Our Sustainability Goals

In 2022, ViTrox embarked on a significant sustainability journey by establishing 30 ambitious goals to be achieved by the year 2030, aimed at enhancing our ESG performances. These targets are meticulously designed to steer our efforts towards addressing critical sustainability issues and contributing to the achievement of the UN SDGs. Out of the initial 30 goals set in 2022, we successfully achieved 17, did not meet 11, and revised the remaining 2.

Reflecting on our journey in 2023, we conducted a thorough review of our actual performance against the targets set for the year, comparing them with industry benchmarks. This evaluation led us to identify areas for further improvement, and as a result, we expanded our commitment by adding an additional 5 goals, bringing our total to 35. In this regard, we continued prioritising and focusing on the 14 UN SDGs most relevant to our operations, reflecting our ongoing commitment to sustainability.

Sustainability Matters Measurement Baseline Actual Performance Status Target Target Goal
2019 2020 2021 2022 2023 2023 2023 2024 2030
Core Theme: A Go-Green Practitioner
SDG Alignment A Go-Green Practitioner A Go-Green Practitioner A Go-Green Practitioner A Go-Green Practitioner A Go-Green Practitioner
Climate Change and Energy Management Year-on-year reduction of Scope 2 carbon emissions from the base year of 20211 2021:
3,075.1tCO2		 12,416.4tCO2 12,633.9tCO2 13,075.1tCO2 13,852.4tCO2 3,676.7tCO2 Not achieved ≥ 2.0% ≥ 2.0% Net-zero carbon emissions
Energy savings rate of previous year’s purchased electricity2 2023:
7,408 MWh		 Not applicable; this is a newly added target in 2023. 0.6% Not applicable; this is a newly added target in 2023. ≥ 2.0% ≥ 2.0%
Year-on-year reduction of Scope 2 carbon emissions per revenue on a 3-year rolling period basis3 2023:
0.00529 tCO2e/RM’000		 Not applicable; this is a newly added target in 2023. 7.7% -5.1% Not applicable; this is a newly added target in 2023. ≥ 2.0% ≥ 2.0%
Environmental Conservation and Preservation Compliance with Restriction of Hazardous Substances (“RoHS”) Directive 2023:
46.0%		 4 46.0% Not achieved 4 ≥ 50.0% 100%
Employees’ participation in V-Meal 2021:
78.8%		 68.8% 72.2% 78.8% 74.9% 70.2% Not achieved ≥ 80.0% ≥ 80.0% ≥ 85.0%
Year-on-year increase in number of earth-friendly meals served 2023:
177,635 meals		 Not applicable, this is a newly added target in 2023. 155,884 meals 177,635 meals Not applicable; this is a newly added target in 2023. ≥ 5.0% ≥ 15.0%
Water Management Reduction of water consumption per 1,000 sq. ft. for cooling infrastructure 2023:
85.1ML/1,000 sq. ft.		 Not applicable; we collected data since April 2023. 85.1ML /1,000 sq. ft. Not applicable; this is a newly added target in 2023. ≥ 3.0% ≥ 20.0%
Reduction of water consumption per headcount for domestic usage 2023:
14.8ML/pax		 Not applicable; we collected data since April 2023. 14.8ML/pax Not applicable; this is a newly added target in 2023. ≥ 3.0% ≥ 20.0%
Waste Management Wood waste diversion Not applicable; we collected data since July 2021. 5100% 100% 100% Achieved ≥ 20.0% ≥ 40.0% 100%
Reduction of non-biodegradable materials used in packaging activities 2022:
550 pieces polyethylene foam; 150 pieces foam peanuts		 Not applicable; we will commence this initiative in 2023. 96.7% Achieved ≥ 30.0% ≥ 40.0% 100%
Year-on-year increase in usage of honeycomb paper wrappers 2023:
0.9 tonne		 Not applicable; we commenced this initiative in 2023. 0.9 tonne Not applicable; this is a newly added target in 2023. ≥ 10.0% ≥ 10.0%
Sustainability Matters Measurement Baseline Actual Performance Status Target Target Goal
2019 2020 2021 2022 2023 2023 2023 2024 2030
Core Theme: An Accountable Purchaser
SDG Alignment An Accountable Purchaser An Accountable Purchaser An Accountable Purchaser
Supply Chain Management Procurement from local suppliers 2021:
62.8%6		 664.0% 663.3% 662.8% 662.1% 64.3% Achieved ≥ 62.0% ≥ 64.0% ≥ 65.0%
Active suppliers signed Supplier Code of Conduct (“SCOC”)7 2021:
47.2%		 Not applicable; we initiated SCOC in 2021. 47.2% 49.3% 7
Communication with active and new suppliers on SCOC and Anti-Bribery and Corruption (“ABC”) Policy7 2023:
100%		 Not applicable; we initiated SCOC and ABC Policy in 2023. 100% Achieved ≥ 55.0% 100% 100%
