2.2.1 Materiality Analysis Procedures
According to GRI 3: Material Topics 2021 of the GRI Universal Standards 2021, VisEra adopted the economic, environmental, and human-social (human rights) impact assessment methodologies developed by the Value Balancing Alliance (VBA), Harvard Business School's Impact-Weighted Accounts research program, and Business for Societal Impact (B4SI) to establish an impact-based materiality analysis process, identify critical issues for VisEra, and determine the boundaries and scope of sustainable information disclosure. This process also serves as the basis for setting long-term corporate sustainability objectives. In the process of drafting the 2022 Corporate Sustainability Report, we gathered feedback from 455 external stakeholders to learn about their concerns for VisEra's sustainability issues. When measuring the impact of sustainability issues on operations, 48 executives and employees participated in determining the significance of each sustainability issue to operations. We identified 12 material sustainability issues from the 24 sustainability issues and set medium and long-term sustainability management objectives. During the Sustainable Development Committee meeting in 2023, we decided to conduct a comprehensive investigation and assessment process every two years regarding significant thematic scopes. In 2023, the committee maintained the 12 major themes identified in the previous year while considering issues of particular concern to stakeholders such as the parent company (TSMC), investors, and customers. Additionally, our company identified "Geopolitics" as a new major theme through the Risk Map method of Enterprise Risk Management (ERM). Therefore, adding geopolitics as a significant theme for 2023. Our company continues identifying and assessing the impacts of relevant issues on its operational activities in order to prepare for and prevent potential responses and impacts.
Phase 1: Inclusiveness
We compiled a list of 24 sustainability issues of concern to VisEra and accounted for international standards and regulations, sustainability investment ratings, and communication with stakeholders in the global semiconductor industry.
Phase 2: Materiality
VisEra uses the information in the stakeholder viewpoints, impact on VisEra operations, and impact sustainable development for the materiality analysis in the 2023 Sustainability Report. To obtain the opinions of different stakeholders, we used a questionnaire for the materiality survey and focused on influential stakeholders that have frequent interactions with VisEra. In terms of materiality, VisEra followed the requirements in the GRI Standards and determines the significance of issues based on the level of stakeholders' concern and impact on company operations. We also encouraged employees to identify the impact of each issue on the Company's operations and determine the significance of the issue.
Phase 3: Responsiveness
We expanded to the needs and expectations for disclosure of sustainability information of different stakeholders based on materiality analysis results and the themes and indicators in the GRI Standards. VisEra enhances the transparency of sustainability issues on different communication platforms including sustainability reports and company websites. The disclosure includes policies, organizations, methodology, effectiveness, and objectives.
Phase 4: Impact
We considered VisEra's business strategy, potential opportunities and risks in future operations, and the sustainability goals of the parent company (TSMC), defining 13 major issues as VisEra's priorities for promoting corporate sustainability. We set sustainability management goals, and regularly track and review the achievement of these goals in meetings.
Sustainability impact review procedures
Note: The major topic identification process was continued from the pervious year. For the relevant information for ESG sustainability impact review procedures, please refer to 2022 ESG Report/Chapter 2. Implementation of Sustainability Management/2.2 Materiality Analysis and Stakeholder Communication.
Material topics ranked by VisEra
Note: The major topic identification process was continued from the pervious year. For the relevant information for ESG Material topics ranked, please refer to 2022 ESG Report/Chapter 2. Implementation of Sustainability Management/2.2 Materiality Analysis and Stakeholder Communication.
Relationship between major topics and VisEra's value chain (I)
Relationship between major topics and VisEra's Sustainable Development Goals (II)
2.2.2 Stakeholder Communication
VisEra defines stakeholders as groups or organizations that affect or are affected by the Company. We identified seven major categories of stakeholders through the five principles of the AA1000 Stakeholder Engagement Standard (SES) (dependency, responsibility, influence, diverse perspectives, and tension.). We separate stakeholders into two major groups based on the manner of influence (direct or indirect). Direct stakeholders include the parent company, investors, employees, customers, and suppliers/contractors. Indirect stakeholders include society and governments. VisEra chooses different ways of stakeholder engagement based on the nature of the stakeholders, the issues of concern, and the purpose of the engagement.
