In response to the “ESG and Sustainability Initiative” of E.SUN Financial Holding Company (E.SUN FHC), TCI pledged to achieve net-zero carbon emissions by 2040 and proactively respond to climate action with carbon inventories, reduction measures, and carbon neutrality.
On August 18, E.SUN Bank held a press conference for the “E.SUN ESG and Sustainability Initiative,” inviting TCI and over 100 companies to advocate for ESG sustainability publicly. President Tsai Ing-wen attended the event as well.
The “E.SUN ESG and Sustainability Initiative” is a joint initiative of E.SUN Bank and 32 like-minded companies that started in 2021 by signing the “Sustainability Initiative.” The initiative extends to 2022, with 101 companies joining the sustainability initiative, including industry leaders, quality companies, and hidden champions, with total revenue of NT$5.08 trillion, accounting for about 23% of Taiwan’s GDP in 2021 and jointly setting a target of reducing carbon by at least 1.57 million metric tons by 2025.
Of the 101 companies participating in the initiative, including TCI, 46 companies have committed to achieving net zero emissions by 2050. President Tsai Ing-wen’s speech stated that the government announced the 2050 net zero carbon emissions roadmap, 12 key strategies, and integration of inter-ministerial resources in March this year (2022). The key is to allow existing technologies to maximize the effect of carbon reduction. Once Taiwan’s net zero technology matures in the future, new industries will emerge, including energy storage, smart grid, and others.
Since 2018, TCI has conducted annual organizational greenhouse gas inventories at its Pingtung Rock Factory per the “Greenhouse Gas Protocol (GHG Protocol),” including direct emissions (Scope 1) and indirect emissions (Scope 2). In addition, TCI shall conduct inventories of other indirect emission sources (Scope 3) in 2022 and obtain ISO 14064-1 third-party verification.
In the face of a climate emergency, TCI took practical actions to pass the SBTi audit on the carbon reduction target by 2021. TCI commits to targeting a 51% absolute reduction in Scope 1 and 2 by 2030, with 2018 as the base year, and a whole 15% total reduction in “purchased goods and services” of Scope 3. Thus, hoping that controlling greenhouse gas emissions will mitigate global warming and subsequent environmental impacts.
To reduce sustainability risks along the supply chain and enhance the overall sustainability of the value chain, TCI provides suppliers with a complete ESG self-assessment form. The self-assessment form includes questions on environmental-related data and management plans, human rights, and regulatory compliance to help the Company evaluate its suppliers’ economic, social, and environmental sustainability and use it as a vital score in supplier evaluations. In the future, TCI shall reduce the emissions of Scope 3 through supplier selection and negotiation mechanisms.
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