GRI Content Index

Global Reporting Initiatives (GRI) Content Index

We are on an important journey related to our sustainability reporting metrics, with a mission of aligning with global reporting initiatives (GRI) standards. GRI is the most widely used set of standards for sustainability reporting worldwide. It helps organizations assess and take actions that create economic, environmental, and social benefits while providing a common global language to communicate progress and impacts.  

Please review the information below for an important framework designed to bring consistency, clarity, and rigor to our sustainability strategies, goal setting, performance monitoring, and reporting.  

GRI STANDARD Disclosure Sentence / paragraph on the disclosure
2-1 Organizational details Please refer to the company’s website: https://www.valentbiosciences.com/about/. Also check our parent company’s website at https://www.sumitomo-chem.co.jp/english/company/.
2-2 Entities included in the organization’s sustainability reporting Valent BioSciences, Mycorrhizal Applications (MA) and FBSciences.
2-3 Reporting period, frequency and contact point Data presented in this report relates to our 2023 fiscal year (April 01, 2023 to March 31, 2024) unless otherwise specified.
2-4 Restatements of information Not applicable, none to date
2-5 External assurance Consolidated with Sumitomo Chemical Group.
2-6 Activities, value chain and other business relationships Valent BioSciences has partnerships with universities, research institutes, and pertinent associations. Examples are the Donald Danforth Plant Science Center, EcoVadis, Field to Market.
2-7 Employees Refer to 2023 Sustainability Report. Employee Safety, Employee Engagement and DEI. Approximately 320 employees are employed across Valent BioSciences.
2-8 Workers who are not employees About 4% of our workforce is contractors, who are either contracted through an agency or support us via our payroll (limited).
2-9 Governance structure and composition The governance structure follows what is needed for an LLC, comprising of the senior leadership team, which operates under the oversight of the board of directors. https://www.valentbiosciences.com/leadership/.
2-10 Nomination and selection of the highest governance body The board of directors is selected by Sumitomo Chemical Co., Ltd. The CEO is selected by the board of directors. Other senior leadership team members are selected by the CEO in consultation with the board of directors.
2-11 Chair of the highest governance body Nobuaki Mito
2-12 Role of the highest governance body in overseeing the management of impacts The senior leadership team monitors all operations and is alerted when topics are not following our ethics and compliance codes. The CEO decides when a critical topic needs to be discussed with the board of directors.
2-13 Delegation of responsibility for managing impacts Delegation of responsibility for managing impacts is structured based on the severity of the issue, starting with the board of directors for high-impact situations. For moderate impacts, the senior leadership team takes charge, while the management team handles day-to-day operations and corrective actions for lower-level impacts.
2-14 Role of the highest governance body in sustainability reporting The senior leadership team reviews sustainability reports to ensure they align with the organization’s strategic goals and accurately reflect its environmental and social impacts. This review process helps validate the integrity and completeness of the reporting before it is finalized and presented to the board of directors and other stakeholders.
2-15 Conflicts of interest Valent Group Code of Ethics (2023). 3. Conflict of Interest.
2-16 Communication of critical concerns Valent Group Code of Ethics (2023). Speak Up Policy and Open Door Policy.
2-17 Collective knowledge of the highest governance body Information Unavailable
2-18 Evaluation of the performance of the highest governance body Information Unavailable
2-19 Remuneration policies –
2-20 Process to determine remuneration –
2-21 Annual total compensation ratio This is reviewed annually during merit planning.
2-22 Statement on sustainable development strategy Refer to 2023 Sustainability Report: Our Path Forward.
2-23 Policy commitments The Valent group of companies has established clear and accessible policies for all employees, covering the code of ethics, guidelines for pay and time off, provisions for contingent workers, policies regarding leave of absence, procedures for sick time, regulations concerning substance abuse and testing, protocols for handling reasonable suspicion incidents, a structured profit-sharing plan, and a company bonus plan. These policies reflect the Valent group of companies’ commitment to transparency, fairness, and employee well-being across its operations. These are all in line with our parent company, Sumitomo Chemical Co.
