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Our Sustainability Report Sustainability Report Financial Year 2019/20 Wonderful Sound for All Contents 2 WS Audiology Sustainability Report 2019/20 Table of contents 03 Introduction 17 People 27 Business ethics and compliance 04 CEO letter 19 Diversity & Inclusion 28 Anti-corruption 06 At a glance 19 Employee engagement 28 Anti-competitive behavior 07 Business model 20 Child labor and forced labor 29 Grievance mechanism 08 Sustainability strategy 20 Freedom of association and 30 Supplier code of conduct and WS Audiology joined UN 09 Sustainability goals collective bargaining due diligence Global Compact in 2020 10 Responsible business 20 Health and safety 31 Product safety, marketing, and labelling 11 Sustainability targets and highlights 20 Human rights impact assessment 32 Data privacy and cyber security 21 Local community engagement 13 Creating positive impact 33 Governance and Materiality Assessment 14 Raising awareness and breaking barriers 34 Governance 16 Innovate for all markets 35 Materiality Assessment and Stakeholder Engagement 39 Factbook 40 ESG Performance 45 GRI index sheet 52 Assurance letter by third party 22 Planet 24 Clean Production 25 Product design Follow us 26 Circular business model 26 Greenhouse gas emissions Intro – Cover 3 WS Audiology Sustainability Report 2019/20 Introduction 04 CEO letter 06 At a glance 07 Business model 08 Sustainability strategy 09 Sustainability goals 10 Responsible business 11 Sustainability targets and highlights Intro – CEO letter CEO letter 4 WS Audiology CEO letter Sustainability Report 2019/20 Unlocking human potential by making wonderful sound part of everyone’s life 5 WS Audiology CEO letter Sustainability Report 2019/20 WS Audiology is an with hearing aids. We have now set We are committed to the Ten Prin- the target to have served at least 20 ciples of the United Nations Global ambitious company million people with hearing aids by Compact (UNGC). We actively con- with a dedicated team 2025. tribute to the UN Sustainable Goals We have set clear ESG and of people all over the (SDGs). An essential part of our sustainabili- sustainability goals. We have world who want to bring ty strategy is to increase awareness, We have set clear ESG and sustain- dedicated people. And we wonderful sound to all. access, and affordability. Many ability goals. We have dedicated have an inspiring purpose. That is our purpose, and people are not aware enough of the people. And we have an inspiring importance of good hearing, for purpose. As CEO of WS Audiology I As CEO of WS Audiology I it drives us in everything their mental health for instance. And feel the responsibility on my shoul- feel the responsibility on my we do. the stigma of wearing hearing aids ders to make this all happen. And I sometimes holds them back, even am grateful that the owners of WSA shoulders to make this all if they are aware. We are already support and stimulate us to achieve It is our goal to become an industry working on this by designing more our objectives as fast as possible. happen. leader and with that ambition comes attractive looking hearing aids. In a lot of responsibility: for our people, many places in the world people We owe this to our customers, our their jobs, our strategy, our financial have no access to hearing aids, while people, our families, our children. health, and the company culture. To- the need is very high. And for a lot of day, that is no longer good enough. people hearing aids are not afforda- We must all change, and we must do ble. It is our ambition to change that it quickly. That is our commitment To become a true leader, we must in line with our purpose. as WS Audiology, that is my personal also lead in sustainability. We have commitment. set the objectives to become the Another top priority is the environ- most environmentally friendly ment. We are committed to increas- hearing aid company, the most ing the share of renewable electricity diverse hearing aid company and and to be carbon neutral by 2025. the hearing aid company that serves the most people, doing more than And we will continue to further di- Eric Bernard anyone else to realize our purpose. versity. Of course, diversity is meant in the broadest sense, but special President and CEO Since the merger between Widex attention will be given to gender 30 June 2021 and Sivantos over two years ago, we diversity. have served over 5 million people Intro – Introduction Introduction 6 WS Audiology Introduction Sustainability Report 2019/20 At a glance WS Audiology is a global leader in the hearing aid industry. We help millions of people regain and benefit from the miracle of hearing by designing and manufacturing innovative hearing aid devices and services. We improve people’s health, well-being, and quality of life as we strive to unlock human potential by making wonderful sound part of everyone’s life. Through our global customer network of thousands of hearing care providers, as well as through our own retail, we help increase the awareness of hearing challenges and facilitate access to WS Audiology is Our Since the inception of WSA until professional care. headquartered in Denmark and the end of the reporting year Singapore and has more than 5 2020, we have sold hearing aid main production devices to 11,000 sites are in Denmark, employees in Singapore, China, 3.9 million Poland and the of people in more than 43 Philippines. countries. 