Vision and Committee
Vision and Committee
To fulfill the vision of being "the best partner in optoelectronics, energy conservation and smart technologies", LITE-ON Chairman Raymond Soong and the executive officers led the way and created the Corporate Social and Environment Responsibility (CSER) Committee. The committee oversees a team responsible for promoting corporate social responsibility and making it part of LITE-ON's core values and corporate culture. It is also the team's mission to apply strengths in execution, innovation, and integrity to develop a path to sustainability. LITE-ON, in its pursuit of revenue and profit growth, never strays from its CSR commitments, which in turn provide constant fuel for business momentum and keep the company competitive. Furthermore, LITE-ON is dedicated to innovation and constant improvement aimed at developing high added value products and maximizing value and benefits for LITE-ON employees and shareholders as well as the society as a whole. In 2017, LITE-ON made adjustments to the existing committees to reflect actual performance. In addition, the board of directors approved an amendment of the LITE-ON Corporate Social Responsibility Best Practice Principles, which was intended to ensure LITE-ON fulfilled its corporate social responsibility through effective implementation of corporate governance, development of a sustainable environment, ongoing support of public interest, and improved information disclosure.
The CSER Committee was established for the purpose of realizing LITE-ON's various social pledges, including employer-employee relations, employee care, corporate governance, environmental protection, and public charity works. The CSER Committee places a great emphasis on complying with government laws and regulations, protecting work rights, improving workplace health and safety, developing green products, reducing damage to the environment, and upholding social and environmental responsibilities in order to meet stakeholders' expectations in economic, environmental, and social aspects of the business. The CSER Committee is supervised by the board of directors. It is chaired by Chairman Raymond Soong. CEO Warren Chen is the Committee Head and leads LITE-ON's executive management in implementing management practices. Annual CSR targets are set in terms of the economic, environmental, and social aspects of the business. Progress is monitored regularly so to ensure LITE-ON's continuing advancement toward sustainability and fulfillment of its short- and medium-term goals. In addition, updates and results are reported to the board of directors as appropriate every year.
LITE-ON takes a business-driven approach towards CSER, and plans CSER efforts as investments while measuring returns based on the three layers of earning produced therefrom. The London Benchmark Group (LBG) model is an analytical tool used in LITE-ON. It focuses on the three aspects of any CSER investment, which are input, output, and lasting impact. By systematically planning and executing our strategies, we are able to ensure the success and improvement of our CSER efforts. In response to changes in the environment and the concerns of stakeholders, LITE-ON has developed six main CSER principles based on the company's capacity and incorporated them into daily operations to effectively facilitate adoption of CSER practices. These six principles are: RBA management, social engagement, supply chain management, green design, environmental sustainability, and information disclosure and added value.
LITE-ON, as part of its vision of being "the best partner in optoelectronics, energy conservation and smart technologies", chooses sustainable governance, tolerance and innovation, and environmental sustainability as its strategic goals. The company builds on the United Nations Sustainable Development Goals (SDGs) and applies its core values to ensure effective implementation of corporate governance, development of a sustainable environment, and ongoing support of public interest. LITE-ON has formulated 8 sustainability targets and identified 22 material issues, all of which are disclosed herein.
LITE-ON supports CSR in climate change with action and full participation. It has set medium- and long-term carbon reduction targets according to the We Mean Business climate change disclosure, carbon reduction policy, and voluntary carbon reduction commitment. In support of the final Task Force on Climate-Related Financial Disclosures (TCFD) recommendations on climate change related financial disclosure, LITE-ON includes climate related financial reports in stakeholder communications. LITE-ON also works on adapting to and mediating the effects of greenhouse gases and performs analysis and management of internal energy consumption on an ongoing basis as a proactive approach to reducing greenhouse gas emission.
LITE-ON complies with internationally recognized human rights standards, including Universal Declaration of Human Rights (UDHR) and International Labour Organization (ILO) and UN Guiding Principles of Business and Human Rights. LITE-ON follows the aforesaid standards, local regulations where it conducts business activities, SA 8000 (Social Accountability 8000), and Responsible Business Alliance (RBA) and establishes its labor standards, LITE-ON Human Rights Policy and LITE-ON CSER Code of Conduct (CoC).
The LITE-ON Human Rights Policy and CSER CoC apply to LITE-ON Group and its subsidiaries (of which LITE-ON is a principal shareholder and involved in management), supply chain, contractors and subcontractors. LITE-ON holds its suppliers to the same standards and expects LITE-ON suppliers to commit to compliance with LITE-ON Human Rights Policy and CoC. The scope of CSER CoC encompasses all activities, including trade, investment, subcontracting, supply, business development, and other business activities and employment relationships. The CSER CoC describes a commitment to issues such as business ethics, employer-employee relations, environmental protection, health and safety, management systems, corporate governance, and social engagement. The company’s performance in this regard has been attested to by internal as well as external inspectors.