ESG INITIATIVES
ENVIRONMENTAL, SOCIAL & GOVERNANCE INITIATIVES
At K&C Plumbing, we understand the importance of responsible business practices that consider the impact on the environment, society, and governance bodies. Our Environmental, Social, and Governance (ESG) initiatives reflect our commitment to minimizing negative effects and enhancing positive contributions in these areas.
On this page, we provide an overview of our materiality assessment, focusing on the key areas of impact: environmental, social, and governance. We also outline our goals and implementation strategies, demonstrating our dedication to creating a sustainable and socially responsible plumbing business.
AREAS OF IMPACT
Environmental
As a plumbing and renovations company operating in the service and construction fields, we acknowledge the significant impact our industry has on the environment. Key areas of concern include:
High Waste Production: Our industry often contributes to excessive waste due to the installation of low-cost, disposable fixtures that are not easily repairable. This leads to the unnecessary disposal of fixtures instead of promoting repair and reuse. Additionally, the sourcing of products from under-regulated parts of the world and inefficient manufacturing processes further contributes to emissions and environmental degradation.
Excessive Emissions: Inefficient business practices such as inadequate material stock on company vehicles, lack of communication with clients prior to traveling to their residences, and poor scheduling logistics result in increased emissions. These practices need improvement to minimize our industry’s carbon footprint.
Social
We recognize the social challenges within our industry and aim to address them effectively:
Gender Inequity and Underrepresentation: There is a lack of female representation in the construction industry, particularly in management positions. This has created a knowledge gap, with many clients and homeowners not understanding or not being comfortable asking skilled tradespeople and service technicians pertinent questions about how the appliances (water heaters, furnaces, boilers) and systems (Natural gas, Propane, Water, Sewage) in their homes work.
Family Stability: The construction industry experiences high rates of broken homes and divorce, exacerbated by long work hours, physically demanding work, workplace injuries, and insufficient provisions for employees and their families. We strive to improve support systems and work-life balance for our employees.
Quality in Rural Communities: Smaller rural and remote communities often face challenges in terms of workmanship, price gouging, the presence of unlicensed workers, and subpar training of tradespeople many of whom lack real experience the rural aspects of plumbing (On Site Waste Management, Wells, Pumps, Sand points, Water Treatment). Our aim is to address these issues by providing adequate training and experience for tradespeople in rural plumbing practices.
Governance
Transparency and accountability are crucial for maintaining client, investor, and shareholder confidence. We are dedicated to upholding high governance standards:
Ethical Business Practices: Our brand is built on a commitment to ethics and values, which are enshrined in our company policies and practices.
Equal Opportunity Employment: We are committed to creating a diverse workforce and management team, ensuring equitable representation and fostering an inclusive environment while upholding a minimum standard of service quality.
GOALS & IMPLEMENTATION
Environmental:
Reduce Waste: To take continuous steps to increase operational efficiency and promote longer-lasting, higher-quality products to minimize waste generation.
Promote Sustainable Products: To incentivize the use of domestically manufactured and regulated products, encouraging a shift away from disposable items and imports.
Efficient Inventory Management: To implement inventory requirements and increased van stock on service vehicles to reduce unnecessary travel during service calls.
Social:
Equal Opportunity Hiring: To develop and implement a comprehensive strategy to increase female representation in our industry, while fostering management skills alongside trade-specific knowledge.
Customer Education: To create a system that incentivizes our plumbing technicians to educate homeowners about their plumbing systems and provide advice on maintenance and improvements.
Employee Well-being: To enhance the quality of life for our employees by offering an inclusive and comprehensive benefits package, including subsidized gym memberships, and implement a 4-10 shift schedule to provide more time with families.
Safety Protocols: To continuously seek, implement, and improve safety protocols to ensure the well-being of our employees.
Expansion to Rural Communities: To extend our service area to include the rural communities surrounding Winnipeg at no additional cost, improving access to quality plumbing services.
Governance:
Strengthen Policies and Infrastructure: To conduct annual audits to assess the efficacy and enforcement of our company policies, including the USA and employee handbook, aligning them with our business plan and strategy.
Shareholder Engagement: To hold quarterly shareholder meetings to openly address corporate standings and direction.
Regular Performance Assessments: To regularly assess our corporate performance against ESG goals. Through thorough analysis of financial data, we will evaluate our progress and make necessary adjustments to our policies and practices to enhance performance outcomes.
Positive Community Influence: To conduct quarterly assessments of societal issues related to our corporate influence. We strive to identify the most effective ways to promote positive change in our community through our policies while ensuring a positive return for our shareholders.
By actively addressing governance issues, promoting transparency, and fostering accountability, we aim to build trust and maintain strong relationships with our clients, investors, and shareholders. Our commitment to high governance standards ensures that K&C Plumbing operates ethically and with integrity, maintaining the highest level of professionalism in our industry.