Vtech 2015 Annual Report Download - page 26

Sustainability
Since its inception in 1976, VTech has grown from a local
technology company in Hong Kong into a global leader
in electronic learning toys from infancy to preschool21, the
world’s largest manufacturer of cordless telephones22, and a
leading electronic manufacturing services provider. During
this incredible journey, VTech has successfully developed
sustainability strategies for the long-term development
of the company, with a vision to design, manufacture and
supply innovative and high quality products in a manner that
minimises any impact on the environment, while creating
sustainable value for our stakeholders and the communities in
which we operate.
VTech published its second Sustainability Report for the financial
year 2014 (FY2014). The purpose of the report was not only
to communicate our sustainability strategies, management
approaches and performances with our stakeholders, but
also comprehensively introduce our ongoing activities for our
sustainable development toward the societies and environment
in which we operate. VTech has also made a remarkable
progress on sustainability reporting. Our Sustainability Report
2014 received the “Sustainability Excellence Award” from
the Chamber of Hong Kong Listed Companies, and the “Best
Corporate Governance Disclosure Award 2014” in the category
of Sustainability and Social Responsibility Reporting presented
by the Hong Kong Institute of Certified Public Accountants.
These prestigious awards are a great recognition of our efforts
and achievements on sustainability.
In our Sustainability Report 2015, we not only continued to
follow the Core option of the Global Reporting Initiative (GRI)
Sustainability Reporting G4 Guideline (G4 Guideline) and its
principles, but also made reference to The Stock Exchange
of Hong Kong Limited (the “Stock Exchange”) Environmental,
Social and Governance Reporting Guide (ESG Guide)23 to define
our report content.
VTech’s sustainability strategies and efforts continue to focus
on five key areas – product responsibility and innovation,
environmental protection, workplace quality, sustainable
operating practices and community investment. We are
pleased to report that our sustainability approaches and
activities have generated meaningful benefits for our
stakeholders in the financial year 2015 (FY2015). Some of our
major achievements are also highlighted in our Sustainability
Report 2015.
Moving forward, in order to ensure that our continuous
improvement programmes and approaches on sustainability
could be carried out effectively and consistently throughout
the company and in a sustainable manner, we have established
a Sustainability Plan 2020 for the financial years from 2016
to 2020. It has not only identified our short-term goals with
activities to be achieved in the financial year 2016, but also
defined the actions and programmes to be implemented
toward the achievement of our long-term targets in the
financial year 2020.
Full details of the VTech Sustainability Report 2015 are available
on www.vtech.com/en/about-vtech/sustainability.
Sustainability Management
At VTech, the Risk Management and Sustainability Committee
(RMSC) is chaired by Dr. Allan WONG Chi Yun with Dr. PANG
King Fai, Mr. Andy LEUNG Hon Kwong and Mr. WONG Kai Man as
members – a combination of both executive and independent
non-executive directors. On 12 May 2015, Ms Shereen TONG
Ka Hung, Group Chief Financial Officer, and Mr. CHANG Yu Wai,
Company Secretary and Group Chief Compliance Officer, were
appointed as the members of the RMSC. RMSC provides vision
and strategic direction for our sustainability activities to ensure
that we stay on track and in balance with the three sustainability
dimensions of economic, environmental and social impacts
21 Source: MarketWise Consumer Insights, LLC and NPD Group Retail Tracking Service.
Ranking based on 2014 total estimated annual retail sales in the combined toy
categories of infant electronic learning and preschool electronic learning
22 Source: MZA Ltd, 2015
23 Environmental, Social and Governance Reporting Guide set out in Appendix 27 to the
Rules Governing the Listing of Securities (the “Listing Rules”) on the Stock Exchange
Our sustainability vision is to design, manufacture and supply innovative
and high quality products in a manner that minimises any impact on
the environment, while creating sustainable value for our stakeholders
and communities.
SUSTAINABILITY
24 VTech Holdings Limited Annual Report 2015