Sustainability policies, plans and results are regularly reported to the Board
In order to implement the concept of sustainable development and improve the Company’s operating system to achieve sustainable development in the three major areas of environmental protection, social responsibility and corporate governance, the Sustainable Development Committee was established under the Board of Directors in November 2023 in accordance with the provisions of the Corporate Governance Best Practice Principles for TWSE/TPEx Listed Companies Article 27. The two functional groups, the Sustainable Development Team and Risk Management Team were integrated under the Committee.
 
Since 2022, the GHG inventory results and finalized sustainability report have been set to be regularly presented to the Board. In 2023, climate change was added as a key issue, of which the factors such as its impacts and extent of existing sustainability issues were reviewed. The major impact scope of the existing procedures was assessed and revised, and their major environmental and social impacts were brought under supervision of the Board. In 2023, the Sustainable Development Team and Risk Management Team, which were assigned to undertake relevant assignments in WT, submitted nine proposals for discussion and approval and presented nine reports in total to the Board. The finalized sustainability report is to be verified externally, and submitted to the Board for discussion and publication approval in 2024.
 

 

 

Managing impacts of material sustainability issues
WT has procedures in place requiring the policies, planning and implementation of specific matters in the course of operation to be, regularly or occasionally, presented or submitted to the Board of Directors for discussion. For example, Articles 10 and 12 of the Rules of Procedure for Board of Directors’ Meetings and Articles 25 and 35 of the Corporate Governance Best Practice Principles clearly stipulate the types of matters that must be discussed or resolved by the Board. Article 8 of the “Sustainable Development Best Practice Principles” requires the proposals and implementation of sustainable development policies, systems, management guidelines, and specific implementation plans to be presented to the Board on an occasional basis. In addition, the Ethical Corporate Management Best Practice Principles and the Procedures for Ethical Management and Guidelines for Conduct specify that the formulation of ethical operation policies and prevention plans, any major violations determined by investigation, or any major losses caused to the company must be presented to the Board.

According to applicable laws and regulations or internal procedures, items need to be adopted by resolution of the Board are submitted for “discussion,” while those do not require to be adopted by resolution of the Board are submitted for “report”. After being signed and approved by senior management, an item is added by the Secretariat of the Board to the agenda of next Board meeting for the Board to make a resolution in the case of a discussion item, or raise questions or made suggestions in the case of a report item. A total of 55 major resolutions were adopted by the Board in 2023, all of which have been published in the Major Resolutions of Board Meetings on the WT’s official website.