2-24 Embedding policy commitments The Group Company Compliance Officer, in collaboration with the Compliance Committee, is responsible for embedding policy commitments across the organization. This partnership ensures that regulatory standards are consistently met and that any compliance issues are effectively addressed.
2-25 Processes to remediate negative impacts To remediate negative impacts, the Compliance Committee first reviews the details of the of violation.
2-26 Mechanisms for seeking advice and raising concerns The Compliance Committee oversees mechanisms for seeking advice and raising concerns, ensuring that all negative impacts, including ethics violations and chemical exposure issues, are addressed. Employees can utilize various channels such as the “Open Door Policy” or the “Speak Up Policy” to raise concerns, with assurances that there will be no adverse consequences for those who report issues.
2-27 Compliance with laws and regulations We are in compliance with all relevant laws and regulations, ensuring that our operations adhere to legal and regulatory standards.
2-28 Membership associations We are a member of the Biological Products Industry Alliance (BPIA).
2-29 Approach to stakeholder engagement Our approach to stakeholder engagement ensures that all public interactions are conducted in full compliance with external regulations and internal policies, maintaining transparency and upholding our organizational standards.
2-30 Collective bargaining agreements None
GRI 3: Material Topics
 3-1 Process to determine material topics A sustainability committee and a broader stakeholder evaluation of materiality will be conducted and reported for FY2024.
3-2 List of material topics See 3-1
3-3 Management of material topics See 3-1
GRI 201: Economic Performance 201-1 Direct economic value generated and distributed Valent BioSciences’ financial results are consolidated into Sumitomo Chemical Co.’s overall financial results.
201-2 Financial implications and other risks and opportunities due to climate change Climate change directly impacts agriculture, forestry, and public health, so it can potentially impact our business in a positive or negative way, depending on how plant diseases, pests, crops, and insect vectors of disease respond to climate adaptation.
201-3 Defined benefit plan obligations and other retirement plans Detailed described to employees at the hiring orientation.
201-4 Financial assistance received from government None
GRI 202: Market Presence 202-1 Ratios of standard entry level wage by gender compared to local minimum wage –
202-2 Proportion of senior management hired from the local community –
GRI 203: Indirect Economic Impacts 203-1 Infrastructure investments and services supported Refer to Valent BioSciences 2023 Sustainability Report – Environmental Stewardship.
203-2 Significant indirect economic impacts In a few less populated locations like Osage, IA, and Grants Pass, OR, USA, our operations directly impact local jobs and education opportunities in a positive manner.
GRI 204: Procurement Practices 2016 204-1 Proportion of spending on local suppliers Domestic suppliers account for 49% of our total expenditure.
GRI 205: Anti-corruption 205-1 Operations assessed for risks related to corruption Valent Group Code of Ethics (2023). 10. Anti-Corruption.
205-2 Communication and training about anti-corruption policies and procedures Valent Group Code of Ethics (2023). 10. Anti-Corruption. E-learning and in-person training.
205-3 Confirmed incidents of corruption and actions taken None
GRI 206: Anti-competitive Behavior 206-1 Legal actions for anti-competitive behavior, anti-trust, and monopoly practices None
GRI 207: Tax 207-1 Approach to tax Our approach to tax is to fully comply with all relevant laws and regulations.
207-2 Tax governance, control, and risk management Our approach to tax is to fully comply with all relevant laws and regulations.
207-3 Stakeholder engagement and management of concerns related to tax None
207-4 Country-by-country reporting In accordance to country by country tax laws.
GRI 301: Materials 301-1 Materials used by weight or volume The organization has comprehensive data on materials used by weight or volume and will convert this information into percentage calculations for FY24, enhancing clarity and insight.
301-2 Recycled input materials used The organization estimates that its corrugated boxes and other corrugated paper materials, such as partitions and slip sheets, have an average recycled content of 52%.
