FY24 Stakeholder Engagement Report
We believe business success begins with collaborative relationships inside and outside Logitech. Collaboration is key to creating shared value that builds a more inclusive and equitable society. We engage openly with our stakeholders and work to anticipate and respond to stakeholder needs.
Transparency and engagement in all aspects of business align with our company culture of being open and ourselves, and collaborative in our way of working. We foster working environments where perspectives, experiences, and insights can be shared, to help us understand stakeholder needs and continually evolve and improve. We gain valuable insight through regular engagement with stakeholders. These engagements build our collective understanding of the challenges facing people and the planet, as well as helping us to identify and prioritize our material issues and provide insights into emerging opportunities.
This report covers the reporting period of 01 April 2023 to 31 March 2024.
The document was prepared in accordance with GRI reporting requirements, as summarized below.
2-28 Membership associations | The organization shall: a. report industry associations, other membership associations, and national or international advocacy organizations in which it participates in a significant role |
2-29 Approach to stakeholder engagement | The organization shall: a. describe its approach to engaging with stakeholders, including: i. the categories of stakeholders it engages with, and how they are identified. ii. the purpose of the stakeholder engagement. iii. how the organization seeks to ensure meaningful engagement with stakeholders. |
It includes a summary of Logitech’s:
To understand how stakeholder engagement activities informed progress and performance during the reporting period, please refer to Logitech’s FY24 Impact Report.
When we identify key stakeholder groups, we consider five key attributes, which are shown in the following box.
Dependency | Groups or individuals who are directly or indirectly dependent on Logitech’s activities, products or services and associated performance, or on whom Logitech is dependent in order to operate. |
Responsibility | groups or individuals to whom Logitech has, or in the future may have, legal, commercial, operational or ethical responsibilities. |
Tension | Groups or individuals who need immediate attention from Logitech regarding financial, wider economic, social, or environmental issues. |
Influence | Groups or individuals who can have an impact on Logitech’s or a stakeholder’s strategic or operational decision-making. |
Diverse perspectives | Groups or individuals whose different views can lead to a new understanding of relevant situations and the identification of opportunities for action that may not otherwise occur. |
For the purpose of reporting, we cluster our stakeholders into six broadly recognized stakeholder groups. These groups comprise groups and individuals that meet one or more of the above attributes and can reasonably be expected to be impacted by our activities, products, and services, or to take actions that affect our ability to implement strategy and achieve objectives successfully.
Functions across Logitech manage and interact with stakeholders and key stakeholder groups in various ways. Regular engagements include the bi-annual employee LogiPulse survey, supplier audits, and an annual shareholder meeting. Other engagements are ongoing, such as conversations with customers about our sustainability performance, collaboration with industry peers on specific programs, and discussions with policymakers.
We conduct an annual External Factors Review (EFR), reviewing publicly available information to identify concerns or perceptions about our approach to sustainability management, risks, and performance. Our EFR process includes market intelligence and key insights gathered by functions across Logitech through direct engagement with all stakeholder groups throughout the year. The following table summarizes a selection of stakeholder engagement activities in FY24.
Table A FY24 Stakeholder Engagement Activities
STAKEHOLDER GROUP | MECHANISMS OF ENGAGEMENT | EXAMPLES OF ENGAGEMENT ACTIVITIES AND TOPICS OF ENGAGEMENT |
Customers |
| Consumers:
Enterprise Customers:
|
Employees |
| We endeavor to create an open-door environment, where employees feel they can interact at every level. Employee engagement across the company is supported in a number of ways.
|
Logitech’s Board of Directors |
|
|
Regulators and policy makers |
|
|
Shareholders |
|
|
Special Interest Groups |
|
|
Our Industry |
| We engage with companies within and outside our value chain to share our learnings and catalyze the adoption of positive change across our industry.
|
Our stakeholder engagement activities have given us valuable insight into the following areas of stakeholder interests.
Customers
| Employees
|
Shareholders
| Our Industry
|
Regulators and Policymakers
| Special Interest Groups
|
As industry leaders, we believe open and transparent sharing of our experience can help lawmakers craft effective and responsible regulations that govern our business and help our customers. As responsible corporate citizens, we also choose to proactively engage on policy issues that align with our values. Logitech is just one small piece of a much larger global puzzle and we believe we should share our experience and knowledge to help inform effective policy on a global scale; establishing standards that can promote action, clarity, and stability as we move us all toward a more sustainable world.
