Guided by the Fujifilm Group’s corporate philosophy and vision, we strive to foster an open, fair and clear corporate culture and drive sustainable growth with integrity supported by good corporate governance.
The management team is responsible for shaping FUJIFILM Business Innovation Hong Kong’s corporate governance practices. As such, continuous efforts and progress have been made by the Senior Management Committee (SMC) which consists of the Managing Director and five department heads, comprising four males and two females from different disciplines that help maintain a diverse range of voices. The members meet monthly to discuss and review FUJIFILM Business Innovation Hong Kong’s operation and develop future business plan.
SMC kick-started the new era of FUJIFILM Business Innovation on 1 April 2021.
To further strengthen our governance structure and facilitate the development of guidelines, policies and procedures, the Management Review Committee was established in accordance with the ISO 14001 Environmental Management System, ISO 50001 Energy Management System, ISO 22301 Business Continuity Management System, ISO/IEC 27001 Information Security Management System, 5S and FSCTM Chain of Custody (CoC). The committee reviews the overall effectiveness of our systems regularly to support continuous performance improvement. Meanwhile, collaborations and committees at operational level have been formed to ensure the implementation of various management systems.
The governance structure of FUJIFILM Business Innovation Hong Kong
Aiming to prevent any misconduct or major violations of the law through an open, fair and clear corporate culture, we require all colleagues to read and understand the Fujifilm Group Charter for Corporate Behaviour and Code of Conduct when they join the company and receive anti-corruption and related compliance training regularly. Besides, a whistle-blowing policy and mechanism for reporting fraud and misconduct have been in place for years.
We aligned our disclosure practices with global trend and compliance requirements, such as the recommendations of Task Force on Climate-related Financial Disclosures (TCFD). According to the framework, “Governance”, “Strategy”, “Risk Management” and “Metrics and Targets” have been applied to all business units of FUJIFILM Business Innovation Hong Kong. The following table illustrates our approach to each of the areas.
|Key Areas||Our Approach|
Members of the Risk Management Committee deliberate on the risks and opportunities presented by climate change and report to the SMC. Their climate-related responsibilities include:
The General Manager, Corporate Quality and Sustainability is responsible for overseeing our sustainability and climate-related governance and leading the coordination of our CSR initiatives. Plans and communications related to climate-related issues are reported regularly to the SMC and our regional headquarters.
Risks and opportunities brought by climate change are identified over the short-term (0 to 5 years), medium-term (5 to 10 years), and long-term (10 years and beyond).
Our operations could be directly impacted by frequent short-term business disruptions caused by severe weather or natural disasters, such as flooding and typhoon in locations where we operate. These events could impair our ability to provide effective support services to our customers, to control the operating costs, and to meet the revenue and market share targets.
As our products, spare parts and consumables are supplied by overseas manufacturing plants, our supply chain may be impacted by severe weather events and other unexpected events, such as COVID-19.
It is expected that climate related regulations and standards, either mandatory or voluntary, addressing energy use and greenhouse gas (GHG) emissions reduction will be tightened in the short-term. If we fail to comply with regulations on product energy efficiency, it will lead to an increase in operating cost.
We enjoy unique competitive advantages with our document management expertise, innovative technologies and service excellence. However, such advantages could be affected by climate-related customer behavioural changes, such as printing less and going paperless. The awareness of environmental protection and climate change has been on the rise globally, creating a higher demand for low or zero carbon products. Consumers and other stakeholders also expect businesses to minimise their carbon footprint and to help their partners reduce adverse environmental impact throughout the product lifecycle. If we fail to recognise this expectation, our reputation could be undermined, leading to deteriorated brand value and eventually loss of sales and market share.
In light of the tighter regulations and standards on energy efficiency and pollution management, the heightened consumer awareness created an opportunity for Fujifilm Group to launch the “Green Value Products”, a certification programme to certify its group-wide products and services, ensuring that they meet the stringent criteria on environmental consciousness. As a benchmark in the industry, this programme allows us to showcase our sustainable offerings that adhere to the rigorous standards from manufacturing to end-of-life disposal and our leadership as an industry pioneer. It also helps us attract more environmentally conscious customers and sequentially increase our revenue.
One of the most important components of our business strategy is to create value for our customers and other stakeholders by enhancing the sustainability benefits of our services through innovation. We offer more sustainable and energy-saving digital printing and document management solutions to improve our customers’ environmental performance and mitigate climate change. For example, our Next Generation Managed Print Services optimises the number of multifunction printers and expands the user-to-device ratio.
The more efficient and effective processes in our business operations have helped us achieve the emissions reduction targets within our company and supply chain and consequently reduce the electricity costs.
One of our long-term strategies is to create shared value for our customers and other stakeholders through our printers and services. As such, we capture the strategic growth opportunities through innovations that simplify, automate and optimise business processes using cloud and AI technology.
Climate Scenario Planning:
Led by the Fujifilm Group, this scenario analysis assesses the potential long-term business implications of direct and indirect transition and physical climate-related risks and opportunities. As an active response to anticipated risks and opportunities, it has been integrated into our business strategy and enterprise risk management processes to ensure our business resilience. The analysis also covers our key locations and operations in Hong Kong, focusing on a range of potential climate-related and long-term physical risks and transition risks.
Since Hong Kong and Macau are more vulnerable to flooding after typhoon and heavy rain that may disrupt our service delivery and support, the analysis assesses our asset-level risk exposure to flooding and extreme weather. Resilience measures, such as a contingency supply chain plan managed under the ISO 22301 Business Continuity Management System, are implemented.
Our risk management framework with long-term targets covers various climate-related risks, supporting Fujifilm Group’s SVP 2030.
In accordance with the ISO 14001 Environmental Management System, we have been assessing the impact of our business activities from two perspectives: “compliance with laws and regulations” and “impact on the environment”. We were the first company in Hong Kong to receive the newly launched ISO 14001 : 2015 Environmental Management System certification in 2015. We also obtained the latest ISO 50001 : 2018 Energy Management System certification in 2019. Guided by the ISO 20400 Sustainable Procurement - Guidance published in 2017, we also manage our supply chain and actively integrate sustainability into the procurement process. The adoption of these management systems has enabled us to manage our day-to-day climate-related risks.
Metrics and Targets
Committed to the Science Based Targets Initiative, the Fujifilm Group aims to reduce its carbon dioxide (CO2) emissions by 45% across the entire product lifecycle by FY2030. Besides, adhering to the RE100 initiative, the Fujifilm Group also strives to convert 100% of its purchased electric power to renewable energy by FY2050.
According to the SVP 2030, FUJIFILM Business Innovation Hong Kong has been adopting and advocating various sustainability initiatives to address environmental issues, such as implementing the daily “earth hour” during lunch break, zoning lighting devices and adopting iESG, our self-developed ESG data management tool. In FY2020, we reduced our CO2 emissions by 13.7% annually and maintained our commitment to be a carbon neutral operation by purchasing 715 tonnes of carbon offsets and supporting renewable energy projects in Southeast Asia.