At Technicolor, Corporate Social Responsibility (CSR) is an embedded value managed at the highest level. All strategic orientations, initiatives and commitments relating to Sustainable Development are reviewed by the Board of Directors and its Governance & Social Responsibility Committee.
One of the foundations of our CSR approach has been our longstanding adoption since 2003 and renewed commitment every year to the ten principles of the United Nations Global Compact (UNGC), and more recently, our willingness to integrate the United Nations Sustainable Development Goals (SDGs) in our CSR reporting.
More specifically, Technicolor policies and practices prohibit the use of child labor, forced labor, human trafficking and modern slavery, and of any form of discrimination and harassment in its operations and its supply chain, and require its suppliers to comply with our standards. The resulting governance processes have helped to place Corporate Social Responsibility at the heart of our business approach, and ensure that commercial needs are appropriately balanced with those of local communities, the environment, our business partners and of course our workforce.
Diversity, Equity and Inclusion are key for all businesses of the Group in order to reflect the societies we serve and where we operate, to foster our creativity, and to promote an equitable approach. We aim to recruit and retain the most talented people from a broad range of disciplines and experiences, regardless of race, gender, sexual orientation, religion, ethnicity, national origin, or ability status. In 2020, several initiatives to promote Diversity, Equity and Inclusion were encouraged locally, and new initiatives are being launched in 2021 to be more inclusive for visible and non-visible minorities. In that respect, worldwide anti-discrimination and anti-harassment training will be delivered to all employees from 2021 on a yearly basis. Also, beyond its commitment to the UNGC, early this year Technicolor endorsed the Women’s Empowerment Principles (WEPs).
Focused on supply chain vigilance, in 2018 Technicolor also added a more systematic risk assessment of suppliers with the implementation of the EcoVadis (an independent global organization allowing companies to assess the environmental and social performance of their suppliers) assessment platform for suppliers, representing a yearly spend of more than €1 million. This category represents more than 90% of the total spend of the Group. Suppliers representing about 81% of total spend in this category of Technicolor’s Supply Chain had already been assessed by EcoVadis by the end of 2020.
Since 2017, Technicolor has been a certified and audited member of the Responsible Business Alliance (RBA), after having successfully implemented its code of conduct throughout the supply chain. RBA membership includes compliance requirements for periodic third party audits of all critical suppliers, with an intense focus on Human Rights.
With respect to climate change and the circular economy, Technicolor is taking steps to fulfill its responsibilities as a global corporate citizen, and is currently preparing its submission for early 2022 of a carbon trajectory to the Science Based Targets initiative (SBTi). In 2020, the Company participated for the thirteenth consecutive year in the Carbon Disclosure Project (CDP). The Group started to implement eco-design guidelines in 2008, and has long taken a positive stance towards environmental issues in the development, manufacture, energy use and ultimate disposal of its products, bringing benefits for both customers and the environment.
Content security and protection, areas where the Group has demonstrated strong expertise since its inception, remain high on the CSR agenda. Technicolor has issued a Security Policy and implemented an internal program to address risks such as content leaks affecting customers (film), suppliers (source code) or employee personal data, as well as to defend its products and systems against cyberattacks, or theft of otherwise valuable intellectual property.
Employee health and safety also remains an important focus, demanding continuous vigilance and innovation to ensure we do everything possible to keep our employees safe.
The outbreak of the Covid-19 pandemic had a very significant impact on our business, with the almost instant halt of several activities. As a direct result of these unprecedented times, where furlough was not possible, we had to make the very difficult decision to significantly downsize our workforce across certain locations, and to launch a voluntary temporary deferral in pay and reduction in working hours initiative for the remaining workforce. During this difficult period, beyond closely monitoring the evolution of the pandemic, we have been able to deploy work-from-home capabilities for 80% of employees who could work remotely, and have maintained our operations wherever possible, taking all appropriate measures to guarantee safety for our employees whilst ensuring the continuity of our activities for our clients. Mental Health awareness programs have been launched, and are now part of our ongoing yearly training.
For the eighth year in a row, an external audit of our social, environmental and societal information reporting took place. Our commitment to align sustainability reporting to the GRI Standards, a worldwide reporting framework on sustainability, relies on diligent data harvesting processes, and audits help us retain focus year after year. Our sustainability report has been prepared in accordance with the GRI Standards: Comprehensive Option. Technicolor thereby demonstrates that its non-financial information and disclosures are exhaustive, and give more control to stakeholders over the transparency, comparability, quality and accountability of the Group’s sustainability data.
All these long-term efforts have been recognized by external and independent agencies. In 2021, Technicolor achieved ISS ESG “Prime” status for the second time. We reached also the ISS “Best-in-class” status and received the ISS QualityScore - the highest rating awarded by ISS - for both our Environmental and our Social Performance. In 2020, for the third year in a row, Technicolor reached the EcoVadis Advanced level for its CSR engagement and was granted a “Gold Medal” based on its CSR Rating. The Group now ranks among the top 3 % of companies rated by EcoVadis in the manufacture of communication equipment industry. Technicolor’s ranking assessed by Gaïa-Ethifinance, a European non-financial research and consulting firm, has steadily improved over the years, reaching number 1 out of 390 companies in the overall ranking in 2020.
Technicolor remains committed to advancing these goals, which are essential to both our business and society.
Chief Executive Officer