We scale our efforts to achieve maximum impact through direct action, coalition building, collective action, or supporting the efforts of those aligned with our values but better able to influence a favorable outcome.
Strategic priorities are set by our Chief Legal Officer and Chief of Operations, which fosters collaboration between our Head of Policy, Head of Sustainability and Deputy General Counsel and Chief Compliance Officer to find ways to meaningfully contribute to policies that support the Paris Agreement. The Head of Policy and Head of Sustainability propose policy directions in support of the Paris Agreement which are reviewed and approved by the CLO & COO.
In 2019, we committed to the Paris Agreement to limit global warming to 1.5°C by 2050. With our newest Climate Pledge, we have committed to SBTi-validated carbon reduction targets and a net zero target to unpin that commitment and clearly communicate our position and action in support of the Paris Agreement.
We have a Public Affairs Engagement framework that clearly outlines roles, responsibilities and decision-making flows in relation to our engaging activities to ensure all our activities are reflective of our public policy positions and support the goals of the Paris Agreement. We do not support or fund political party candidates or groups that promote party interests. Our spend is limited to the payment of membership fees to organizations like ITIC and also consulting firms who we work with to advocate for, and positively influence, the development of policy and regulation that supports more sustainable business practices and a 1.5 degree world. When choosing organizations to work with and causes to support we consider a range of factors including business impact, our values, the expertise we can offer and the impact potential of our actions.
We carry out due diligence reviews and monitoring to ensure we do not support organizations or public policy engagements that undermine the Paris Agreement. This approach helps to ensure we do not join or support trade associations that do not share our values and selectively choose to support organizations and causes that are aligned with our public policies, our position on climate change and the Paris Agreement.
We report on our policy advocacy activities (directly and via trade associations) in our annual Impact Report and/or annual Stakeholder Engagement Report. Please see Table A above.
Appendix A Data
TABLE 1 CUSTOMER AND EMPLOYEE SATISFACTION
Units | Coverage | FY21 | FY22 | FY23 | FY24 | |||||
Our Global NPS score for customer interactions | # | Global | 30 | 29 | 48 | 47 | ||||
Employee Happiness Index | # | Global | - | 77 | 75 | 75 |
TABLE 2 POLITICAL CONTRIBUTIONS AND SPENDING ON LOBBYING AND TRADE ASSOCIATIONS
Units | CY24 | |||
Political contributions by, or on behalf of, Logitech | % | 0 | ||
Trade association membership and consultant fees | # | 1,395,375 |
Appendix B External Initiatives and Memberships
We believe collaboration across our sector and multi-stakeholder engagement is required to catalyze society’s transition to a more sustainable future. In recent years we have taken a more overt approach to demonstrating our commitment to sustainability. We have strengthened our existing involvement in external initiatives and membership associations and adopted a number of new membership initiatives and reporting standards. A full description of the initiatives and associations we currently participate in and some of our key reporting standards are provided below.
