Lenovo Group Ltd

The ESG Executive Oversight Committee (EOC) reviews and approves the materiality assessment process and ensures there is alignment with the Company's policies, business strategy, and risk priorities. Details regarding the Company's ESG Governance and the role of the ESG EOC are included in the Governance section of this report. [...] The Company actively manages its relationships with customers, employees, suppliers, investors, regulators, members of the communities in which it operates, and other stakeholders who may be impacted by the organization's ESG performance and whose actions can affect the organization's value. Direct and indirect stakeholder engagement is conducted through regular business practices or through interactions that target key stakeholders. [...] The Company's Chief Corporate Responsibility Officer provides executive leadership for its ESG position, including climate change programs. In addition, the ESG Executive Oversight Committee (EOC), chaired by the Chief Corporate Responsibility Officer, provides strategic direction and facilitates the coordination of ESG efforts across the Company, including proposing recommendations for the effective management of ESG programs. The ESG EOC is comprised of senior management from across the business and functional areas and is chartered to promote a culture that encourages strong ESG performance, including compliance and leadership activities. Regular updates on ESG issues, including updates on topics discussed by the ESG EOC, are also provided to the Board and its Committees from the Chief Corporate Responsibility Officer. Concentrated discussion on ESG issues, including climate change, assists the Board in making the most appropriate decisions and providing oversight based on the long-term risks and opportunities that impact its stakeholders and the business. At least annually, the Board is briefed on the Company's ESG KPIs including the Company's climate strategy and progress towards its climate change mitigation goals. [...] ESG oversight is supported through the Nomination and Governance Committee, which oversees the corporate policies and practices regarding governance and compliance with legal and regulatory requirements. The Audit Committee has a complementary role in the effective management of risks and safeguarding the Company's resources, through oversight of the Internal Audit and Enterprise Risk Management (ERM) systems, both of which support overall ESG risk management practices. The Chief Corporate Responsibility Officer provides executive leadership for the Company's ESG position and ensures regular reports are made to the Lenovo Executive Committee (LEC), the Board and its Committees. The LEC consists of senior management who have delegated authority established by the Chief Executive Officer to manage operational performance, including strategic decisions.

Lenovo's Board of Directors has the highest level of oversight for Environmental, Social and Governance (ESG) performance and reporting and manages this responsibility through the governance structure outlined below. At least annually, the Board of Directors is briefed on climate strategy and progress towards our climate change mitigation goals. Lenovo's Chief Legal & Corporate Responsibility Officer provides executive leadership for Lenovo's ESG position and ensures regular reports are made to the Lenovo Executive Committee (LEC), the Board and its Committees. In addition, the ESG Executive Oversight Committee (EOC) provides strategic direction and facilitates the coordination of ESG efforts across Lenovo, including Lenovo's Climate Change Strategy and Climate Transition Plan. The ESG EOC is comprised of senior management from across the business and functional areas and is chartered to promote a culture that encourages strong ESG performance, including compliance and leadership activities. [...] Lenovo actively manages its response to ongoing energy-related regulatory activities such as updates to emerging protocols and regulations, and industry-related standards. In support of Lenovo's commitment to lower GHG emissions, science-based targets were established to reduce emissions associated with the use of sold products per comparable products (for notebooks, desktops, and servers). Product Development teams are actively investigating and implementing technical enhancements to support power efficiency improvements and track annual performance against the prescribed targets. Additionally, Lenovo will keep driving innovative product energy management features which allow better control of PC and server power consumption, calculate energy savings, and report on the management of energy performance, IT equipment, and devices.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Lenovo's corporate communications procedures require engagement of the Global Director of Environmental Affairs and the Corporate Communications team with regard to external communications/activities involving environmental issues, including climate change. This is a global level process across Lenovo business units and locations at worldwide geographies. As attention on climate change strategy has increased across the business, in FY21/22, the partnership between the Global Environmental Affairs team and the corporate communications team greatly increased. The teams now meet biweekly to discuss current activities. Once monthly the ESG focal on the communications team meets with communications professionals across the Company to educate them on Lenovo's practices, programs, and policies and ensure consistent communication, especially around topics requiring clear and consistent communication such as net-zero. The communication team's ESG focal maintains an ESG messaging house that is available across the Company to assist individuals in using accurate communication that avoids greenwashing and is in sync with Lenovo's established policies and strategies. In between these formal meetings, there are additional communications between Lenovo's ESG comm's focal, Lenovo's Global Environmental Affairs team, and others regarding specific projects and actions involving external communication. Whenever possible the approved messaging in the ESG message house is used to ensure consistency with Lenovo's policies and strategy. If unique messaging is to be developed for a project, the appropriate SMEs from Lenovo's Global Environmental Affairs team are to review the new material for accuracy and consistency. Also, external and internal communications and environmental policy and strategy are discussed with Senior Management at least annually during scheduled environmental management reviews.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes