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ESG Strategy
Begin with The End in Mind,
Execute the ESG Strategy.
The ESG strategy is unified in the corporate strategy.
The ESG strategy of GigaDevice consists of ESG vision, ESG key issues, ESG goals and the goal-time path, forming a complete ESG strategy roadmap. We've established three-level ESG management structure, three ESG management mechanisms, and three-year ESG improvement action path, which guarantees that our ESG strategy is well suited for the entire organization and can be implemented successfully.
The ESG vision, unified in the framework of the corporate vision, is an extension and expansion of the corporate vision in the ESG field.
ESG Vision
Seek Long-lasting Development, Tech for Good
ESG Key Issues
We identify and screen ESG key issues that affect our operation, serving as goals and foundations for corporate sustainable management. We also integrate the identified ESG key issues into the corporate philosophy, and redefine the ESG key issues with the corporate culture.
Initials (S, T, I, L, L) of the five cultural connotation words of the five key issues are "Still" and form the STILL framework of the ESG strategy. The word "Still" suggests perseverance, denoting that no matter how the environment changes, we will always remain true to our original aspiration, and adhere to the vision of "Seek Long-lasting Development, Tech for Good".
ESG Goals and Goal-time Paths
Our short-term, medium-term, and long-term action paths are depicted in the ESG goals and goal-time paths (fulfillment of the targets will be disclosed in the ESG report).
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Corporate Governance
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Human Capital Development
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Business Ethics and Anti-corruption
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Response to Climate Change
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Responsible Supply Chain
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S- Steady Development
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1. Establish a mechanism that can link up the performance on sustainable development with remunerations
Short-term goal: By 2024, establish a mechanism that can link up the performance on sustainability issues with the remunerations of board of directors and the management.
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2. Improve the ESG performance of the board of directors
Short-term goal: By 2025, the proportion of female directors should have increased compared to 2021;
Short-term goal: By 2025, establish ESG management policies at the level of board of directors (e.g., Diversity Policy of Board of Directors Members).
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T- Teamwork
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1. Develop a monitoring mechanism for employee diversity
Short-term goal:
By 2025, achieve a proportion of female management exceeding 20%;
achieve a proportion of female R&D technical employees exceeding 25%;
achieve a proportion of employees with master degrees or doctoral degrees exceeding 50%.
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2. Conduct training on DE&I Policies
Short-term goal: By 2024, achieve 100% coverage of internal DE&I Policies training over the employees.
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I- Integrity
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1. Conduct training on anti-commercial bribery
Short-term goal: In the first half of 2024, conduct an anti-commercial bribery training for all employees.
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2. Further promote the requirements of anti-commercial bribery compliance for the supply chain
Short-term goal: By 2025, convey anti-commercial bribery compliance requirements to typeⅠcore suppliers effectively；
Medium-term goal: By 2027, convey anti-commercial bribery compliance requirements to all typeⅠsuppliers effectively.
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3. Promote the signing of compliance-related documents for suppliers
Short-term goal: By 2025, sign compliance-related documents with typeⅠcore suppliers；
Medium-term goal: By 2030, sign compliance-related documents with 90% of typeⅠsuppliers.
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L- Low-carbon Operation
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1. Carry out carbon footprint verification
Short-term goal: By 2023, accomplish the carbon footprint verification of scope I and scope II of the corporate；
Short-term goal: By 2023, accomplish the electricity usage verification of key suppliers；
Medium-term goal: By 2030, accomplish 100% carbon footprint verification of suppliers.
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2. Reduce carbon emission
Medium-term goal: By 2030, reduce the greenhouse gas emissions of scope I and scope II of the corporate by 50% compared to 2021；
Long-term goal: By 2060, achieve carbon neutrality of scope I and scope II of the corporate；
Long-term goal: By 2060, promote the supply chain to achieve carbon neutrality of the corporate products.
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3. Encourage suppliers to utilize renewable energy sources
Medium-term goal: By 2030, achieve over 60% utilization of green electricity for operations within the corporate；
Medium-term goal: By 2030, collect 100% statistics of the suppliers’ utilization of renewable energy sources；
Long-term goal: By 2060, achieve 100% utilization of green electricity for operations within the corporate；
Long-term goal: By 2060, promote the supply chain to achieve 100% utilization of renewable energy sources for the corporate products.
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L- Leading Innovation
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1. Expand the management scope of conflict minerals
Short-term goal: By 2023, ensure that 100% of suppliers comply with the non-conflict minerals policy；
Long-term goal: Review the suppliers' 3TG and cobalt utilization at least once a year.
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2. Establish the ESG risk management evaluation system for the supply chain
Short-term goal: By 2023, complete the ESG self-evaluation of 100% of typeⅠcore suppliers.
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3. Promote the suppliers to attain RBA certification
Medium-term goal: By 2030, ensure that 50% of typeⅠ core suppliers attain the RBA certification；
Long-term goal: By 2050, ensure that 100% of typeⅠcore suppliers attain the RBA certification.
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