Initiatives and memberships | What these partnerships mean for us | |
The Carbon Disclosure Project (CDP) is an international organization providing a global, standardized system for companies to disclose and share carbon, energy, and environmental information. | We leverage the CDP platform to report our energy and climate performance publicly, through the Climate Change questionnaire and to respond to customers via the CDP Supply Chain questionnaire. By sharing our performance in this best practice way, we work to galvanize sector-wide transparency and credibility. | |
The Coalition for Gender Fair Procurement launched in June 2022 and is an alliance of like-minded organizations seeking to promote gender fairness. It is based on the UN Women’s Empowerment Principles and members are asked to inspire sustained positive progress towards UN Sustainable Development Goal 5 (Gender Equality) in their own organization and across all industries and organizations. | Our goal is to contribute to an industry-wide change in procurement practices whereby all organizations assess all their high-impact suppliers for gender fairness and make spend decisions accordingly. To provoke this industry-wide change, we need allies. We are therefore advocating for other like-minded organizations to join us in creating the "Coalition for Gender Fair Procurement”. | |
Design for Good is a nonprofit alliance of leading global organizations that will directly harness the creative talent of thousands of designers to design and deliver positive impact towards the United Nations’ Sustainable Development Goals, on a scale only possible through global collaboration. | Logitech became a cofounding member in April 2022, sharing the mission to harness design as a way of enacting measurable positive change in support of the United Nations’ Sustainable Development Goals (UN SDGs). | |
| The U.S. Environmental Protection Agency (EPA) established the Green Power Partnership (GPP) in 2001 to protect human health and the environment by increasing organizations’ voluntary green power use, to advance the American market for green power and the development of renewable electricity sources. Find out more about the benefits of green power: www.epa.gov/greenpower | Using 100 % renewable electricity for our U.S. offices helps reduce air pollution and lower our carbon footprint, while also sending a message to others across the country that green power is an affordable, accessible choice. |
The First Movers Coalition is a public-private partnership initiated to drive demand for innovative clean technologies and address climate change. Launched by the World Economic Forum and the U.S. Department of State, the coalition brings together leading companies committed to purchasing and promoting advanced technologies aimed at decarbonizing heavy industry and long-distance transportation sectors. By aggregating demand, the coalition aims to accelerate the development and deployment of these essential green technologies, fostering a market for innovations critical to achieving net-zero emissions by 2050. | Logitech joined the First Movers Coalition to signal the demand for emerging technologies that are essential for a net zero transition. Developing low-carbon and circular metals for our products is a crucial part of our Design for Sustainability approach and strategy for reducing our carbon impact and creating more circular business models. By joining the First Movers Coalition, we become part of a wider ecosystem that aims to advance low-carbon technologies that are crucial to reducing global emissions quickly. | |
ForestNation helps companies, organizations and individuals engage with, and participate in, reforestation activities. ForestNation also helps companies communicate the impact of their activities. | We partner with ForestNation to activate employees around tree planting and celebrate Earth Day. This partnership has created a Logitech Forest of trees in Tanzania, which is represented virtually online here. | |
Girls Who Code is a nonprofit organization that aims to support and increase the number of women in computer science by equipping young women with the necessary computing skills to pursue 21st-century opportunities. | In FY24, we continued our partnership with Girls Who Code, in support of their mission to help young girls discover a passion for engineering and creativity through a series of collaborative actions. In addition to financial donations, we will again host a Girls Who Code Summer Immersion Program, virtual sessions, events for students, and provide internship opportunities, and more. | |
The Global Reporting Initiative (GRI) is a nonprofit organization that promotes one of the world’s most prevalent standards for sustainability reporting—the GRI Standards. | We use GRI standards to ensure our reporting is transparent, credible, and reflective of good practice reporting standards. | |
The Information Technology Industry Council (ITI) is an advocacy and policy organization for the technology sector. Through its regional and topic-specific committees, ITI provides members with information, insights, and diverse perspectives on developing policy frameworks and regulatory changes around the world. | We participate in ITI’s regional committees and topic-specific committees on Environmental Policy, Environment and Sustainability, Privacy and Cybersecurity, Energy Efficiency, Procurement, Product Stewardship and Regulatory Policy. | |
The mission of the National Veteran-Owned Business Association (NaVOBA) is to create opportunities for companies to connect with Veteran Business Enterprises (VBEs) and Service-Disabled Veteran Business Enterprises (SDVBEs). NaVOBA provides VBEs and SDVBEs with tools, support, and connections, to help them access the business world through networking and training events, certification, advocacy, outreach, recognition, and education. | Our NaVOBA membership creates opportunities for us to connect with Veteran Business Enterprises and Service-Disabled Veteran Business Enterprises that are equipped to support our business strategies and create opportunities for collaboration and diverse supplier engagement. | |
