mindful and respectful that much of Newfoundland and Labrador is land that makes up the traditional territory of diverse Indigenous groups such as the Beothuk, Mi’kmaq, Innu, and Inuit peoples.

 

3F operates out of Main Brook but has components of its operations in many communities that have underemployed populations. We wish to bring economic prosperity to these communities, rejuvenating historically significant jobs and traditional lifestyles in the process. It is essential to 3F’s vision that we keep our traditional industries, such as the cod fishery, owned and operated within the province. Foreign corporations have exploited Newfoundland for long enough, and we plan to reverse this trend. Our natural resources belong to the people of this province.

 

Finally, we have instituted several company-wide policies that greatly benefit our employees. We encourage our employees to seek additional education that they feel would be beneficial and improve their productivity, free of cost. We provide well-paid internships for master’s and Ph.D. students looking for experience in their given field of studies. Employees are provided opportunities to work outside their area of expertise, providing a means to challenge themselves and develop into different roles. We also have a minimum wage of $20 an hour, which reflects the rising cost of living, alleviates financial stress, demonstrates our appreciation for our employees, and provides economic security.

 

Corporate Governance

Founder and CEO Ben Wiper is the visionary behind the company and delegates tasks based on employees’ competencies. Still, the organization’s structure is horizontal more than vertical; even the CEO takes part in the hands-on production of our products like cod skin animal treats. The job description for most employees includes elements of management; they are given tremendous freedom in their functions and are encouraged to find novel solutions to problems. HR ensures smooth day-to-day operations, communicates effectively with all employees, seeks to better the workplace through inventive approaches, aids in strategizing, and has an eye for recruiting experts in fields of interest. 3F recognizes that it often takes a village to build dreams into a reality, and our corporate structure follows in the footsteps of tech giants such as Google and Apple for this reason.