Corporate sustainability information reveals rapid progress, but a recent sustainability evaluation of 100 companies in Asia-Pacific showed that Singaporean companies overtook Taiwan to take first place, while our country fell to second place.
The CSRone Sustainability Think Tank and National Chengchi University's Xinyi College released their 2022 "Taiwan and Asia-Pacific Sustainability Report: Current Status and Trends." The report notes that despite a growing consensus on the international carbon market, over 80% of Taiwanese companies have yet to conduct carbon footprint audits. The research team advises companies to accelerate carbon reduction efforts or risk losing international orders.
The Asia-Pacific "Sustainability Temperature Index" has been released, with Singapore surpassing Malaysia for the first time.
The 2022 "Taiwan and Asia-Pacific Sustainability Report Status and Trends" covers ten Asia-Pacific countries, including Taiwan, Japan, Singapore, South Korea, and Australia, and analyzes the top ten companies in each country. The research team takes the ESG (environment, society, and corporate governance) perspective as the starting point, using eight sustainability issues such as energy conservation and carbon reduction, employee care, and social investment as analysis indicators [1]. Through the information disclosed by companies online, the degree of investment in sustainability is evaluated. In addition, due to the international trend of net zero carbon emissions, the research team specially set four indicators this time to understand the response and disclosure of companies to the "carbon issue."
Chen Houru, Vice President of Operations at CSRone, a sustainability think tank, noted that the report compiled 685 sustainability reports published by Taiwanese businesses, universities, and non-profit organizations, with a special focus on analyzing 653 reports issued by businesses. The analysis revealed that as of the end of December 2021, the top five countries in the "Sustainability Temperature Index" among the ten Asia-Pacific countries were Singapore, Taiwan, Thailand, Australia, and South Korea.
At the "8th Taiwan Sustainability Report Analysis Conference" held on the 25th, Chen Yiling, Chief Secretary of the Ministry of Economic Affairs, stated that to accelerate Taiwan's progress toward its 2050 net-zero carbon emissions goal, the Ministry of Economic Affairs has been continuously assisting businesses in reducing their reliance on fossil fuels through various aspects of industry and business models. Furthermore, "sustainable transition is a marathon-like challenge" that must also consider social justice for the coexistence and prosperity of society as a whole.
93 companies have released sustainability reports, but 80% still haven't conducted carbon footprint audits.
In recent years, Taiwanese companies have responded to international initiatives and proactively addressed government-imposed carbon reduction regulations. A report shows that 93 companies have voluntarily published sustainability reports, demonstrating their commitment to proactive preparation and preparation. However, nine of the top 100 companies by revenue have yet to publish sustainability reports, leaving them vulnerable to the ESG trend.
In addition, according to the report statistics, among the sustainability reports published by Taiwanese companies in 2021, more than 80% of companies (524) have completed greenhouse gas inventories; but similarly, more than 80% (541) of companies have not yet conducted an inventory of the carbon footprint of their activities or products throughout their entire life cycle.
The Financial Supervisory Commission (FSC) has successively announced the "Corporate Governance 3.0 - Sustainable Development Blueprint" and the "Sustainable Development Roadmap for Listed Companies." These regulations require listed companies with over NT$2 billion in capital to prepare sustainability reports starting in 2023. They will also require listed companies to complete greenhouse gas inventories in four phases, based on their paid-in capital. All listed companies must complete carbon inventories by 2027 and greenhouse gas inventories by 2029.
However, the research team stated that achieving carbon neutrality remains highly complex for businesses, and tracking their carbon footprint is even more challenging. The evaluation also revealed that Taiwanese companies consistently ranked among the top three in Asia-Pacific countries in terms of internal carbon pricing information, carbon trading information, and carbon rights disclosure. However, they reported relatively little on the internationally recognized "carbon neutrality" initiative.
Source: Environmental Information Center (https://e-info.org.tw/node/233704)