Chapters
Annual Report 2020

Definitions Table

Definitions
C

Carbon footprint

An indicator that measures the total carbon emissions emitted by GrandVision. It shows the environmental impact and the contribution to climate change. The carbon footprint as measured in this report comprises the total carbon emissions of transportation (in and outbound) and processing (cutting and edging) at manufacturing sites.

CEO

Chief Executive Officer

CFO

Chief Financial Officer

CSI

Concentrated spend index is a relative indicator that measures the concentration of spending on (strategic) suppliers.

CSR

Corporate Social Responsibility

E

ETR

Effective tax rate is a relative indicator that divides income tax by total pre-tax results.

Employees (FTEs)

Total number of full-time equivalents of GrandVision employees during a reporting year.

Employees (headcounts)

Total number of unique GrandVision employees during a reporting year.

Energy efficiency

A relative indicator that measures the amount of energy required to process one spectacle at a manufacturing site. It is calculated by the total amount of energy used by all manufacturing sites divided by the total number of processed spectacles in the reporting year.

Environmental Impact

The impact that an organization has on the environment. This can be in terms of emissions, water use, energy use and waste. GrandVision discloses emissions, water use and energy efficiency.

ESG

Environmental, Social and Governance

F

FTE

Full-time equivalent is a unit that indicates workload. One FTE equals the workload of one employee who works 40 hours per week for one year.

G

GRI

Global Reporting Initiative

I

ILO

International Labor Organization

K

KPI

Key performance indicator

L

LED

Light-emitting diodes are an energy efficient light source.

M

Manufacturing sites

GrandVision has 17 manufacturing sites, made up of TechCenters and an RFH. These sites are strategically-located across countries where we are present and produce a high-quality end product.

Materiality

The degree to which an issue is important for GrandVision and its stakeholders.

N

NGO

Non-Governmental Organization

O

OECD

Organization for Economic Co-operation and Development

R

Regional Fulfilment Hub (RFH)

Highly-automated, strategically-located manufacturing site where GrandVision processes spectacles (cutting and edging, etc.).

S

SDG

Sustainable Development Goal

T

TechCenter

Manufacturing site where GrandVision processes spectacles (cutting and edging, etc.).

Training hours

The total number of hours spent on training the total workforce in the reporting year.

Transportation

The transportation process from production facilities to cross-docks, manufacturing sites and retail brands.

Transportation inbound

The transportation process from production facilities to our cross-docks.

Transportation outbound

The transportation process from our cross-docks to our manufacturing sites and retail brands.

U

UDHR

Universal Declaration of Human Rights

W

Water efficiency

A relative indicator that measures the amount of water required to process one spectacle in a manufacturing site. It is calculated by the total amount of water used by all manufacturing sites, divided by the total number of processed spectacles in the reporting year.