Addvalue Technologies Ltd

Climate Impact & Sustainability Data (2019-04 to 2020-03, 2021-04 to 2022-03, 2022, 2023-04 to 2024-03)

Reporting Period: 2019-04 to 2020-03

Environmental Metrics

ESG Focus Areas

Economic
Environmental
Social
Governance

Environmental Achievements

Reduced usage of environmentally unfriendly packaging materials
75% of key suppliers met minimum environmental requirements in FY2020

Social Achievements

Implemented work-life balance policy with flexible work hours and locations
No incidents of discrimination reported
Average training hours increased to 21.1 hours per employee (from 12.7 hours in FY2019)
Employee turnover rate reduced to 23.4% (from 46.2% in FY2019)

Governance Achievements

Established an Enterprise Risk Management (ERM) Framework
Implemented a whistle-blowing policy for reporting misconduct
No bribery or corruption incidents reported

Climate Goals & Targets

Long-term Goals:

Keep hiring and turnover rate below 20% in the long run

Medium-term Goals:

Achieve an average of 20 hours per staff training in the short term, and 40 hours per staff in the long term

Short-term Goals:

Keep hiring and turnover rate below 15% in FY2021

Environmental Challenges

COVID-19 outbreak causing operational and shipment delays
Supply chain disruptions

Mitigation Strategies

Securing alternative suppliers
Maintaining local sourcing
Implementing supply chain risk management practices
Enhancing crisis response capabilities
Ensuring inventory accessibility

Supply Chain Management

Supplier Audits: Annual Vendor evaluation and Qualification procedure

Responsible Procurement

Vendor evaluation and Qualification procedure considers recycling, environmentally friendly materials, energy conservation, environmental certifications, and use of toxic or hazardous substances.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: ISO 9001:2015

Reporting Period: 2021-04 to 2022-03

Environmental Metrics

Total Carbon Emissions:89 tCO2e/year (Scope 2)

Scope 1 Emissions:0 tCO2e/year

Scope 2 Emissions:89 tCO2e/year

ESG Focus Areas

Economic
Environmental
Social
Governance

Environmental Achievements

Began tracking Greenhouse Gas emissions; Scope 2 indirect emissions via purchased electricity amounted to approximately 89 metric tons of CO₂. No Scope 1 emissions.
92% of key suppliers met minimum environmental requirements (up from 91% in FY2021 and 75% in FY2020).

Social Achievements

Awarded 74,300,000 new ordinary shares to 37 employees.
100% communication of anti-corruption policies to all employees (up from 100% in FY2021 and 92% in FY2020).
All employees received annual performance and career development reviews.
Zero incidents of discrimination reported.

Governance Achievements

Adopted a Board Diversity Policy.
Zero bribery or corruption incidents reported.
Updated whistle-blowing policy for greater effectiveness.

Climate Goals & Targets

Long-term Goals:

Maintain zero-corruption record.
Maintain zero discrimination and foster an inclusive culture.

Medium-term Goals:

Achieve an average of 40 hours of training per staff.

Short-term Goals:

Maintain hiring and turnover rates below 15%
Achieve an average of 20 hours of training per staff.

Environmental Challenges

COVID-19 pandemic impacting global business environment and causing supply chain disruptions and shipment delays.
Worldwide component shortages leading to longer delivery lead times.
Increased employee turnover rate in FY2022 due to research and development projects.

Mitigation Strategies

Diversifying sources and securing supplies early.
Reducing lead times by ensuring inventory is within reach and outside impacted areas.
Implementing supply chain risk management assessments and practices.
Performing materials planning with forward forecasting.
Implementing flexible work hours and flexiplace arrangements to improve work-life balance.

Supply Chain Management

Supplier Audits: Annual Vendor evaluation and Qualification procedure

Responsible Procurement

Vendor evaluation and Qualification procedure considering environmental impact (recycling, eco-friendly materials, energy conservation, environmental certifications, use of toxic or hazardous substances), and social factors (ISO 45001 certification, safe working environment, compliance with safety regulations, respect for human rights).

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core option

Sustainable Products & Innovation

iFleetONE Vessel Monitoring System (VMS)
Sabre Ranger 5000 IoT solutions
Inter-Satellite Data Relay system (IDRS)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

Environmental
Social
Governance

Climate Goals & Targets

Environmental Challenges

Global supply chain disruptions and materials shortages
Significant delays in the completion of a customer’s fund-raising exercise

Mitigation Strategies

Fund raising exercise that secured conditional commitments to raise up to S$13.2 million
Another fund raising exercise to raise about S$2m via the proposed issuance of new shares and a plan to raise another $6 million via Renounceable Convertible Bond
Loan agreements with certain existing shareholders to provide a loan in an aggregate total of $3.5 million

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Reporting Period: 2023-04 to 2024-03

Environmental Metrics

ESG Focus Areas

Governance and Ethics
Environmental
Social

Environmental Achievements

No instances of non-compliance with environmental laws and regulations.
100% of new suppliers were screened using environmental criteria.
94% of suppliers successfully passed the environmental assessment.

Social Achievements

Average training hours increased to 39.0 hours from 20.6 hours in FY2023.
All employees received their annual performance and career development reviews.
100% of new suppliers were screened using social criteria.
100% of suppliers successfully passed the social assessment.

Governance Achievements

Zero reported corruption or significant whistle-blowing report.
Achieved zero incident of non-compliance with SGX-ST listing rules, governmental laws and regulations in environmental, social and economic areas.

Climate Goals & Targets

Long-term Goals:

To have zero incident of non-compliance with SGX-ST listing rules, governmental laws and regulations in environmental, social and economic areas.
To have zero case of corruption or other improprieties.

Short-term Goals:

Maintain an average of 20 training hours per employee.
Maintain regular performance reviews and achieve 100% participation rate for all eligible employees.
Screen 100% of new suppliers using environmental and social criteria.
Achieve a minimum compliance rate of 90% for suppliers passing the environmental and social assessments.

Environmental Challenges

One supplier (6% of suppliers) whose manufacturing process is likely to pose significant actual and potential negative environmental impacts. This supplier also only complied with 20% of the social criteria.

Mitigation Strategies

The Group is committed to engaging continuously with the supplier to address identified gaps and collaboratively work towards aligning with its environmental standards. This process will involve providing support and guidance, as well as regular monitoring and evaluation of progress. The Group will also explore alternative sourcing options and diversify its supplier base to mitigate potential risks associated with non-compliance.

Supply Chain Management

Supplier Audits: 100% of new suppliers screened annually

Responsible Procurement

Annual Vendor Evaluation and Qualification procedure
Screening for significant negative environmental and social impacts

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards 2021, TCFD

Certifications: ISO 9001:2015

Sustainable Products & Innovation

iFleetONE Vessel Monitoring System
SABRE Ranger 5000 IoT solutions
IDRS (Inter-Satellite Data Relay System)