NextWave Plastics is a member-led, collaborative and open-source initiative of leading multinational companies who are working to develop the first global network for socially responsible ocean-bound plastic supply chains. | In 2022 Logitech joined NextWave Plastic to contribute our perspective and help drive transformational change towards next life and circular supply chains. | |
The National LGBT Chamber of Commerce (NGLCC) is an advocacy organization dedicated to expanding economic opportunities and advancements for LGBTQ people, and a certifying body for LGBTQ-owned businesses. | Our membership helps us reach LGBTQ-owned businesses that can support us, as well as those that need assistance to get their businesses to the next growth level. | |
The National Minority Supplier Development Council (NMSDC) matches certified minority-owned business enterprises in the United States with corporate member companies and builds minority business enterprise (MBE) capacity and capabilities through programs and other educational offerings. | Through our membership of the NMSDC, we connect with minority-owned business enterprises across the U.S. to diversify our supplier base. | |
The Organisation for Economic Co-operation and Development (OECD) is an international economic body of 37 countries dedicated to stimulating economic progress and world trade. The OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas sets out best practice guidance for companies to respect human rights and avoid contributing to conflict through their mineral purchasing decisions and practices. | We follow the OECD due diligence guidelines for supply chain due diligence specifically around minerals from conflict-affected and high-risk areas. | |
The Responsible Business Alliance (RBA), (formerly The Electronic Industry Citizenship Coalition (EICC)), is a nonprofit coalition of companies committed to improving social, environmental, and ethical conditions in their global supply chain. The RBA Code focuses on priority issues for the RBA membership including labor, environment, health and safety, ethics, management systems and human rights. | We joined the RBA in 2007 and our commitment to the RBA Code drives our business, sustainability, and supply chain strategy. It informs decision-making and is reflected in our internal policy framework, standards, audit processes, and contractual agreements with suppliers. | |
The Responsible Labor Initiative (RLI) is a multi-stakeholder initiative launched by the RBA, which is focused on ensuring that the rights of workers vulnerable to forced labor in global supply chains are consistently respected and promoted. | Through our membership of the RLI, we gained access to the RLI Responsible Recruitment Due Diligence Toolkit to drive and inform responsible recruitment across Logitech and our supply chain. | |
The Responsible Minerals Initiative (RMI) is an industry initiative focused on responsible mineral supply chain of conformant smelters and refiners for tin, tungsten, tantalum, and gold. The RMI developed the Responsible Minerals Assurance Process (RMAP), which includes tools for members to use and leverages independent, third-party audit processes to identify conflict-free smelters and refiners. | Through our membership of the RMI, we gained access to tools and resources for our Responsible Sourcing of Minerals Due Diligence program, including the Conflict Minerals Reporting Template, Reasonable Country of Origin Inquiry data, and a range of guidance documents supporting responsible minerals sourcing. | |
The Responsible Factory Initiative (RFI) provides a framework for factories to advance their performance beyond RBA code compliance and establish their facility as a Factory of Choice. | Through our membership of the RFI, we look to advance our own production facility and supplier facilities to achieve RFI certification through RBA Code Compliance, leadership training, and employee engagement. | |
Renewable Energy 100 (RE100) is a global initiative led by The Climate Group in partnership with the Carbon Disclosure Project (CDP). RE100’s mission is to accelerate a global shift to clean energy and zero carbon grids—delivering a cleaner, healthier future for all. RE100 membership comprises the world’s largest businesses who work together to advocate for 100 % renewable electricity worldwide, in the shortest time line possible. They work in partnership with others to address policy and market challenges. | We joined the RE100 initiative in November 2019 to collaborate with other industry leaders in pursuit of the global movement to catalyze the uptake of 100 % renewable electricity. | |
The mission of the Sustainability Accounting Standards Board (SASB) is to establish and improve industry-specific disclosure standards across financially material environmental, social, and governance topics that facilitate communication between companies and investors about decision-useful information. | We are working towards full alignment with SASB standards to enable transparency, credibility, and accountability in reporting for our U.S. investors, in particular. Our commitment to SASB Standards is evidenced on the SASB website. | |
The Science Based Targets Initiative (SBTi) is a partnership between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). SBTi defines and promotes best practice in science-based target setting with the support of a Technical Advisory Group. Signatories are required to set ambitious and meaningful carbon reduction targets, which are independently assessed to verify alignment with the newest science and recommendations from the Intergovernmental Panel on Climate Change (IPCC). | By joining SBTi, we commit to a science-based approach to climate action and ambitious, best-practice reduction targets for our Scope 1, 2, and 3 emissions. In our specific case, we have committed to the ambitious 1.5 degree pathway and have established Scope 1, 2 and 3 reduction targets including a renewable electricity target for our own operations and a net zero target. | |