Communication with active suppliers on Supplier Self-Assessment Questionnaire (“SAQ”) 2022:
50		 Not applicable; we initiated SAQ in 2022. 850 100% Achieved ≥ 40.0% ≥ 45.0% ≥ 80.0%
Sustainability Matters Measurement Baseline Actual Performance Status Target Target Goal
2019 2020 2021 2022 2023 2023 2023 2024 2030
Core Theme: A Caring Employer
SDG Alignment A Caring Employer A Caring Employer A Caring Employer A Caring Employer A Caring Employer A Caring Employer
Talent Attraction and Retention Year-on-year employee growth rate 2022:
890 employees		 15.8% 7.9% 17.7% 11.4% 11.1% Not achieved ≥ 15.0% ≥ 15.0% ≥ 15.0%
Intern conversion rate to new hire 2021:
26.7%		 24.4% 25.0% 26.7% 20.9% 18.8% Not achieved ≥ 20.0% ≥ 20.0% ≥ 20.0%
Employee turnover rate 2021:
7.5%		 8.1% 8.7% 7.5% 15.1% 10.9% Not achieved ≤ 10.0% ≤ 9.0% ≤ 8.0%
Employee Net Promoter Score 2022:
+44.7		 +47.5 +53.1 +54.3 +44.7 +42.3 Not achieved ≥ +50.0 ≥ +45.0 ≥ +55.0
Employee satisfaction rate 2022:
94.6%		 94.9% 95.4% 95.4% 94.6% 9
Employee engagement rate9 2023:
78.9%		 Not applicable; this is a newly added target in 2023. 78.9% Not applicable; this is a newly added target in 2023. ≥ 80.0% ≥ 85.0%
Number of school students engaged in STEM-related activities 2022:
1,076 students		 Not applicable; our initiative to engage students in STEM activities commenced in 2022. 1,076 students 2,076 students Achieved ≥ 1,300 students ≥ 1,500 students ≥ 3,000 students
Talent Development Employees completing 20 training hours 2021:
78.1%		 81.2% 61.4% 78.1% 80.2% 81.7% Achieved ≥ 80.0% ≥ 80.0% ≥ 90.0%
Workplace Health and Safety Incident rate10 2021:
2.4		 1.7 3.1 2.4 5.4 6.3 Not achieved < 2.0 < 2.0 < 1.0
Lost time injury frequency rate11 2021:
1.2		 0.6 2.1 1.2 2.1 1.6 Not achieved < 1.0 < 1.0 < 0.5
Human Rights Human rights related training Not applicable; we will commence this initiative in 2023. 87.8% Achieved ≥ 80.0% ≥ 85.0% 100%
Diversity and Inclusion Female employee composition 2021:
30.0%		 28.8% 29.9% 30.0% 31.3% 31.6% Achieved ≥ 30.0% ≥ 30.0% ≥ 30.0%
Female composition in managerial positions 2021:
23.3%		 20.2% 19.5% 23.3% 29.5% 26.7% Achieved ≥ 23.0% ≥ 25.0% ≥ 28.0%
Female composition in technical positions 2021:
15.4%		 15.7% 16.8% 15.4% 15.5% 15.4% Not achieved ≥ 20.0% ≥ 20.0% ≥ 25.0%
Diversity, Equity and Inclusion (“DEI”) programme participation rate for hiring managers Not applicable; we commenced our first DEI awareness programme in 2022 and set a stretched participation rate for the DEI programme for 2023 and 2030. 57.0% 86.1% Achieved ≥ 80.0% ≥ 85.0% ≥ 100%
Sustainability Matters Measurement Baseline Actual Performance Status Target Target Goal
2019 2020 2021 2022 2023 2023 2023 2024 2030
Core Theme: A Trusted Corporation
SDG Alignment A Trusted Corporation A Trusted Corporation A Trusted Corporation A Trusted Corporation A Trusted Corporation A Trusted Corporation
Innovation and Product Excellence Number of new product introduction (“NPI”) At least 2 NPIs per annum by each business unit 8 13 11 13 13 Achieved ≥ 8 ≥ 10 ≥ 10
Revenue contribution from NPI 2021:
21.9%		 Not applicable; we started tracking revenue from new products in 2021. 21.9% 22.5% 16.9% Not achieved ≥ 20.0% ≥ 20.0% ≥ 20.0%
Customer Net Promoter Score 2021:
+46.5		 +47.8 +39.3 +46.5 +47.0 +48.1 Achieved ≥ +48.0 ≥ +50.0 ≥ +55.0
Customer trustworthiness level 2021:
84.9%		 Not applicable; we started collecting the data in 2021. 84.9% 86.8% 87.8% Not achieved ≥ 88.0% ≥ 88.0% ≥ 90.0%
Customer Experience Recovery Rate (“CERA”) 2021:
34.6%		 Not applicable12 1233.9% 34.6% 32.2% 46.8% Achieved ≥ 30.0% ≥ 35.0% ≥ 40.0%
Community Engagement Average voluntary hours per employee 2021:
13 hours		 9 hours 18 hours 13 hours 25 hours 27 hours Achieved ≥ 18 hours ≥ 18 hours ≥ 20 hours
Sustainability Matters Measurement Baseline Actual Performance Status Target Target Goal
2019 2020 2021 2022 2023 2023 2023 2024 2030
Core Theme: Sustainable Governance
SDG Alignment A Trusted Corporation A Trusted Corporation A Trusted Corporation A Trusted Corporation
Corporate Governance and Ethical Practices Number of confirmed incidents of corruption 2021:
0		 0 0 0 0 0 Achieved 0 0 0
Female composition on the Board of Directors (”Board”) Practise 5.9 of the Malaysian Code on Corporate Governance: At least to have 30.0% females on the Board 25.0% 28.6% 28.6% 44.4% 44.4% Achieved ≥ 30.0% ≥ 30.0% ≥ 30.0%

