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Case study

LandMark Optoelectronics case study

EOS Insight
28 November 2022 |
Since our engagement, the company produced its first Corporate Social Responsibility (CSR) report and started to report against the key pillars of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The company set short-, medium-, and long-term emission targets and committed to carbon neutrality by 2050.
LandMark Optoelectronics case study

LandMark Optoelectronics engages in the research, design, manufacture, and sale of laser epitaxial wafers and optoelectronics wafers. It specialises in the manufacture of wired communications machinery and equipment, and electronic components.  

We started our engagement with LandMark Optoelectronics on climate data disclosure and target-setting in 2018 by regularly meeting with the CFO. We requested the company starts collecting and reporting ESG progress annually and suggested it refer to the CDP climate change survey framework for disclosure.  

In 2019, we urged that the process of determining a long-term target should start as soon as possible and be given sufficient resources, instead of its current approach of only setting yearly incremental emissions reduction targets. We also suggested it further examine peer companies’ disclosure and explore purchasing green energy to reduce its Scope 2 emissions. In 2021, we encouraged more detailed disclosure about risk and financial impact and how this links to strategy. We shared information about science-based targets, as well as several TCFD examples. 

In terms of outcomes, in 2018 the CFO shared with us that the board had approved allocating dedicated resources for corporate sustainability purposes and that the company will disclose greenhouse gas emissions information in its next annual report.  

Over the course of 2019 to 2022, the company enacted various improvements. These included issuing its first CSR report, establishing a corporate sustainability committee at the board, and taking steps to install solar panels on its newly built factory’s rooftop. In addition, the company disclosed its first short-term climate target in June 2021 by committing to reduce greenhouse gas emissions intensity by 6% by 2025.  

At a meeting in June 2022, the chair and CFO shared that the board had decided to commit to carbon neutrality by 2050. In its latest sustainability report published in the same month, it further disclosed its medium- and long-term climate targets. The company confirmed that its carbon footprint verification and a carbon management plan will be finalised by the end of 2022, and it will further improve its TCFD reporting in the 2023 sustainability report. The CFO also confirmed that a submission to Science Based Targets initiative (SBTi) is also part of the company’s next three-to-five-year plan.  

We welcomed the company’s new climate commitment and will continue to engage with the company on board gender diversity, its alignment to the Paris Agreement goals (or further 1.5°C alignment), improvement of TCFD reporting and its supply chain climate readiness. 

Read the case study here.

LandMark Optoelectronics case study

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