Statement on extra-financial performance
With deeply humane values and stable family ownership, Virbac offers a range of products and services covering the majority of species and animal pathologies. Based on both technological advances and customer feedback, Virbac innovation relies on production facilities that meet the highest international quality standards. Through its personal relationship with veterinarians, farmers and owners in each country, Virbac helps to create lasting growth for all of its stakeholders.
Virbac initiated a strategic reflection about CSR (Corporate social responsibility), and conducted an analysis of materiality in order to assess the Group’s key issues in terms of sustainable development, particularly with regard to the social and environmental consequences of activity, effects of activity on human rights, and the fight against corruption and tax evasion.
To do this, Virbac used a third-party expert, who directed the analyses and assessments. This matrix was updated in 2018.
This analysis was carried out using a methodology involving factual analysis of credible external and internal sources:
Based on a materiality threshold defined at the confluence of internal expectations (impact of the key challenges on Virbac’s activity and business model) and external expectations (importance of the stakeholders’ expectations), the results were summarized and submitted to the chairman of the executive board for approval. A consulting company specialized in nonfinancial reporting that assisted throughout the entire process guaranteed its independence and objectivity.
It should be noted that the areas required by the statement on extra-financial performance (social & societal, human rights, business ethics and environment) were reviewed during interviews.
Virbac has always had a reasonable fiscal policy aimed at ensuring the interests of shareholders while maintaining a relationship of trust with the countries in which we operate. Central and local financial teams, with the support of a tax advisor, are committed to complying with national and international tax obligations. Also reviewed were SEFP-related topics that, given our activity, do not concern us, particularly actions to combat food waste, food insecurity, and to respect responsible, fair and sustainable nutrition.
Those topics deemed the most material are reflected in detail through the four key challenges as documented in the sections below.