MEAN WELL 2022 Sustainability Report Officially Released
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By SDG Group CSO/ Patrick Wang
patrickwang@meanwell.com
Since 2013, MEAN WELL has published Corporate Social Responsibility report every two years, which was officially renamed as the Sustainability Report in 2021. The latest 2022 Sustainability Report was released in April this year. Based on the corporate sustainability management and three dimensions of ESG, it incorporates 9 of the United Nations Sustainable Development Goals (SDGs), showcasing MEAN WELL's efforts and achievements in sustainable development and aiming to deepen the understanding and trust of stakeholders.
The latest report adds some features as follows:
Regarding data disclosure, since MEAN WELL is not a listed company, the previous reporting structure needed to be more perfectly complete. However, a third-party verification procedure has been added to this report, which means that its financial report disclosure is comparable to the standards of listed companies, making information disclosure more transparent. In the significant topic identification section, industry-specific indicators have been added with reference to the Sustainability Accounting Standards Board (SASB) sustainability accounting standards, which can more accurately express the characteristics of the industry. A human rights policy has been added to the sustainability declaration, and future planning will include all supply chains and partners to achieve the SDG industry value network. In addition, it is worth mentioning that MEAN WELL conducted a greenhouse gas and product carbon footprint inventory for the first time in 2022 and has obtained third-party verification statements, taking the first step towards carbon neutrality. Finally, the chapter paging explains the company's journey from the founder's perspective, enabling readers to understand MEAN WELL's corporate culture better.
Sustainability issues will continue to ferment in the future. Through the compilation of the Sustainability Report, we learn with our colleagues about various sustainable problems and concepts of ESG, and we converge to a consensus on carbon reduction. As more and more customers have demanded corporate sustainability policies in recent years, MEAN WELL's sustainable development cannot be delayed. We also invite all ESG corporate partners to join the SDG Sustainable Development Network and receive information on activities and lectures at any time, hoping to integrate upstream and downstream partners to jointly create the SDG industry value network and play a synergistic effect.
The latest report adds some features as follows:
Regarding data disclosure, since MEAN WELL is not a listed company, the previous reporting structure needed to be more perfectly complete. However, a third-party verification procedure has been added to this report, which means that its financial report disclosure is comparable to the standards of listed companies, making information disclosure more transparent. In the significant topic identification section, industry-specific indicators have been added with reference to the Sustainability Accounting Standards Board (SASB) sustainability accounting standards, which can more accurately express the characteristics of the industry. A human rights policy has been added to the sustainability declaration, and future planning will include all supply chains and partners to achieve the SDG industry value network. In addition, it is worth mentioning that MEAN WELL conducted a greenhouse gas and product carbon footprint inventory for the first time in 2022 and has obtained third-party verification statements, taking the first step towards carbon neutrality. Finally, the chapter paging explains the company's journey from the founder's perspective, enabling readers to understand MEAN WELL's corporate culture better.
Sustainability issues will continue to ferment in the future. Through the compilation of the Sustainability Report, we learn with our colleagues about various sustainable problems and concepts of ESG, and we converge to a consensus on carbon reduction. As more and more customers have demanded corporate sustainability policies in recent years, MEAN WELL's sustainable development cannot be delayed. We also invite all ESG corporate partners to join the SDG Sustainable Development Network and receive information on activities and lectures at any time, hoping to integrate upstream and downstream partners to jointly create the SDG industry value network and play a synergistic effect.