Sustainable Brands (SB) is a global community of brand leaders who are tapping environmental and social challenges to drive innovation, business, and brand value. | We joined the Sustainable Brands community in August 2021 to help support awareness of today’s pressing social and environmental issues, drive engagement, and collaborate with other brands in the co-creation of solutions. | |
SB Brands for Good is a movement initiated by Sustainable Brands that uses the voices of brands and companies to demonstrate and encourage sustainable behavior. | We joined the Brands for Good Initiative within the Sustainable Brands community in August 2021 with the aim of harnessing the power of our collective brand influence to make sustainable living accessible, inspirational and rewarding. We are also committed to working with consumers to drive behavioral change at scale. | |
The United Nations Sustainable Development Goals (SDGs) are a call to action for bold breakthroughs across 17 development areas, by the year 2030. The aim of the SDGs is to push multi-stakeholder collaboration to improve quality of life, protect the environment, and foster equitable growth. | In FY19, we pledged to support the SDGs and recognize their strategic importance to our business and to the world. Our Materiality Assessment process helps us to identify the key areas of material importance to our business and stakeholders, and where we need to report. Each of the material aspects that we report on has linkages to the SDG goals. Please refer to our FY24 Impact report for information on how our programs align with the SDG’s. | |
The Task Force on Climate-Related Financial Disclosures (TCFD) pioneered the development of disclosure recommendations to guide voluntary, consistent, climate-related financial risk disclosures by companies, to provide information to investors, lenders, insurers, and other stakeholders. The TCFD recommendations consider the physical, liability, and transition risks associated with climate change and what constitutes effective financial disclosures across industries. | We are working towards full alignment with TCFD recommendations with the disclosure of relevant information in our annual CDP Report and Impact Report. Our commitment to TCFD is evidenced on the TCFD website. | |
The Task Force on Nature-Related Financial Disclosures (TNFD) pioneered the development of disclosure recommendations and guidance that provides a framework for businesses to assess, report, and act on their nature-related dependencies, impacts, risks, and opportunities. | We are working towards full alignment with TNFD recommendations, with the disclosure of relevant information in our annual Impact Report. Our commitment to TNFD is evidenced by our membership of the TNFD forum. | |
The United Nations Global Compact (UNGC) is a nonbinding United Nations pact to encourage businesses worldwide to adopt sustainable and socially responsible policies and to report on their implementation. The Ten Principles of the UNGC cover human rights, labor, environment, and anti-corruption. | Our UNGC Commitment Letter is available on our website. The Ten Principles of the UNGC are also reflected in the RBA Code of Conduct, which we are already a signatory to (RBA Commitment Statement). With our annual Impact Report, we provide a Communication on Progress with respect to human rights, labor, environment and anti-corruption. Please refer to the About this Report section of our Impact Report to review our UNGC Content Index. | |
The U.S. Pan Asian American Chamber of Commerce (USPAACC) is a large, nonprofit organization representing Pan Asian Americans and their related groups in business, sciences, the arts, sports, education, public and community services. USPAACC aims to create a single, unified voice for equal opportunity for Asian American businesses and to collaborate with other large, medium, and small businesses for mutually beneficial growth in the domestic and global economy. | Partnering with USPAACC gives us the opportunity to engage with the Asian American business community and their unique expertise in IT, research, advertising, media, and a plethora of programs designed to support their members and companies like Logitech. Logitech is a Corporate Brain Trust member of this organization and sits on the Board of its SouthEast Region. Last year, we also contributed to this organization’s scholarship program. | |
The Valuable 500 was launched in Davos in 2019 as a campaign to get 500 national and multinational, private-sector corporations to be the tipping point for change and help unlock the social and economic value of people living with disabilities across the world. | We joined The Valuable 500 in 2020. Being a member means that we have committed to having disability inclusion on our business leadership agenda. Our commitment to the Valuable 500 is evidenced on their website | |
The Women’s Business Enterprise National Council (WBENC) is the largest certifier of women-owned businesses in the U.S. and a leading advocate for women business owners and entrepreneurs. | Through our membership of WBENC, we are working to develop our Supplier Diversity Program and connect with women-owned businesses across the U.S. to diversify our supplier base. | |
WEConnect International is a global network that connects women-owned businesses to qualified buyers around the world. | Through our membership of WEConnect, we are working to develop our Supplier Diversity Program and connect with women-owned businesses across the globe to diversify our supplier base. |
FY24 Stakeholder Engagement Report Page