VTech Holdings Ltd

At VTech, our RMSC is delegated with the authority from the Board to provide vision and strategic direction for our sustainability activities to ensure that we stay on track and in balance with the three sustainability dimensions of economic, environmental and social impacts at all times. The RMSC is also responsible for reviewing our sustainability strategies and improvement activities, assessing how the policies are implemented in achieving the sustainability goals and targets, and monitoring the performance progress on a biannual basis. We also have an escalation process in place to ensure that any identified issues are dealt with at the appropriate level of the Company. [...] Our RMSC has also formed the Sustainability Sub-Committee which comprises key employees from the Company's different product lines and relevant departments, including Group Chief Financial Officer, TEL President, Vice President of ELP Operation, Managing Director of CMS, and the Sustainability team. It has the strategic and operational responsibility to manage sustainability issues while implementing the policies and measures to achieve strategic vision and direction approved by RMSC. It is also responsible for monitoring the progress of our sustainability activities compared with targets in their responsible product lines and functions, evaluating and determining the sustainability investments from economic, environmental and social aspects, and sharing new and significant industry sustainability concerns with the committee members quarterly.

The RMSC has held two meetings during the financial year to review the Group's risk management and internal control systems, and its sustainability strategies, policies and activities. [...] The Data Security Governance Board was established with defined terms of reference reporting to the RMSC. The Data Security Governance Board is chaired by Chairman and Group CEO and comprises the Group President, CMS CEO, TEL President, Group CFO, Co Sec & Head of IA, and Group Chief Information Officer (Group CIO). It is responsible for decision-making, implementation, enforcement, oversight, compliance and periodic review of the Data Security Policy and practices, as well as the cybersecurity risks and mitigation measures of the Group. It also ensures that the Group's data security practices are compliant with international and local laws and regulations, including but not limited to, the applicable privacy ordinances and data protection regulations in the respective countries such as the General Data Protection Regulation in Europe. [...] ESG risk management and opportunities are integrated into our Sustainability Plan 2025. Please refer to pages 41-45 for details of climate-related risks and opportunities.

The RMSC is chaired by Dr. Allan WONG Chi Yun – Chairman and Group Chief Executive Officer (Chairman & Group CEO) with Dr. PANG King Fai – Group President, Mr. Andy LEUNG Hon Kwong – Chief Executive Officer of CMS (CMS CEO), Mr. WONG Kai Man – Independent Non-executive Director (INED), Mr. Hillson CHEUNG Hoi – President of TEL Products (TEL President), Ms. Shereen TONG Ka Hung – Group Chief Financial Officer (Group CFO) and Mr. CHANG Yu Wai – Company Secretary and Head of Internal Audit (Co Sec & Head of IA), as members – a combination of Executive Directors an INED and senior management [...] As part of its process to review the effectiveness of the risk management and internal control systems, the Company maintains the Risk Register to record the major and identifiable risks in the critical functions in the operation of the Company. The Risk Register is reviewed by the RMSC twice a year. At management level, department representatives of each key business unit/function maintain a risk register documenting the key risks and the mitigation measures of the relevant risk. To facilitate the review of the Risk Register by the RMSC, the Internal Audit Department will review the operation of the risk management framework, including the effectiveness of reporting to the appropriate management levels, and the [...] The RMSC has held two meetings during the financial year to review the Group's risk management and internal control systems, and its sustainability strategies, policies and activities. [...] The Data Security Governance Board was established with defined terms of reference reporting to the RMSC. The Data Security Governance Board is chaired by Chairman and Group CEO and comprises the Group President, CMS CEO, TEL President, Group CFO, Co Sec & Head of IA, and Group Chief Information Officer (Group CIO). It is responsible for decision-making, implementation, enforcement, oversight, compliance and periodic review of the Data Security Policy and practices, as well as the cybersecurity risks and mitigation measures of the Group. It also ensures that the Group's data security practices are compliant with international and local laws and regulations, including but not limited to, the applicable privacy ordinances and data protection regulations in the respective countries such as the General Data Protection Regulation in Europe. [...] The Data Security Governance Board has held two meetings during the financial year. It has reviewed and monitored the implementation and execution of the Data Security Policy and practices of the Group for the compliance with the latest privacy ordinances and data protection regulations in the respective countries. It has also reviewed the implementation progress of the additional preventive measures, technologies enhancement and staff trainings for the mitigation of cybersecurity risks of the Group. In addition, the Data Security Governance Board has reviewed and monitored the remedial actions of the identified security related issues which have been brought to its attention.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Meetings are held by the Sustainability Sub-Committee every quarter to review if the activities that influence policy are consistent with our overall climate change activities.
Association list:
British Toy & Hobby Association -member of committee
Dutch Toy Association -member of committee
French Toy Association -member of committee
Toy Association Belgium -member of committee
China Toy & Juvenile Products Association -member of committee
Australian Toy Association -regular member
German Toy Association -regular member
Spanish Toy Association -regular member
Toy Industry Association – United States -regular member
Toy Association – Shenzhen, China -regular member
Canadian Toy Association -regular member
DECT Forum -strategic participation
ULE Alliance - strategic participation
EcoVadis -regular member
SD Card Association -regular member
Wi-Fi Alliance -regular member
Sedex -regular member
Hong Kong Opto-Mechatronics Industries Association -regular member
The Chinese Manufacturers Association of Hong Kong -regular member
The Hong Kong General Chamber of Commerce-regular member

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]No, and we do not plan to have one in the next two years