ADDVALUE TECHNOLOGIES LTD TABLE OF CONTENTS | |
OUR VISION ........................................................................................................................................................ | 4 |
OUR CORE PURPOSE......................................................................................................................................... | 4 |
OUR CORE VALUES ............................................................................................................................................ | 4 |
SUSTAINABILITY APPROACH ................................................................................................................................. | 5 |
STAKEHOLDERS....................................................................................................................................................... | 6 |
MATERIAL EESG FACTORS...................................................................................................................................... | 7 |
BUSINESS ETHICS AND EXCELLENCE.................................................................................................................... | 8 |
ENTERPRISE RISK MANAGEMENT.................................................................................................................... | 8 |
CONFLICT OF INTEREST .................................................................................................................................... | 8 |
BRIBERY AND ANTI-CORRUPTION ................................................................................................................... | 9 |
COMMUNICATION TO EMPLOYEES................................................................................................................. | 9 |
COMMUNICATION TO GOVERNANCE BODY MEMBERS............................................................................. | 10 |
ECONOMIC FACTORS ........................................................................................................................................... | 11 |
FINANCIAL GRANTS ......................................................................................................................................... | 11 |
SUPPLY CHAIN ................................................................................................................................................. | 11 |
ENVIRONMENTAL FACTORS ................................................................................................................................ | 12 |
PRODUCT DEVELOPMENT AND PRODUCTION ........................................................................................... | 12 |
GREENHOUSE GAS EMISSIONS...................................................................................................................... | 13 |
WASTE MANAGEMENT AND RECYCLING...................................................................................................... | 13 |
SOCIAL FACTORS................................................................................................................................................... | 15 |
SUSTAINABLE LABOUR PRACTICES ............................................................................................................... | 15 |
WORK LIFE BALANCE....................................................................................................................................... | 15 |
DIVERSITY AND EQUAL OPPORTUNITY......................................................................................................... | 16 |
NON-DISCRIMINATION POLICY AND EFFECTIVE COMMUNICATION........................................................ | 18 |
WORKFORCE RETENTION RATE ..................................................................................................................... | 19 |
EMPLOYEE HEALTH AND SAFETY .................................................................................................................. | 20 |
TRAINING AND PROFESSIONAL DEVELOPMENT ......................................................................................... | 21 |
CAREER DEVELOPMENT.................................................................................................................................. | 22 |
PRODUCT RESPONSIBILITY ............................................................................................................................ | 23 |
SUPPLIER SOCIAL ASSESSMENT .................................................................................................................... | 23 |
GRI CONTENT INDEX ............................................................................................................................................ | 25 |
ADDVALUE TECHNOLOGIES LTD | SUSTAINABILITY REPORT 2022 |
ABOUT THIS REPORT
GRI 102-1,102-50,102-53 to 54
This year, we continue to address the Economic, Environmental, Social and Governance ("EESG") aspects deemed material to Addvalue Technologies Ltd and our subsidiaries ("Addvalue" or the "Group").
As a world recognised 'one-stop shop'
communications technology products developer, we provide
state-of-the-artsatellite-based communication and other innovative digital broadband products and solutions for a variety of connectivity for applications at seas, on land, on flight and in space.
The Group also specialises in offering customised design services, tailored to the unique needs of each customer in availing total satellite communication solutions from anywhere and at any time. In order to promote long-term value creation in the pursuit of our commercial objectives and attainment of sustainable value for our key stakeholders, comprising the shareholders, employees, customers, vendors and regulators, the Group adopts various practices, to be carried out through sustainable efforts, concerning EESG matters.
This Sustainability Report 2022 ("Report"), covers the reporting period from 1 April 2021 to 31 March 2022 ("FY2022").
The Global Reporting Initiative ("GRI") Standards is the independent, international organisation that helps businesses and other organisations take responsibility for their impacts, by providing them with the global common language to communicate those impacts. GRI provides the world's most widely used standards for sustainability reporting - the GRI Standards, as such, we have adopted the GRI Standards for our reporting purposes. This report has been prepared in accordance with the GRI Standards: Core option.
As we progress and grow, the Group values any feedback on how we can improve on our sustainability reporting. Please send your feedback to sustainability@addvalue.com.sg.
ADDVALUE TECHNOLOGIES LTD | SUSTAINABILITY REPORT 2022 | 1 |
BOARD'S STATEMENT
GRI 102-12,102-14
Dear Stakeholders,
At Addvalue, we always strive to promote long-term value creation in the pursuit of our commercial objectives and attain sustainable value for our stakeholders. Sustainability is an integral part and embedded in our business success. We engage with our stakeholders in identifying business imperatives to drive improvements in sustainability.