301-3 Reclaimed products and their packaging materials –
GRI 302: Energy 302-1 Energy consumption within the organization Our energy consumption data is collected by the environmental, health, and safety team and submitted to the Sumitomo Chemical Co. for the ESG report. This year, we also used an additional template to calculate Scope 1, 2, and 3 emissions.
302-2 Energy consumption outside of the organization Information Unavailable
302-3 Energy intensity Information Unavailable
302-4 Reduction of energy consumption Refer to Valent BioSciences 2023 Sustainability Report – Environmental Stewardship.
302-5 Reductions in energy requirements of products and services Refer to Valent BioSciences 2023 Sustainability Report – Environmental Stewardship.
GRI 303: Water and Effluents 303-1 Interactions with water as a shared resource Information Unavailable
303-2 Management of water discharge-related impacts We have established a pre-treatment agreement with the city of Osage, IA. This agreement outlines the protocols and standards for pre-treating water before discharge, ensuring that our operations comply with local regulations and minimize environmental impact.
303-3 Water withdrawal Refer to Valent BioSciences 2023 Sustainability Report – Water and Wastewater Quality. Osage Environmental Performance Resource reductions per batch since 2017.
303-4 Water discharge Not applicable
303-5 Water consumption Refer to Valent BioSciences 2023 Sustainability Report – Water and Wastewater Quality. Osage Environmental Performance Resource reductions per batch since 2017.
GRI 304: Biodiversity 304-1 Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas None
304-2 Significant impacts of activities, products and services on biodiversity The company’s biological products, ranging from crop protection to crop enhancement solutions, influence biodiversity in various ways. These products can impact ecosystems through their effects on plant health, pest populations, and soil quality. By enhancing crop resilience and promoting sustainable agricultural practices, the company contributes positively to biodiversity.
304-3 Habitats protected or restored Valent BioSciences 2023 Sustainability Report – Environmental Stewardship.
304-4 IUCN Red List species and national conservation list species with habitats in areas affected by operations None
GRI 305: Emissions 305-1 Direct (Scope 1) GHG emissions Refer to the Valent BioSciences 2023 Sustainability report for sections on Sustainability Goals, Impacts, and Direction, Environmental Stewardship, and Sustainable Sourcing. Our GHG emissions data, collected by our environmental, health, and safety team, is consolidated into the Sumitomo Chemical Co. ESG report.
305-2 Energy indirect (Scope 2) GHG emissions
305-3 Other indirect (Scope 3) GHG emissions
305-4 GHG emissions intensity Information Unavailable
305-5 Reduction of GHG emissions Follow regulations in each country with product sales.
305-6 Emissions of ozone-depleting substances (ODS) Information Unavailable
305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions Information Unavailable
GRI 306: Waste 306-1 Waste generation and significant waste-related impacts In 2023, Valent BioSciences Osage underwent a major facility expansion, including increased capacity for production-scale fermentation and recovery equipment, a new pilot plant facility, as well as a new laboratory, office, maintenance, and warehouse areas. The construction of these projects increased the amount of landfilled waste at the facility and this was directly addressed.
306-2 Management of significant waste-related impacts Waste is managed through various streams, including external vendors and our wastewater treatment system.
306-3 Waste generated We track all waste amounts, with data collected by the environmental, health, and safety team and submitted to the Sumitomo Chemical Co.
306-4 Waste diverted from disposal Waste is managed through various streams, including external vendors and our wastewater treatment system.
306-5 Waste directed to disposal Waste is managed through various streams, including external vendors and our wastewater treatment system.
GRI 308: Supplier Environmental Assessment 2016 308-1 New suppliers that were screened using environmental criteria Refer to Valent BioSciences 2023 Sustainability Report – Sustainable Sourcing.
308-2 Negative environmental impacts in the supply chain and actions taken Refer to Valent BioSciences 2023 Sustainability Report – Sustainable Sourcing.
GRI 401: Employment 401-1 New employee hires and employee turnover Given the size of our employee population, new employee hires and employee turnover are tracked annually.