130 countries. Countries with main production Countries with our presence Countries we serve with our hearing solutions Intro – Business models 7 WS Audiology Introduction Sustainability Report 2019/20 WSA Business Models WSA Product Brands We have multiple, mutually reinforcing business Broad product portfolio, models to support the hearing impaired and hearing managed independently care providers. with clearly distinct value propositions Wholesale Own Retail Stores Online Managed Care Diagnostics • Independents • Retail chains • Governments • Optical Intro – Sustainability strategy 8 WS Audiology Introduction Sustainability Report 2019/20 Sustainability strategy Our sustainability strategy is driven by impact We strive to make wonderful sound part of everyone’s life and contrib- ute to the health and well-being of millions of people while growing our business. We aim to reduce inequal- ity by ensuring access to affordable 3.9 hearing care. Moreover, we raise awareness of hearing health as a million global challenge and break down the stigma around wearing hearing aids. people with hearing loss were served with our We are committed to creating a hearing aids since the positive impact for all employees inception of WSA to the of WS Audiology. After establishing end of the reporting year WS Audiology through a merger of 2020. two companies, we embarked on a culture journey to define our core See page 42 for account- values, and it is crystal clear that ing principles. diversity and inclusion are key for us to be successful. We want to minimize our nega- tive impact on the environment by reducing energy and resource consumption, waste generation and Wind turbine at our overall CO2 emissions. HQ in Lynge, Denmark Sustainability goals 9 WS Audiology Introduction Sustainability Report 2019/20 Sustainability goals We actively contribute to the following Sustainable Development Goals (SDG) and specific targets: Goal 1: Goal 2: Goal 3: Awareness Accessibility Affordability We make people aware of hearing We make it easy to get hearing We bring relevant hearing solutions health and hearing solutions that fit solutions wherever people are. to all people, through technology personal needs. and commercial innovation. 3 .8 See page 37 5 5 . 3 5 5 . 3 for details 1 1 1 2 1 2 .6 2 .4 .2 Goal 4: Goal 5: 8.8 Diversity & inclusion Environment 8.7 8.5 We foster the inclusion of people with diverse views, We take care of the planet we live on, and we therefore opinions, and backgrounds. evolve towards circular business models. United Nations Sustainable Development Goals Intro – Responsible business 10 WS Audiology Introduction Sustainability Report 2019/20 Responsible business Sustainability is in everything we do Employee Talent attraction, development, We continue to ensure responsible engagement and retention business conduct. We make sure we are compliant with laws and have special attention for human rights, We ensure a high workplace satisfaction and actively en- We attract, develop, and retain the talents who are the key labor rights, and anti-corruption. gaged employees, while reducing employee turnover. drivers to deliver on our purpose. Human rights & Supplier code of conduct labor rights and due diligence We respect human rights. This is fundamental We ensure our suppliers live up to our expectations to our way of doing business. related to environment, human rights, labor rights and business ethics. Business ethics & Governance & anti-corruption accountability We are committed to working against corruption in all We set up a strong sustainability governance to ensure the its forms, by always acting professionally, fairly and with sustainability programs are anchored in the organization. integrity. Intro – Sustainability targets 11 WS Audiology Introduction Sustainability Report 2019/20 Sustainability targets and highlights KPI Baseline Targets Accumulated Accumulated KPI Baseline Targets number number Awareness Additional people 1.1 million (by 2020) 500 million (by 2030) Diversity and Gender in Group 8% that become aware inclusion Management Team 30% of hearing loss 2020 2025 through Shoebox 70% online and offline 92% screening Gender in Global Leadership Team 28% 35-40% Accessibility People served with 3.9 million (by 2020) 20 million (by 2025) 2020 2025 hearing devices 72% 60-65% Gender in 45-50% Managerial Roles Affordability People served with 725,000 (by 2020) 4 million (by 2025) 38% (Managers with affordable hearing 2020 2025 direct reports) 62% devices Female 50-55% Male See page 42 for accounting principles.
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