First, we believe that the sustainability of our business is entwined with the global movement on environmental sustainability. Through our deliberate effort in our business transformation over the years, we have scored successes in pivoting our connectivity technologies towards fisheries sustainability and a wide array of autonomous IoT-based environmental surveillance applications, including weather monitoring, utilities efficiency and animal tracking.
Second, we make sustainability priority in our partnerships and climate protection a joint task. As the curation of the materials is an integral part of our product development programs, we aspire to nurture a supply ecosystem with our vendors who have the shared principle. Indeed, it takes the collective actions to build sustainability throughout the whole value chain of supply.
With the global business environment still impacted by the COVID-19 pandemic, we continue to meet our corporate social responsibility goals by embracing our core values and adapting to challenges. As always, sustainable digital transformation for our clients will continue to drive our resilience.
The Board and Management are committed to further enhance stakeholders' value through our robust corporate governance framework, where we manage EESG related risks and opportunities. The Board maintains oversight of the identification and assessment of EESG issues that are material to operations and stakeholders. We remain focused and have taken steps to ensure a diverse and inclusive workforce; a wide breadth of opinions and backgrounds play a large part in our success. In FY2022, the Board reinforced its governance over sustainability by adopting a Board Diversity Policy. The Group places importance on diversity for an effective board and for the sustainability of the businesses.
In this report, we are pleased to share with you our progress for FY2022 and our compass towards sustainable development. We look forward to building on our commitment for a sustainable future. We thank you for your patience and support during these difficult times. Together, we will navigate Addvalue through today's challenging phase.
On behalf of Board,
Dr Chan Kum Lok Colin
Chairman
ADDVALUE TECHNOLOGIES LTD | SUSTAINABILITY REPORT 2022 | 2 |
ABOUT US
GRI 102-2 to 7, 102-12
Addvalue Technologies Ltd was founded in 1996 and was listed on the mainboard of Singapore Stock Exchange in 2000. Addvalue's technical competencies include Radio and Antenna Design, Embedded System Design, Software Defined Radio platform. Addvalue is a world recognised 'one-stop shop' for communications technology products revolving around "Connectivity".
Leveraging off its deep and proven satellite communication knowhow for end user's terminals and applications, Addvalue has established itself as a key player in offering "Digital Connectivity as a Solution" tailored to addressing application gaps in areas where terrestrial networks do not exist, are incompetent, or are ineffective.
For example, the Addvalue's iFleetONE Vessel Monitoring System ("VMS") is developed to help fisheries authorities address the concerns of fisheries sustainability. The Addvalue's Sabre Ranger 5000 IoT solutions are targeted at various applications for environmental monitoring and power grid management.
Even in space, Addvalue has created a means to relay data quickly and efficiently to and from orbiting LEO satellites in real-time through the Inter-Satellite Data Relay system ("IDRS"). It provides a reliable platform for LEO satellite operators requiring real-time and on-demand communication, such as data alert on change detection, environmental monitoring, emergency monitoring, response and crisis intervention, and weather satellite services among other situation awareness missions.
As the mobile industry is ushering into the 5G era, Addvalue will work together with partners in satellite communication industry to bring new innovations in digital connectivity to provide better mobility and ubiquity for end users in a responsible and sustainable manner.
Addvalue markets and sells its products and solutions to government users and commercial enterprises through partners and business consultants operating in North and Latin America, Asia Pacific, Europe, Middle East and Africa. Headquartered in Singapore, where all its product development activities and manufacturing support are planned and undertaken, it also has a team in Beijing China to manage the product sales and technical support to clients in the China market.
Addvalue maintains ISO 9001:2015 Quality Management certification, where our quality management system consistently provides products and services that meet statutory and regulatory requirements, facilitates opportunities to enhance customer satisfaction, and addresses risk and opportunities effectively. Additionally, Addvalue adopts a business continuity management ('BCM') program since 2013 and continue to operate and maintain processes, capabilities, and response structures ensuring that Addvalue will survive disruptions and meets the business continuity needs and obligations.
ADDVALUE TECHNOLOGIES LTD | SUSTAINABILITY REPORT 2022 | 3 |
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Addvalue Technologies Limited published this content on 30 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2022 14:39:05 UTC.