401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees In most cases, temporary and part-time employees are not qualified for the same benefits provided to full-time employees.
401-3 Parental leave The information is listed in the employee handbook.
GRI 402: Labor/Management Relations 402-1 Minimum notice periods regarding operational changes We have very few changes to this scale that require a notice period.
GRI 403: Occupational Health and Safety 403-1 Occupational health and safety management system All employees are required to participate in our Responsible Care (RC) software and track participation on their personal scorecard. We provide training and track all engagement in RC activities.
403-2 Hazard identification, risk assessment, and incident investigation When incidents are reported in the RC software, a risk matrix determines if an investigation is required. The environmental health and safety manager for the site leads the investigation and creates appropriate corrective actions.
403-3 Occupational health services The organization has arrangements in its emergency plans for all hospitals, urgent care providers, and emergency contacts.
403-4 Worker participation, consultation, and communication on occupational health and safety See 403-1
403-5 Worker training on occupational health and safety See 403-1
403-6 Promotion of worker health Promoted at least monthly in various emails, events, and articles.
403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships Includes use of inspections and observations to meet our requirement of continuous improvement and tracking corrective actions and tasks.
403-8 Workers covered by an occupational health and safety management system All.
403-9 Work-related injuries Work Comp is coordinated with Mitsui Sumitomo Insurance Group (MSIG). Employees are required to visit a healthcare center for evaluation, treatment, and return to work.
403-10 Work-related ill health Work Comp is coordinated with Mitsui Sumitomo Insurance Group (MSIG). Employees are required to visit a healthcare center for evaluation, treatment, and return to work.
GRI 404: Training and Education 404-1 Average hours of training per year per employee This is tracked formally in Navex.
404-2 Programs for upgrading employee skills and transition assistance programs
404-3 Percentage of employees receiving regular performance and career development reviews All employees have set goals and receive performance reviews.
GRI 405: Diversity and Equal Opportunity 405-1 Diversity of governance bodies and employees Refer to Valent BioSciences 2023 Sustainability Report – Employee Engagement and DE&I.
405-2 Ratio of basic salary and remuneration of women to men
GRI 406: Non-discrimination 406-1 Incidents of discrimination and corrective actions taken Information Unavailable
GRI 407: Freedom of Association and Collective Bargaining 407-1 Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk None to date
GRI 408: Child Labor 408-1 Operations and suppliers at significant risk for incidents of child labor None to date
GRI 409: Forced or Compulsory Labor 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor None to date
GRI 410: Security Practices 410-1 Security personnel trained in human rights policies or procedures Security policies are covered by our team and include VGC-POL-RC008 Physical Security Policy and VGC-POL-RC-009 Access Control and Visitor Management Policy.
GRI 411: Rights of Indigenous Peoples 411-1 Incidents of violations involving rights of indigenous peoples None to date
GRI 413: Local Communities 413-1 Operations with local community engagement, impact assessments, and development programs Refer to Valent BioSciences 2023 Sustainability Report – Environmental Stewardship.
413-2 Operations with significant actual and potential negative impacts on local communities None to date
GRI 414: Supplier Social Assessment 414-1 New suppliers that were screened using social criteria None
414-2 Negative social impacts in the supply chain and actions taken None
GRI 415: Public Policy 415-1 Political contributions None
GRI 416: Customer Health and Safety 416-1 Assessment of the health and safety impacts of product and service categories This is a company routine, as products must go through safety evaluation for all countries we register in.
416-2 Incidents of non-compliance concerning the health and safety impacts of products and services Quality assurance picks-up non-compliant products before sales happen. Company also evaluates customer complaints twice a year, in addition to addressing them as they occur.
GRI 417: Marketing and Labeling 2016 417-1 Requirements for product and service information and labeling Follow regulations in each country with product sales.
417-2 Incidents of non-compliance concerning product and service information and labeling None
417-3 Incidents of non-compliance concerning marketing communications None
GRI 418: Customer Privacy 2016 418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data None to date as we avoid taking personal information from customers. Reporting on our website.