VIA Labs, Inc.
Climate Impact & Sustainability Data (2019, 2022)
Reporting Period: 2019
Environmental Metrics
ESG Focus Areas
- Corporate Social Responsibility
- Ethical Corporate Management
Social Achievements
- Established a dedicated unit for promoting CSR.
- Established a dedicated unit for promoting Ethical Management.
- Adopted Corporate Social Responsibility Best Practice Principles.
- Adopted Ethical Corporate Management Best Practice Principles and Procedures for Ethical Management and Guidelines for Conduct.
- Adopted Codes of Ethical Conduct.
Governance Achievements
- Amendment of the Articles of Incorporation to increase the number of Directors and clarify dividend distribution procedures.
- Reviewed and approved 2019 business and financial reports by the Audit Committee and Board of Directors.
- Reviewed and approved 2019 compensation distribution for employees and directors by the Remuneration Committee and Board of Directors.
- Established a whistle-blowing system.
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Corporate Social Responsibility
- Sustainable Development
Governance Achievements
- Amendment of the Corporate Social Responsibility Best Practice Principles to align with legal changes.
- Establishment of a governance structure for the promotion of sustainable development initiatives.
Climate Goals & Targets
Environmental Challenges
- Reduced market demand due to the Ukrainian-Russian War and rising US interest rates.
- High number of sales days and inventory turnover days.
- Decline in revenue and slow removal of inventory leading to inventory valuation loss.
Mitigation Strategies
- Strengthening the speed of destocking and adjusting the status of suppliers' purchases to properly arrange inventory levels.
Supply Chain Management
Responsible Procurement
- The company assesses the environmental and social impact of their procurement and cooperates with suppliers to implement sustainable development initiatives. They establish supplier management policies and require compliance with rules on environmental protection, occupational safety and health, and labor rights. They avoid transactions with suppliers with negative environmental and social records.