Sustainability Challenges and Opportunities in a Time of Uncertainty
In 2023, global risk uncertainties increased, with the gradual impact of the COVID-19 pandemic, the prolonged Russia-Ukraine war, geopolitical economic conflicts, global high inflation, misinformation and disinformation, imbalances in food and energy supply, extreme weather events causing natural disasters, and insufficient progress in climate change mitigation. These seemingly individual events are interconnected, forming a complex global risk landscape.
A complicated and changing global risk profile with emerging variability became the new normal in the world.
In 2023, as WT celebrates its 30th anniversary, we face accelerating uncertainties due to economic, environmental, geopolitical, social, and technological challenges. These crises present both opportunities and challenges. Despite these challenges, we continue to expand our global service operations, playing a crucial role in the supply chain from electronic components to end products. We collaborate with upstream and downstream partners and customers, steadily growing together. We provide uninterrupted cross-border services to our global clients, achieve geographic diversification, strengthen our application engineering expertise, and offer excellent logistics management services. Our goal is to promote industry development and become a world-class global distributor of electronic components.
In terms of corporate governance, WT ranked in the top 5% of listed companies by Taiwan’s Corporate Governance Evaluation for the fourth consecutive year. This year, environmental and social performances were added to the performance indicators for the remuneration to CEO. The Board of Directors also approved 2050 net zero commitment and path planning, setting a clear goal to reduce greenhouse gas (GHG) emissions by 3 to 5 percent every year starting from 2024, and reduce scopes 1 and 2 GHG emissions to 50% of the level in 2022 by 2035. WT is committed to reducing GHG emissions and increasing the proportion of renewable energy usage, and has been reviewing and adjusting annually to achieve the goal of net zero emissions by 2050.
As the importance of clean technology continues to grow, WT provides high-quality solutions in three key areas: green energy, energy storage, and energy efficiency through continuous investment and technological innovation. Our R&D investment reached a record high NT$755 million. We have allocated resources in response to national policies promoting forward-looking sustainable economic activities, with a compliance rate of 11% in 2023, aiming for the ratio to revenue of 20% by 2030. In 2023, WT achieved 100% localization in general procurement and develop a GHG inventory of all operating sites of WT’s companies and subsidiaries.
We prioritize team operations as a core value, focusing on the efficiency of time and effort and resource allocation. Global innovation elements such as AI, data, e-commerce, going remote operations, service methods, vertical segmentation, are constantly reshaping the future world and complicating market dynamics. Leaders need an innovative spirit and steadfast patience, making precise adjustments and thinking ahead, persistently overcoming challenges and continuously evolving.In the human world, abundance does not come automatically. No matter what is in short supply, only by believing its supply and demand and continuing to sustain, will we create more possibilities for what originally seemed to be scarce. Belonging to a community and learning to coexist with it allows us to create an eternal, resilient, and sustainable collective.
Pursuing sustainable seasons, the expansion of our horizons and the practice of conservation exist and harmonize like our breath. The world remains in a state of continuous renewal, flourishing when it should and pausing when necessary. This balance allows new hopes to emerge constantly.
