We've actively engaged a broad spectrum of both internal and external stakeholders, including all of our subsidiary businesses, to solicit their insights and guide our approach. In July 2019, the establishment of our Sustainability Leadership Council (SLC) marked a pivotal moment, strategically uniting the myriad sustainability endeavors of our individual businesses under a cohesive, Group-wide management framework.
Comprising senior-level representatives from our diverse portfolio of businesses, the SLC serves as a dynamic platform for knowledge sharing, the formulation of holistic sustainability strategies, and the mobilization of activities to enact them. Additionally, it offers a robust foundation for supporting and coordinating sustainability initiatives across the Group.
The SLC's membership is comprised of chief executives or other leaders of our principal businesses, in addition to executive directors from YLG Groups and heads of Group functions. The SLC also boasts representation from our Non-executive Directors, further enriching its diversity of perspectives. The Council is further supported by an external advisor.
Convening every six months since its inception, the SLC's discussions have unveiled a profound enthusiasm and commitment across our businesses to develop a more synchronized sustainability approach on a Group-wide scale. There's a growing realization within each business that sustainability should not merely be an auxiliary concern but a fundamental component of their modus operandi, intrinsically tied to their purpose and strategy.
The foundation of our sustainability strategy was forged through a materiality assessment of crucial Group-wide concerns, meticulously identified and prioritized, drawing on feedback from all Group businesses.
From the outset, we've placed a premium on engaging our colleagues, involving them closely in the formulation and execution of our sustainability agenda. An instrumental initial step was a comprehensive 'pulse check' survey among employees, conducted in January 2020. This survey solicited feedback from colleagues across our businesses, gauging their perspective on the most pressing sustainability priorities for the Group. With over 500 colleagues contributing their insights, an impressive 100 of them expressed a keen desire to actively partake in the development and execution of our sustainability agenda.
The initial framework has since metamorphosed into a meticulously detailed sustainability strategy that we are now proposing for approval. The strategy's primary aim is to identify, prioritize, and effectively oversee the management of pertinent sustainability matters across our diverse business portfolio, enabling them to seize novel sustainable opportunities. We believe that this proactive approach to sustainability will serve to mitigate risks and fortify our businesses' competitive edge by mobilizing our workforce, deepening our ties with crucial stakeholders, and inciting innovation. The synergy of our businesses driving the sustainability agenda forward collectively far outweighs the advantages of each of them pursuing standalone initiatives. This strategy is also an integral component of our business's future-proofing.
At YLG GROUP LTD, we ardently believe that addressing climate change is not merely a moral imperative but a fundamental necessity for ensuring the economic and social well-being of the communities in which we operate. Our unwavering commitment to pioneering climate leadership is anchored in two distinct areas of focus: climate risk management and decarbonization. We are dedicated to instilling climate resilience within our Group's operations by crafting strategies that encompass both climate mitigation and climate adaptation.
Climate risk management is a pivotal facet of our strategy, encompassing a comprehensive approach to understanding, assessing, and mitigating climate-related risks. This multifaceted endeavor entails mapping the potential climate risks and developing proactive measures to future-proof our business. We address both physical risks, which involve how a changing climate impacts our assets, and transition risks, which encompass the evolving landscape of regulations, technologies, markets, and potential reputational risks associated with our actions.
Decarbonization is central to our commitment to mitigate our environmental footprint. We have embarked on a journey to calculate and report carbon inventories for each of our diverse businesses. Initially, our focus lies on Scope 1 and Scope 2 emissions, considering these as a priority for reduction. Our Group will conscientiously evaluate a spectrum of actions aimed at decarbonizing our operations. In 2021, we have initiated a study to establish carbon reduction targets and formulate comprehensive decarbonization strategies at both the Group and business levels. Our ultimate goal is to significantly reduce our carbon footprint and usher in a more sustainable future.
At YLG GROUP LTD, our commitment to sustainability extends to fostering social inclusion, a broad pillar that revolves around three fundamental elements of social and economic sustainability: health, education, and livelihood. This initiative not only focuses on our internal colleagues but also extends its reach outward to the communities we serve.