Notes:
  1. Restatement of the 2019, 2020, 2021 and 2022 data in the 2023 Sustainability Report due to data update. In 2023, we strengthened our dedication to combating climate change and developed 2 new targets with better accuracy in measurements to achieve improved energy efficiency and reduction of Scope 2 carbon emissions. Consequently, the target established in 2022 will be superseded by these 2 new targets, detailed in notes 2 and 3 below.
  2. In 2023, we introduced a new target to achieve an energy saving rate of 2.0% of previous year’s total electricity consumption to significantly increase the energy efficiency of our operations.
  3. In 2023, we introduced a new target to achieve a 2.0% year-on-year reduction of Scope 2 carbon emissions per revenue on a 3-year rolling period basis as a more precise sustainability measurement by accounting for operational variations and scaling emissions reduction efforts in proportion to business activities.
  4. In setting our target and goal for RoHS-compliant materials, ViTrox moves towards self-declaration and monitoring of RoHS-compliant materials starting in 2023. We target to achieve zero (0) use of hazardous materials and achieve 50.0% and 100% RoHS-compliant materials in all ranges of our products by 2024 and by 2030, respectively, with the exception of Advanced 3D X-ray Inspection (“AXI”) machines.
  5. This data represented 100% diversion of wooden waste from landfills from July 2021 to December 2021 as we started collecting data from July 2021.
  6. Restatement of the 2019, 2020, 2021 and 2022 data in the 2023 Sustainability Report due to data update.
  7. In 2022, we set to achieve a minimum of 55.0% signed SCOC from our active suppliers in 2023, with the aim to reach 80.0% by 2030. Starting in 2023, we are shifting our focus to communicate our ABC Policy in conjunction with the SCOC to all active and new suppliers, rather than solely tracking signed SCOC from active suppliers.
  8. In 2022, we communicated with 50 key suppliers on SAQ. For 2023 and 2030, we strive to communicate at least 40.0% and 80.0% of active suppliers on SAQ.
  9. In 2023, we transitioned to an engaged survey method from the traditional annual satisfaction survey, focusing more closely on job satisfaction, purpose, and recognition. This shift provides us with deeper insights into the drivers of our employees’ engagement. We aim to achieve at least 80% engagement among our employees by 2024, with a further goal of reaching 85% by 2030.
  10. Incident rate refers to the number of occupational incidents occurring in a workplace every 1 million hours worked.
  11. Lost time injury frequency rate refers to the number of lost time injuries occurring in a workplace every 1 million hours worked.
  12. We launched CERA in October 2020. As such, 2020 CERA represents a 3-month rating from October 2020 to December 2020.

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