ICTS International N.V.
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Governance Achievements
- Strengthened the supervisory board by appointing a Dutch board member with knowledge of Dutch law.
- Further strengthened corporate governance through the amendment of its constitutional documents.
Climate Goals & Targets
Environmental Challenges
- Manpower shortage in some locations.
- Increased inflation rates increasing operating costs (mostly labor costs).
- Volatility in the crypto market negatively affecting revenues (2022).
- Cybersecurity threats.
- Data breach incident in May 2022 at I-SEC International Security B.V. resulting in approximately $0.8 million in immediate expenses.
Mitigation Strategies
- Overcame manpower shortage by the end of 2022.
- Negotiating with major customers for reimbursement for salary increases following inflation adjustments.
- Implemented certain measures in response to inflation pressures.
- Implemented a cybersecurity risk management program.
- Took steps to address the data breach incident.